Godel wins place on league table of Britain’s fastest-growing tech firms.
Published this weekend, the 17th annual Sunday Times Hiscox Tech Track 100 league table ranks Britain’s private technology, media and telecoms (TMT) companies with the fastest-growing sales. Godel is a new entrant to the league table in 86th place, and one of eight companies in the North West region that has made it to the list.
The Tech Track 100 is sponsored by Hiscox, Barclays, BDO, BGF and N+1 Singer, and compiled by Fast Track, the Oxford-based research and networking events firm.
Steve Langan, CEO of Hiscox Insurance Company, commented: “Congratulations to all of the companies on the Sunday Times Tech Track 100. Their courage is laudable; rapid growth and continual innovation takes grit. We are extremely proud to be associated with such an impressive list.”
Godel has had an average of 49% annual sales growth over the last three years and are on track to increase turnover by a further 47% in 2017 to £13.5 million.
This year’s Tech Track 100 companies achieved, on average, record sales growth of 99% a year over three years to a combined total of £2.9bn. They employ 15,300 staff, having added 12,000 employees to their combined workforce over the period.
London is the most popular location for company headquarters with 57, followed by the southeast (12). Of the remainder, eight companies are based in the northwest, six in the northeast, six in the East, four in Scotland, three in the Midlands and two each in the southwest and Wales.
The full league table is published as a 10-page supplement with the business section of The Sunday Times on 10 September, both in print and in the digital edition, and on www.fasttrack.co.uk
League table criteria
The Tech Track 100 adopts the London Stock Exchange’s (LSE) techMARK definition of a technology company as one that shows a ‘commitment to innovation, research and product development’ and operates in sectors including software, internet, telecoms and biotech.
Companies had to be registered in the UK and be independent, unquoted and ultimate holding companies.
They are ranked according to the compound annual growth rate in sales over the latest three years.
Annualised sales had to exceed £250,000 in the base year and £5m in the latest year. Companies also had to increase sales in the latest year, but did not need to be in profit.
Pure computer resellers are excluded, and this year the criteria were tightened to require IT consultancies and services companies to generate a significant proportion of their sales from proprietary technologies.
The research was carried out by Fast Track principally between May and July 2017. Most of companies were interviewed by telephone or visited by the Fast Track research team.