Deloitte has revealed which UK tech companies are seeing the fastest rate of revenue growth over the last four years, with the results once again being dominated by the Fintech industry. However, yet again, IT firms were well represented on the list, with the likes of Privitar, Darktrace and Iceotope all named in the top 15.
Revolut, the fintech company that offers the best exchange rate possible for international spending, topped the charts with an insane 48,477% growth rate over the past four years, and although no IT firm came close to that growth, Privitar did come ninth in this year’s list.
Privitar has seen its revenue grow 3,431% over the last four years, with the company offering enterprises a comprehensive data privacy solution. The company has assisted with compliance issues, and has seen explosive growth in the face of regulation such as GDPR. It has also established itself in the cloud space, offering companies an easy path towards migrating to the public cloud while retaining the security of their data.
Darktrace made this year’s list at number 12, with it first making its debut on Deloitte’s top 50 in 2017. With 2,446% revenue growth over the last four years, the company has been capitalising on the concerns surrounding cybersecurity. Darktrace has clients all over the world where it assists in fending off cyber attacks, with the firm using AI to spot anomalous behaviour and automatically stop cyber-criminals in their tracks. Since its founding in 2013, Darktrace has grown to command a market value of $1.65bn as of July 2019.
As one of only two hardware companies to make the list, Iceotope has been on an impressive trajectory which has seen it grow 2,331% over the past four years. Thanks to the increased demand for efficient cooling systems in data centres, the firm has managed to license its technology to bigger companies, such as the partnership it signed with Schneider Electric earlier this year. That’s helped it reap significant rewards, and the company is only set to grow further.
With the majority of the companies on the Deloitte Fast 50 boasting AI usage of some kind, all those firms will be relying on data centres that utilise high performance chips, typically GPUs. As those high performance chips run hotter than your standard CPUs, they need to be cooled down in a more efficient way, and fans alone are unlikely to cut it. That’s why Iceotope’s solution has become a hot topic in the marketplace.
Iceotope’s CEO, David Craig, credits a great team and great innovation with the company’s 2,331% revenue growth over the past four years. He said, "I couldn’t be prouder of the Iceotope family. There’s been a ton of hard work getting to where we are now and we're excited about the future, continuing to grow and building ever further the world-class company we are.”