September 8, 2019 Researched and compiled by Fast Track BRITAIN’S Title sponsor Main sponsors FASTEST GROWING TECH PRIVATE TECHNOLOGY COMPANIES

TRACK 100 TOM STOCKILL The smart money is funding fintech Despite concerns about its post-Brexit future, the sector is leading our most buoyant 100 yet, writes Richard Tyler

intech firms — those in the event of a no-deal Brexit, amid fears the financial technology sector — UK may lose its fintech crown. But for have taken our league table of now it is thriving, as are the companies Britain’s fastest-growing pri- from the wide range of technology, media vate tech companies by storm. and telecoms industries represented on Though a regular feature of The this year’s league table. The 100 com- Sunday Times Hiscox Tech panies have increased their sales on aver- Track 100, now in its 19th year, age by a record 105% a year over three these software firms have risen years to a total of £3.4bn. in prominence and now make London remains the home for the up almost a quarter (24) of the league majority (57), but hyper-growth tech Ftable, including three of its six unicorns — firms feature in virtually all parts of the private companies with a $1bn-plus valu- UK this year, as Simon Calver of BGF high- ation. lights on page 6. Having raised £2.3bn in venture fund- Half are owned and run by their ing in the first half of 2019 — a record founders rather than venture investors, amount — the sector looks well posi- up from 40 on last year’s table. They tioned to maintain its growth: the cur- include Tharsus (No 79), a Northumber- rency specialist TransferWise (No 52) and land firm that manufactures autonomous the payment services firm Checkout.com robotic machinery, and the video- (No 38) are among those that have conferencing specialist StarLeaf (No 61) recently secured new funds to invest. in Watford. The latter has tapped outside Nikolay Storonsky conceived of Revolut when hit by high fees for sending money home to Russia. The fintech firm now handles $3bn of transactions a month Our No 1 company, Revolut, which pro- investors for funds and is among the 75 vides digital banking services, has raised companies on the table that have done 1 Revolut 507.57% financial affairs — from stock trading and merchants and applies a small mark-up admitted that Revolut’s astronomical $340m despite being among the young- so, down from 78 last year. Richard Digital banking services provider currency transfers, to travelling and to its currency exchange rate over the sales growth — averaging 508516%% per est companies on the league table. This Kauffer from N+1 Singer explores what When it featured among the Tech saving — using one simple app. weekend and on transfers above £5,000. annum over three years — has led to cash has helped it increase its sales 508% tech investors are looking for on page 8. Track Ones to Watch in 2017, Revolut Equipped with a versatile debit card, The brainchild of chief executive some management and culture issues. annually over the past three years to Having investors with deep pockets was a two-year-old start-up with they can spend money abroad in 150 Nikolay Storonsky, 35, and chief It has since bolstered its team with £58.3m, one of the highest rates of enables almost half the companies (49) to 800,000 people signed up to its currencies; convert pounds or euros into technology officer Vlad Yatsenko, 36, it former HSBC banker Richard Davies growth yet seen on Tech Track 100. sustain operating losses as they spend to mobile banking app, had raised £50m cryptocurrencies such as bitcoin; and is backed by a flush of venture capital joining as chief operating officer and Groups such as the Digital Finance develop their technology, secure orders and reported revenues of £2.4m. Now transfer money in 29 currencies at the firms, including Balderton Capital and David MacLean, formerly of Metro Forum, whose members include the and gain market share. armed with 6m customers, a $1.7bn interbank exchange rate. Premium DST Global. Rattled by the transfer fees Bank, as chief financial officer. Staff identity verification developer Onfido Others are using their products to valuation and a European banking account holders get overseas medical incurred when sending money home to numbers in 2019 have jumped from (No 8) and the business finance lender address social challenges, such as Azuri licence, it has stormed to the top of insurance and lounge passes for his native Russia, Storonsky — a former 700 to almost 1,200. iwoca (No 34), have called on the govern- Technologies (No 42), which is providing the main league table. airports, among other perks. currency trader — envisaged a simpler, Next up is a reported $500m ment to support the fintech sector in the pay-as-you-go power in Africa. Tony Revenues hit £58.3m last year as Revolut is not a British bank yet but digital solution. Yatsenko, a Ukrainian- investment round to fund further Spillett from BDO explores this theme Revolut handled $3bn worth of has Financial Conduct Authority (FCA) British software engineer, designed their expansion. That would value Revolut further on page 4. transactions a month. Its target approval as an “electronic money alternative at the Level39 tech at $5bn or more and see it poised to FAST TRACK Experience can count, with 27 of the demographic is tech-savvy people institution”. It takes a cut of the accelerator space in Canary Wharf. enter the new decade as Europe’s companies run by serial entrepreneurs. who want to streamline all their processing fee paid to Mastercard by After FCA scrutiny, Storonsky has most valuable fintech unicorn. For instance, Charles Delingpole, Tech Track 100 ranks Britain’s private founder and chief executive of the anti- technology, media and telecoms money-laundering firm ComplyAdvan- 2 Bizuma 315.18% 3 Global-e 303.09% 4 Jungle Creations 302.53% 5 Oxford Nanopore 251.87% companies with the fastest-growing tage (No 16), co-founded the Tech Track B2B ecommerce platform Cross-border ecommerce solutions Social media & ecommerce services DNA analysis technology sales. It is produced by Fast Track, the 100 alumnus MarketInvoice, a business This London company began as a flash- Global-e provides technology to In 2014, founder and chief executive Spun out of the University of Oxford in Oxford firm that researches Britain’s financing platform. He talks to Sean sales website before chief executive Ray ecommerce retailers, enabling them to Jamie Bolding, 28, created Viral Thread, 2005, this company specialises in top-performing private companies Duffy of Barclays on page 2. Watson, 36, integrated software he had localise websites in 200 markets a social media video channel. The compact DNA/RNA sequencing and organises invitation-only dinners Tech Track 100 alumni are sought- created to form a B2B-only ecommerce worldwide. Its software supports 95 business has grown to create more technology for biological research. The for their owners and directors to after businesses — the planned £9bn platform in 2014. It runs an online currencies, 150 local and alternative original content and operates themed business has developed devices that network and meet its sponsors. mega-merger of Just Eat with its Dutch marketplace that allows buyers to source payment methods and the calculation channels specialising in food, DIY, sport help scientists identify bacteria and peer Takeaway.com is just one example. products, while wholesalers can access and prepayment of duties and taxes. and pets. It is highly visible on Facebook, viruses, track disease outbreaks and For full ranking criteria, see page 2 Whether those featuring on the 2019 buyers in new markets and tender for Global-e was co-founded in 2013 by Amir with 85m followers on social media and study the DNA of humans, animals and table decide to sell up, as Skyscanner did contracts, such as construction, hotel Schlachet, 42, Shahar Tamari, 47, and 3bn monthly video views. It has plants. Led by co-founder and chief in 2016 for £1.4bn, or to float themselves and apartment projects. With more than Nir Debbi, 45, and has raised more than diversified with six delivery-only executive Gordon Sanghera, 58, it sells Follow us @ST_FastTrack on the stock market, as Ocado chose in 100,000 customers using its technology, $55m from backers, including Apax restaurants and Lovimals, an to nearly 100 countries. Revenues hit 2010 — it is now valued at more than £8bn it generates 95% of its turnover overseas, Partners. Initially based in Israel, the ecommerce business. Sales reached £32.5m last year. It has secured £451m in Awards dinner — their success is interwoven with the with key regions including Asia and firm relocated its global HQ to London £16m in 2018. Last year the business was funding from investors including car partner UK’s future as a hub of talent, innovation South America. Sales from its services and now serves 120 retailers in Europe. valued at £50m, after securing £3m Woodford, and was valued at £1.5bn last and life-changing technology. hit £26.4m this year. Sales grew to £29.3m last year. funding from Edge Investments. March. Opportunities and risks hurtle up at light speed

AI, robots and have been doing it regularly worked for the BBC and Take Tech Track 100 emerging security issues, companies — Fast Track’s since 2001, when the first Tesco, are helping to steer alumnus King, a games from the viruses spread by researchers are monitoring driverless cars league table was published — organisations of all types developer founded in 2003, floppy discs in the 1990s and the progress of exciting start- also supported by Hiscox. towards an AI-driven future. which really took off when it emails in the 2000s to today’s ups in this space, such as bring new It is a reminder of the Cloud computing is helping put games on Facebook in malware attacks. It is Oxbotica and FiveAI. openings — and fantastic contribution fast- to furnish the firms that use AI 2011, before launching Candy something we at Hiscox keep Technological innovation growth tech companies make with the huge processing Crush Saga on iOS and a close eye on: the specialist raises new questions related new questions to the economy, building capacity they need, while Android in 2012. Last year it technology insurance we to insurance. How, for infrastructure and software supporting the rapid growth had 270m active users, and its provide constantly evolves to instance, should liability be that supports thousands of of other tech-enabled success prompted Activision cover new kinds of business structured for the hacking of BOB other businesses. As 2020 companies. In the past few Blizzard to acquire King in and new types of risk. autonomous vehicles? From THAKER approaches, though, what are years it has given a new breed 2016 for $5.9bn. So, what is coming over the data breaches to phishing, Hiscox the factors behind the of fintech firms — such as the Yet as far back as the 1980s, horizon? The need for good technology produces consistently fast growth of mobile-only banking services visionary leaders — and there digital security will only grow unintended consequences. Tech Track 100 companies firm Revolut (No 1), founded are many among the Tech in the 2020s, with the likes of Entrepreneurs don’t Political turbulence has over the past two decades — in 2015 and valued last year at Track 100 alumni — saw that Darktrace (No 54) positioned always think about insurance dominated the headlines for and what will power them $1.7bn — the computing power digitisation and greater for further prosperity. It first thing in the morning, but three years, but it is hard to through the next two? to challenge incumbents. connectivity would also bring appears on the league table it is a key part of the solution distract a tech entrepreneur The data yielded by the Powerful smartphones, threats. Peter Lammer and for the third year in a row, for safeguarding a company’s with a good idea and a internet presents businesses from 2007’s very first iPhone Jan Hruska, two Oxford with sales £107.7m this year. reputation and ability to talented team. Since the EU with ever-greater to today’s XS Max with facial University engineers, set up Robotics company Tharsus trade against a plethora of referendum in 2016, the opportunities, and advances recognition, along with apps Sophos in 1985 and soon (No 79), which over 20 years complex and rapidly evolving companies on this year’s in artificial intelligence are and social networks, have began making antivirus has transformed from a risks. The UK’s ecosystem for Sunday Times Hiscox Tech helping make gigantic data supercharged the growth of software. It featured on Tech welding and sheet metal fast-growth tech companies Track 100 league table have sets more navigable. League many Tech Track 100 Track 100 in 2002 with sales business to a maker of robots has developed substantially increased their sales by an table companies such as companies — small wonder of £23m, before listing in 2015 that work in Ocado’s since the first Tech Track 100 average of 105% a year, to a Featurespace (No 25), which when you consider that in the biggest UK tech IPO at warehouses, represents a was published, and Hiscox is combined £3.4bn. develops software to identify today’s devices are thousands that time — valuing the fast-growing sector. proud to play its part in it. Doubling sales every year online fraud, and new entrant of times faster than the company at £1bn. Automotive technology is is, in fact, standard for Tech Faculty (No 22), a company computers that sent Apollo 11 Underpinning its growth is another youthful field set to Bob Thaker is the chief Track 100 companies: they developing AI that has to the Moon in 1969. Tharsus (No 79) makes robots for Ocado’s warehouses an ability to stay ahead of deliver new league table executive of Hiscox UK 2 The Sunday Times September 8, 2019 TECH TRACK 100

BRITAIN’S FASTEST-GROWING PRIVATE TECHNOLOGY COMPANIES RULES OF ENGAGEMENT Rank Rank Company Activity Headquarters Year end Annual sales Latest In profit Staff Comment 2019 2018 location rise over 3 sales The annual Tech Track 100 years £000s league table, now in its 19th 1 Revolut Digital banking services provider East London Dec 18 507.56% *58,300 No 700 Valued at $1.7bn in 2018 and reported to be raising an additional $500m this year that could value it at $5bn year, ranks Britain’s fastest- 2 10 Bizuma B2B e-commerce platform Central London Mar 19 315.18% *26,414 Yes 114 Connects wholesale buyers and sellers from over 50 countries growing private technology, 3 Global-e Cross-border ecommerce solutions Central London Dec 18 303.09% 29,297 Yes 28 Its technology helps ecommerce retailers localise their websites in more than 200 markets media and telecoms 4 Jungle Creations Social media & ecommerce services East London Dec 18 302.53% *15,972 No 159 Launched the first-ever delivery-only restaurant born from social media companies by their average 5 Oxford Nanopore Technologies DNA analysis technology Oxford Dec 18 251.87% *32,500 No 439 Has raised £451m in funding and was valued at £1.5bn last year annual sales growth over 6 Lendable Consumer lending platform Central London Dec 18 242.98% *19,366 Yes 44 Founder moved to the UK from Germany to start the firm, citing a more favourable financial market their latest three years. 7 7 Verve Marketing software developer Central London Dec 18 235.72% *21,940 No 230 Has implemented full salary transparency in order to combat the gender pay gap 8 Onfido Identity verification software Central London Dec 18 209.15% *18,591 No 240 Has opened offices in the US, Europe, India and Singapore to service its 1,500 customers Criteria The Tech Track 100 9 Reverse Media Group Digital publishing agency Central London Jul 18 208.10% *7,606 Yes 15 Originally started as an animal onesie clothing company before pivoting to online publishing adopts the London Stock 10 Rebound Returns Ecommerce returns technology Telford Dec 18 191.08% *16,659 Yes 21 Its platform handles more than 35m online returns transactions every year Exchange’s Techmark 11 ClearScore Credit-checking technology developer South London Dec 18 177.20% *42,702 Yes 135 In 2018, £90m worth of mortgages were secured through its site definition of a technology 12 SPOKE Online menswear supplier Richmond Oct 18 177.10% *5,566 No 36 Its technology helps customers find the right fit out of 200 clothing size options in just 60 seconds company: one that shows a 13 FSB Gambling platform Central London Dec 18 175.54% *23,945 No 93 Has moved into William Hill's old R&D offices in Shoreditch commitment to innovation, 14 Decibel Customer experience technology Central London Jun 18 165.81% 5,387 No 68 Uses AI and machine learning to detect consumers’ feelings of confusion, frustration and engagement research and product 15 Miss Group Web hosting provider Manchester Dec 18 162.06% *6,925 Yes 55 Has made four acquisitions in the last year, with £19.4m investment from growth-capital firm BGF development. Companies 16 ComplyAdvantage Anti-money laundering database Central London Mar 19 160.61% *5,981 No 165 Its platform helps 450 customers in 45 countries address compliance issues have to be UK registered and 17 OTA Insight Hospitality technology provider Central London Dec 18 158.14% *10,295 No 105 Works with over 40,000 hotels in 126 countries, including some of the world's largest hotel groups be independent, unquoted 18 Light Source Telecoms infrastructure builder Nottinghamshire Mar 18 146.90% 31,098 Yes 96 Developing a pneumatic rocket launcher that can lay fibre cable 500m from its launch site and ultimate holding 19 Digi2al Digital technology developer Central London Jan 19 141.56% *14,394 Yes 11 Called Digi2al because its software development team works in two-week sprints companies. Annualised sales 20 5 Perkbox Employee engagement services Central London Dec 18 131.50% *53,600 No 250 Raised £13.5m in April to boost its expansion in Australia and France have to exceed £250,000 in 21 Lending Works Peer-to-peer lender Central London Dec 18 128.54% *6,178 No 42 Aiming to reach £1bn in loan volume by 2023 the base year and not show a 22 Faculty AI software developer Central London Mar 19 125.91% *5,193 No 65 Has worked on more than 300 AI projects for clients including easyJet, Tesco and the BBC drop from the penultimate to 23 Internet Mobile Communications Telecoms services provider Chelmsford Jun 19 122.54% *60,241 Yes 32 Has offices in Chile and Moldova as well as its Essex headquarters the latest year, in which total 24 Fruugo Online shopping platform Cumbria Dec 18 116.00% *6,661 No 35 Its site has been used by 2m shoppers in 17 languages and 32 countries annualised sales have to 25 85 Featurespace Analytics software developer Cambridge Dec 18 110.71% *9,953 No 200 Its anti-fraud technology is used by 19 banks across Europe, the US and Latin America exceed £5m. Companies do 26 Monterosa Audience interaction platform Central London Mar 19 109.56% *10,099 Yes 72 Its apps for clients including ITV, EA Sports and Nickelodeon have engaged 60m fans in 190 countries not have to be in profit. Staff 27 Lockwood Publishing Mobile games developer Nottingham Mar 19 107.97% *17,950 Yes 110 Creates mobile video games where users can customise their avatar with its own line of evening wear figures are either current or 28 1 Plan.com Communications provider Isle of Man Sep 18 107.83% *47,881 Yes 96 About 650 partners use its telecoms platform to support more than 100,000 UK business customers from the latest accounts. 29 44 Capital on Tap Business finance provider Central London Mar 19 100.45% *39,285 Yes 73 Has lent over £1bn to more than 80,000 businesses across the UK Firms that do not meet the 30 In Touch Networks Professional networking platform Manchester Feb 19 98.10% *7,428 No 139 Its platform helps more than 125,000 members access training and find new roles criteria may be considered 31 DV Signage Corporate AV specialist Hertfordshire Mar 18 97.82% *5,150 Yes 25 Has developed a robot receptionist capable of welcoming guests and giving presentations for our Ones to Watch (see 32 6 Ogury Mobile data marketing East London Dec 18 97.77% *62,318 Yes 210 Services clients including eBay, Nike and McDonald's from 13 offices in Europe, the US and Mexico page 10). 33 35 Chameleon Technology Smart energy monitoring Harrogate Dec 18 97.59% *21,752 Yes 46 More than 4m of its smart in-home displays have been installed in UK homes 34 30 iwoca Business finance provider Central London Dec 18 97.06% *47,534 Yes 230 Has raised £352.7m to date, including a £150m funding round in February Exclusions Computer 35 Byte Marketing technology agency Central London Dec 18 95.79% *18,315 Yes 96 3.6m people played an augmented reality rugby game it created for Just Eat resellers and payday lenders 36 Matillion Data transformation software Altrincham Dec 18 94.13% *6,504 No 87 Has around 600 customers, including GE, Siemens and Amazon, across 40 countries have been excluded. IT 37 13 Bought By Many Specialist insurance platform Central London Mar 19 93.91% *35,000 No 101 Launched in Sweden this year, its first overseas market for its pet insurance consultancies and services 38 Checkout.com Payment services provider Central London Dec 18 93.34% *55,713 Yes 450 Raised $230m in May, the highest early-stage funding round for a fintech company in Europe firms are required to 39 Fleximize Business finance provider Ipswich Aug 18 92.54% *8,291 No 40 Has provided over £100m in loans to small businesses across the UK generate a significant 40 Hyperdrive Innovation Battery technology developer Sunderland Mar 19 90.00% *7,286 No 40 Can produce up to 30,000 battery systems a year at its Sunderland production facility portion of their sales from 41 27 GoCardless Payment services provider Central London Dec 18 89.93% *20,133 No 264 Processes $10bn of payments a year on behalf of 40,000 businesses worldwide proprietary technologies. 42 Azuri Technologies Solar technology developer Cambridge Dec 18 89.85% *8,837 No 80 Over 750,000 people in 12 sub-Saharan countries use its solar power systems 43 18 Receipt Bank Bookkeeping automation services Central London Dec 18 89.78% *18,619 No 445 250,000 businesses in America, Europe and Australia use its book-keeping software Data collection Sources 44 8 gohenry Children's pre-paid card service Central London Dec 18 88.25% *8,309 No 96 The company is named after the first child to make a transaction with one of its cards used include Bureau van 45 37 Gousto Meal kit delivery services West London Dec 18 87.68% *49,284 No 371 On track to provide the ingredients for 400m meals in UK homes by 2025 Dijk’s Fame, Companies 46 11 Depop Fashion marketplace app Central London Dec 18 87.48% *171,989 No 159 More than 15m people use its platform to buy and sell second-hand clothing House and Experian’s 47 55 Giacom Cloud services provider Hull Jul 18 87.43% 25,104 Yes 58 Founded in 1999, the firm is celebrating its 20th anniversary this year MarketIQ. Many companies 48 Account Technologies Consumer finance provider Buckinghamshire Aug 18 87.39% 68,212 Yes 152 Has attracted 470,000 customers and provided £1.5bn in loans since launch in 2012 were nominated by 49 23 Gigaclear Internet services provider Oxfordshire Dec 18 87.19% 8,979 No 240 Has connected more than 19,000 rural customers to broadband across the UK themselves or by advisers; 50 16 Oakbrook Consumer finance provider Nottingham Dec 18 86.86% 53,250 Yes 103 Uses machine learning to help estimate borrowers’ credit risk others were identified 51 26 Hyperoptic Internet services provider West London Dec 18 86.60% *26,900 No 667 Aims to provide superfast broadband to more than 2m homes by 2022 through research. Fast Track 52 24 TransferWise Currency transfer provider East London Mar 19 85.96% *179,100 Yes 1,516 Was valued at $3.5bn in November after it raised $292m, taking its funding total to $689m also reviewed draft 53 53 Assetz Capital Business finance provider Manchester Mar 19 85.77% *16,991 No 99 Its 35,000 lenders have earned over £80m in interest, and funded £800m of loans and 4,000 new homes accounts, management 54 9 Darktrace Cyber-security developer Cambridge Jun 19 84.73% *107,664 No 948 Was reportedly valued at $1.65bn in 2018 following a $50m funding round account extracts and 55 29 Payen Payment services provider Guildford Mar 19 80.58% *14,211 Yes 32 The Premier Lotto in Nigeria uses the company’s platform to prevent money laundering pro forma accounts. 56 98 Thread Online fashion services Central London Dec 18 80.22% *8,137 No 65 Has named its AI-driven personal stylist software "Thimble" 57 36 SuperAwesome Children's privacy protection Central London Dec 18 79.00% *26,200 No 120 High-profile customers include Disney, Nintendo, Hasbro and Cartoon Network Incomplete data Most small 58 38 Vizolution Business software developer Swansea Dec 18 77.76% *10,234 No 154 Its software powers RBS’s paperless mortgage process which completes over £18bn of lending each year firms file abbreviated 59 49 BigChange Workforce management software Leeds Dec 18 77.44% *11,206 Yes 98 Its CEO has pledged to move the company to a four-day working week by 2021 accounts. For this reason, 60 Symetrica Detection equipment manufacturer Southampton Sep 18 74.24% 11,019 Yes 59 Its technology is used at ports across the world to detect radioactive material used in bombs sales figures for many 61 48 StarLeaf Video conferencing platform Watford Dec 18 73.53% *17,600 No 201 Its founders set up the Tech Track 100 alumnus Codian and sold it for $270m in 2007 companies are not available 62 34 Azimo Currency transfer provider Central London Jun 18 72.44% 10,776 No 55 Enables users to transfer money to more than 200 countries in 80 currencies and we would welcome 63 Endomag Medical device developer Cambridge Dec 18 72.36% *6,284 No 20 Its breast tumour detection technology is used in cancer hospitals such as The Royal Marsden nominations for next year’s 64 QHi Group Monitoring systems developer Hertfordshire Mar 19 71.02% *5,102 Yes 15 Has opened a US office on Wall Street to service its clients in North America league table. 65 32 Threads Styling Online fashion services East London Dec 18 69.84% *17,732 No 91 Raised £15.7m from Highland Europe and millennial services-focused fund C Ventures in 2018 66 Unify Communications Customer service software Bristol Aug 18 69.33% *5,735 Yes 21 Its software created operational savings in excess of £2m per year for Shell Energy Disclaimer The firms in the 67 47 MiQ Digital marketing agency Central London Dec 18 68.48% *196,869 Yes 570 Operates globally from 15 offices in North America, Europe and Asia Pacific Tech Track 100 are not 68 Neyber Personal finance technology developer Central London Mar 19 66.99% *5,700 No 121 Co-founder's business idea was inspired by a 'Sou-Sou', an African savings club used by his mother endorsed or recommended 69 TVSquared TV advertising analytics Edinburgh Dec 18 66.86% *7,187 No 93 Tracks 175m website hits per day for over 700 brands, agencies and networks by the sponsors or by 70 The Access Group Business software developer Central London Jun 18 66.83% 143,135 Yes 1,332 It was valued at £1bn last year after an undisclosed investment from HgCapital Fast Track, nor are they 71 ContactEngine Conversational AI technology Central London Oct 18 66.34% *6,684 No 57 Has an AI advisory board, chaired by a former UK government chief scientific adviser necessarily the best-run 72 45 Hutch Mobile games developer Central London Sep 18 65.97% *11,585 Yes 68 Has secured a worldwide partnership with Formula 1 to create racing games for iOS and Android companies. The table is 73 Sideshow Digital marketing agency Bournemouth Mar 19 65.93% *21,744 Yes 180 Works with clients including KFC, BT and Tesco to improve customer experience based on historical data 74 14 Optal Payment services provider Central London Dec 18 65.90% *269,640 Yes 75 Uses the Mastercard processing network to facilitate payments in 34 currencies and the information is not 75 87 Leisure Pass Group Tourism smartcard provider Central London Dec 18 62.95% *276,790 Yes 121 Its technology processes more than 16m visits a year to sightseeing destinations worldwide necessarily an indicator 76 100 Brompton Technology Video technology provider West London Aug 18 61.86% *7,202 Yes 30 Musicians Drake and Ed Sheeran have used its equipment on their international tours of present or future 77 iPlato Healthcare app developer Central London Dec 18 61.24% *5,450 Yes 62 Its myGP app is used to order one repeat prescription every minute performance. The compiler’s 78 84 Currencycloud Payment services provider East London Dec 18 60.87% *20,351 No 190 Has processed more than $50bn in payments to over 180 countries decision is final and no 79 Tharsus Robot designer and manufacturer Northumberland Nov 18 60.85% *51,178 Yes 264 Manufactures robots that pick and carry groceries at Ocado's automated warehouses correspondence 80 46 ENSEK Energy software developer Nottingham Mar 19 60.80% *8,677 Yes 129 Counts the former managing director of British Gas, Ian Peters, as its chairman will be entered into. 81 Captify Advertising technology company Central London Mar 19 58.86% *43,048 Yes 197 Provides data and marketing insights for over 800 brands including Disney, Apple and Adidas 82 Adaptive Banking technology developer Central London Jun 19 58.56% *28,151 Yes 214 Has more than 200 staff across offices in London, Barcelona, Montreal and New York Sponsors Fast Track’s sole 83 Student Beans Student loyalty network Central London Jun 19 57.62% *7,106 Yes 107 Says it helped students save on 72,856 mobile phones and 539,214 pairs of shoes in 12 months source of revenue is our 84 92 Godel Technologies Software developer Manchester Dec 18 57.21% *21,711 Yes 732 Is named after the late German mathematician Kurt Gödel sponsors. We would like to 85 MPB Photography equipment trading platform Brighton Mar 19 56.21% *31,909 No 125 Building an operational centre in New York to service its US customers thank Hiscox, our title 86 Smartsearch Anti-fraud technology developer Leeds Dec 18 56.21% 8,129 Yes 82 Its anti-money laundering services are used by more than 4,000 client firms and 40,000 users around the world sponsor for the eighth year, 87 83 Liberis Business finance provider West London Dec 18 56.07% *21,090 No 105 Its intelligent pricing tool uses machine learning to give customers bespoke pricing and our main sponsors 88 cloudThing Software developer West Midlands Jan 19 55.84% *6,056 Yes 41 Delivers IT transformation projects for the British Red Cross and Metropolitan Police Barclays, BDO, BGF and 89 74 Zappi Consumer insights platform Central London Dec 18 55.19% 24,760 No 189 Holds weekly hackathons with its clients and programmers N+1 Singer. 90 Ticketer Electronic ticket machine developer Hungerford Aug 18 53.83% 14,692 Yes 55 Over 2 billion tickets have been purchased via its electronic ticketing machines 91 Pharmacy 2U Online pharmacy Leeds Mar 19 53.02% *61,022 No 299 Uses proprietary algorithms and warehouse automation to increase accuracy in medicine dispensing Send nominations for next 92 Adaptavist IT consultancy Central London Sep 18 52.46% *26,704 Yes 162 Says it works with more than half of Fortune 500 companies year or sponsor inquiries 93 Alternative Airlines Flight booking website Surrey Oct 18 51.49% *9,985 Yes 30 Offers mobile payment solutions for customers from developing countries to [email protected] 94 61 Biosite Systems Workforce management software Solihull Jul 18 51.33% 9,756 No 165 Its technology is used on 1,000 construction sites, including Hinkley Point C nuclear power station or fasttrack.co.uk 95 JustPark Smart parking provider North London Mar 19 50.70% *24,285 No 70 Over 3m drivers use its app to find car parking spaces across the UK 96 81 WorldRemit Currency transfer provider Central London Dec 18 50.26% *90,965 No 615 Is valued at more than $900m, having raised more than $375m since 2010 97 66 E3D Online 3D printer developer Oxfordshire Apr 19 50.10% *6,900 Yes 41 Has grown its exports to account for 75% of its total sales 98 Parentpay School payment services provider Coventry Nov 18 49.97% *30,400 Yes 210 Bought Dutch rival WIS in 2018, gaining access to 85% of the secondary school market in the Netherlands 99 59 Victor Online private jet hire Central London Dec 18 49.56% *55,100 No 100 Counts Sir Elton John among its investors 100 82 Dianomi Financial marketing platform Central London Dec 18 49.21% *14,615 Yes 27 Works with eight of the top 10 global asset managers bvdinfo.com/fame * Supplied by company Publisher and compiler: Hamish Stevenson. Editorial: Richard Tyler, John Elliott. Research operations: Ying Chen. Research manager: Amelia Griffiths Why are so many tech firms now made in Britain?

Our software Encouragingly diverse, why? Software companies high-growth sectors such as an ideal launchpad for holistic approach that they solve problems, drive can spring up anywhere with tech, fintech and finance. overseas expansion. includes the hardware of a sector is No 1 in innovation and create jobs an internet connection. So Much of this success is linked Its software is used by government strategy across a wide range of why do the best and to us becoming a beacon for banks, insurers and payment promoting education, Europe for firms industries — from the brightest choose London? talented and ambitious platforms to detect fraud investment and innovation. and investors alike software built by specialist I asked Saurav Chopra — individuals. It’s vital that, and combat money We need more examples insurance provider Bought co-founder and chief going forward, we remain as laundering, and Delingpole such as Faculty (No 22), by Many (No 37), which executive of Perkbox (No 20) open and welcoming.” believes that being based in which is using AI to solve SEAN combs social media channels — which has signed up more Sales at Perkbox soared Britain has catalysed its rapid problems such as helping fire DUFFY to help people with health than 900,000 staff from from £4.3m in 2015 to overseas growth. brigades execute inspections Barclays problems band together to 14,000 companies to its £53.6m in 2018, and, having “Starting a company in an more efficiently, or buy cheaper insurance; to employee experience raised £13.4m in its latest environment that encourages collaborating with the Home the algorithms deployed by platform. It offers them funding round to expand to growth helped us establish a Office to remove online Entrepreneurs often turn OTA Insight (No 17) to predict perks from cinema tickets to France and Australia, Chopra strong foundation,” he says. terrorist propaganda. It is down safe or lucrative hotel demand. medical insurance and is is confident it can become “There are great even using machine learning careers to bring an idea to Britain has given rise to valued by employers who another UK tech unicorn. universities in the UK with to help rugby clubs recruit life, only to be told that it’s more tech unicorns — firms appreciate the complexities We will be part of that global centres of excellence, new talent. “for the birds”. Yet, as this valued at more than $1bn — of attracting talent in the journey. “Perkbox started attracting companies that ComplyAdvantage, year’s Tech Track 100 league than any other nation digital era. banking with Barclays at the then invest further in Perkbox or Faculty could be table shows, Britain’s outside the US and China. “Today’s organisations very beginning, and it’s graduate engineers. the next Micro Focus, Sage software sector is riding high Those who are on this year’s face a much bigger challenge always been our partner,” Compared with Silicon or Sophos — the latter is a on the cloud. Tech Track 100 include of catering to a workforce says Chopra. Valley, the cost of talent is Tech Track 100 alumnus, Referring to the software Darktrace (No 54), that has grown up with “When we needed extra very reasonable. The single featuring in 2002 with sales that runs the internet, the Checkout.com (No 38), completely opposite support, going with Barclays biggest lever to increase the of £23m. It was valued at cloud is one of the few tech Oxford Nanopore expectations of working life was a no-brainer.” strength of the software £1bn when it floated in 2015 buzzwords that have drifted Technologies (No 5) and to previous generations,” he Another entrepreneur I industry in the UK is and turned over £457m into everyday conversation. TransferWise (No 52). We says. “Leaders must make spoke to — Charlie investment in education.” last year, showing that And, although there’s no rank fourth globally for sure staff engagement is Delingpole, founder and If you see a business software is an industry that British Apple or Google, yet, investment in digital agile, holistic and chief executive of problem that needs solving, Britain is good at and should London harbours a enterprise, attract the most personalised in order to ComplyAdvantage (No 16) — software is likely to provide be proud of. flourishing ecosystem of venture capital funding in successfully retain talent and argues that the secret of the solution, but securing exciting software firms Europe, and are the world become the employer of Britain’s software success is Britain’s place at the heart of Sean Duffy is head of harnessing its potential to No 1 for fintech investment. choice. that our reputation for a hyper-competitive global technology, media and transform business. The obvious question is “The UK has excelled in Perkbox’s Saurav Chopra: ‘It’s vital we remain welcoming’ excellence makes these isles tech industry demands a telecoms at Barclays The Sunday Times September 8, 2019 3

6 Lendable 242.98% Consumer lending platform Founded in 2014 by a group of graduates, Lendable offers loans to consumers by matching them with investors. It aims to make loan applications easier and quicker by using technology to automate credit decisions and give borrowers instant, personalised interest rates. Revenues, which come from platform fees, hit £19.4m last year, under co-founder and chief executive Martin Kissinger, 30. This summer, the company secured £700m to finance loans on its platform from investors including Goldman Sachs Private Capital and Waterfall Asset Management. Lendable currently originates £40m of loans a month, up from £3m in 2017.

7 Verve 235.72% Marketing software developer Founded by brothers Liam and Callum Negus-Fancey, 26 and 29, Verve is a word-of-mouth sales platform where 16 to 28-year-olds can sell event tickets to members of their social groups, in exchange for rewards such as VIP access or free tickets. The London business has partnered with ticketing companies such as Ticketmaster and Eventbrite, and has sold more than 500,000 tickets since it was launched in 2014. It has secured $28.5m from investors including Draper Esprit and Universal Music Group, and in April last year, bought the Las Vegas-based student travel firm JusCollege in a $25m deal. Sales, which consist of commissions, grew to £21.9m last year.

8 Onfido 209.15% Identity verification software More than 1,500 organisations, including Revolut and Drivy, use Onfido’s machine learning technology to verify the identity documents of people accessing online resources, such as financial services and online marketplaces. Chief operating officer Eamon Jubbawy, 27, and chief executive Husayn Kassai, 29, started the London company in 2012 to help those without proof of identity — a figure the World Bank puts at 1.1bn people. Increasingly sophisticated frauds, and tighter industry and country-specific regulations, helped sales to hit £18.6m in 2018. Onfido has raised more than $100m, including $50m in April from SBI Group, Salesforce Ventures and others.

9 Reverse Media Group 208.10% Digital publishing agency Lendable (No 6) uses software to offer quick, bespoke loans to its customers — and is currently advancing them £40m a month. Revenues, which come from platform fees, hit £19.4m last year Founder Greg Burgess, 32, set up this company in 2014, with a £50,000 loan. offers personalised loans, mortgages technology officer Sam Lawrence, 46, build strategy, completing four He paid it off in its first year and the and credit cards and the company David’s first employee at GAN. Working acquisitions in the past 12 months. company has been profitable ever since. receives a commission every time with 32 brands on four different It has a portfolio of search, price someone uses it to buy a credit product. continents, the company’s sales, which 16 ComplyAdvantage 160.61% comparison and media websites that With offices in India and South Africa consist of gross revenue generated from Anti-money laundering database attract internet traffic, against which it and more than 10m users worldwide, gambling activities, grew to £23.9m in When Charles Delingpole, 36, left Tech serves up to 7,000 ads a second. Its sales hit £42.7m last year. Experian, the 2018. Track 100 alumnus MarketInvoice, software finds trends and capitalises on data firm, had agreed to buy ClearScore where he was a co-founder, in 2014, he them fast. Google, eBay and Microsoft for £275m, but the deal fell through in 14 Decibel 165.81% came up with 15 ideas for a new venture are among its key advertising customers. March following concerns from the UK’s Customer experience technology and asked his former colleagues at Sales — which include advertising competition watchdog. British Airways, Lego and Tesco are investment bank JP Morgan to choose revenues and affiliate partner among the companies that use Decibel’s the best. The resulting compliance commissions — grew to £7.6m last year, 12 Spoke 177.10% platform to help convert online clicks database now helps customers, two thirds of which came from overseas. Online menswear supplier into sales by gathering real-time including banks, insurers and payment Struggling to find menswear with the intelligence on how consumers are providers, to address compliance 10 Rebound Returns 191.08% right fit inspired former management responding to their websites and mobile issues related to transaction monitoring, Ecommerce returns technology consultant Ben Farren, 41, to help men apps. It uses AI and machine learning to fraud and anti-money laundering. Last This Telford business has capitalised on find perfectly fitting clothing. In 2014, he evaluate “digital body language”, year, it opened an office in Singapore, a very modern problem for online built FitFinder, an online tool that uses detecting feelings of confusion, adding to its bases in New York and retailers. Founders Graham Best, 56, machine learning to enable customers to frustration and engagement by Romania. Sales hit £6m in 2019, and the and Phil Smith, 51, teamed up in 2014 to find the right size out of the 200 monitoring how fast a mouse is moved. company is targeting further build software that would handle different options Spoke offers. The It also records which words people are international expansion after securing returns and logistics for retailers and company has sold more than 300,000 reading, and other metrics that pinpoint $30m from Index Ventures and give consumers a smoother experience. pairs of trousers through its site, and last the features that people enjoy and Balderton Capital. Now with more than 500 customers year sales hit £5.6m. Raising £14.7m from others that turn them off. Founded by worldwide — including Asos and investors including BGF and JamJar, the Ben Harris, 44, and Timothy de Paris, 37, 17 OTA Insight 158.14% Gymshark — its platform plugs into investment firm set up by the founders in 2014, the company grew sales to Hospitality technology provider retailers’ websites, enabling consumers of Innocent Drinks, has helped the £5.4m last year. Some of the world’s largest hotel groups to download a QR code or printed label business expand to the US. — including Marriott, IHG and Hilton — to send back unwanted items. BGF 15 Miss Group 162.06% use this London company’s technology invested an undisclosed sum in 2018 to 13 FSB 175.54% Web hosting provider to price rooms, forecast demand and develop its data analytics capabilities, Gambling platform Serial entrepreneur Mattias Kaneteg, 45, review competition. OTA Insight was and sales hit £16.7m in the same year. Driven by live data and real-time pricing was known for selling online gambling founded in 2012 by university friends algorithms, this firm offers white label firm iGame for $100m to Unibet in 2015. Gino Engels, Matthias Geeroms and 11 ClearScore 177.20% sports betting and casino games for His latest venture, Miss Group, started Adriaan Coppens, all 33, who noticed Credit-checking technology online and mobile, as well as electronic life in Sweden in 2014 and is now that London hotels had been unable to developer point of sale devices used in venues such headquartered in Manchester, with predict occupation rates during the Chief executive Justin Basini, 45, co- as betting shops, casinos and racetracks. offices in Sweden, America, India, Spain Olympics. In 2017, the company secured founded ClearScore alongside former Customers include brands such as and Mexico. The company hosts more a $20m investment from Eight Road Google UK managing director, Dan Flutter Entertainment and Genting than 250,000 websites for 150,000 Ventures and F-Prime Capital, helping it Cobley, 52, to demystify the world of Casinos. It was founded in 2007 by David SMEs, and grew sales to £6.9m last year. to expand overseas. Chief executive consumer finance and give people McDowell, 51, who previously created Growth-capital firm BGF invested £6.4m Sean Fitzpatrick, 46, oversaw sales — free access to their credit scores and the now publicly listed casino platform last year, and a further £13m in June, which consist of subscription fees for its reports. Its web and app-based platform Ben Farren of Spoke (No 12) is expanding his menswear business into the US supplier GAN, along with chief enabling Miss Group to adopt a buy-and- platform — of £10.3m in 2018. 4 The Sunday Times September 8, 2019 TECH TRACK 100

LUIS SINCO suspicious online behaviour to stop fraud attacks as they happen. Its platform monitors customer data from clients including Danske Bank, Worldpay and ClearBank, and learns to think in the same way as customers would, therefore allowing it to more accurately detect ever-more sophisticated fraudulent behaviour. With its software used in more than 180 countries, sales hit £10m last year under chief executive Martina King, 58. It has opened a US office in Atlanta and raised £25m from venture capital firms in January to further its international expansion.

26 Monterosa 109.56% Audience interaction platform Fans of ITV’s Love Island downloaded Monterosa’s branded app 3.5m times in 2018 and spent more than £5m on its in-app store. Founded in 2003 by Tom McDonnell, 41, Igor Loboda, 44, and Simon Brickle, 50, the company creates apps and digital products to engage TV and sports fans with features such as voting, trivia and augmented reality. It works with brands, broadcasters and rights holders including EA Sports, Viacom and The Jockey Club. Sales hit £10.1m this year, helped by expanding its ecommerce function, which allows clients to sell their merchandise directly through the app. It has raised a total of £1.9m from angel investors.

27 Lockwood Publishing 107.97% Mobile games developer Starting as a PlayStation games developer in 2009, this Nottingham- based business switched to creating its own games for mobile six years ago. Since then, its core product, Avakin Life — where people can customise their avatars in a virtual world — has reached 2m downloads a month and 70m active users. Led by co-founder and chief executive Halli Bjornsson, 52, the company generated sales of £17.9m this year, helped by a Christmas promotion in which 4.5m festive gifts were sent to more than 1m players. Avakin Life brought sales of £17.9m this year to its developer, Lockwood Publishing (No 27). Players design a character to represent themselves and explore a virtual world, chatting to other players’ avatars The game has also proved an international hit, with 95% of revenue coming from overseas, primarily 18 Light Source 146.90% including software that enables people the gross value of goods and services firm developed into an international Siilasmaa, 53. Now based in Cumbria, America, Brazil and Russia. Telecoms infrastructure builder to pay for road tax or file for divorce at bought as well as its fees, hit £53.6m last telecoms company in 2015, and sells the company runs an online Founded in 2000 by Steve Hill, 50, Nick gov.uk. It has also created a digital year. In April, Perkbox secured £13.5m in airtime and SMS to more than 1,100 marketplace operating in 32 countries 28 Plan.com 107.83% Martin, 55, and Kevan Egan, 60, this service for the Department for funding from Draper Esprit and others phone providers in 130 countries, and 17 languages. Shoppers buy in their Communications provider Nottinghamshire company helps design International Trade to help businesses to aid its expansion overseas. including China and Russia. The firm own language and currency on the site, A service provider for O2, this company and build fibre-optic broadband export online. Sales reached £14.4m this operates through its brand Bank of which offers more than 10m products packages minutes, texts and data under networks for the likes of Openreach, year, and it plans to work with clients in 21 Lending Works 128.54% Telecom, a platform that automates its from 20,000 brands. Led by co-founders its own brand and sells to business Kcom and Huawei. After connecting the private sector and expand in areas Peer-to-peer lender telecoms services and allows customers Dominic Allonby, 56, and Darren Naylor, customers through a network of more 250,000 homes and businesses in Hull such as IT security and data science. Co-founded by Nick Harding and Matt to receive payments online within two 52, the business is backed by private than 650 mobile partners. Its software with Kcom, it is building networks across Powell, both 36, in 2014, this peer-to- hours. Last year it set up a subsidiary in investors including former Marks & platform allows customers to monitor Leeds, Manchester, south and west 20 Perkbox 131.50% peer lender has provided more than Malta, which will allow customers to Spencer boss Lord Rose, 70. Sales, which their telecommunications in real time, Yorkshire and Edinburgh. This is part of Employee engagement services 30,000 loans. The London-based make payments using instant blockchain come from net fees, reached £6.7m in enabling them to map usage and avoid Openreach’s programme to provide Co-founders Saurav Chopra, 41, and company says it has sacrificed margins technology. Sales reached £60.2m this 2018, from a total transaction value of any bill shocks with live alerts. It also gigabit-capable fibre to 3m premises in Chieu Cao, 42, launched this business in to boost customer experience and was year, which include the gross cost of £26m. The firm plans to white-label its offers apps and hardware such as tablets UK cities by 2020 and a further 10m by 2010 to help employers engage with the first peer-to-peer provider to arrange voice calls and SMS sold via its platform. platform and expand its global presence. and mobile phones. Based on the Isle of 2025. Turnover grew to £31.1m last year. their staff. Its platform — which has insurance for its lenders, protecting Man, Plan was founded in 2013 by chief signed up more than 900,000 against borrower default. Lending Works 24 Fruugo 116.00% 25 Featurespace 110.71% executive Dan Craddock, 41, and Keith 19 Digi2al 141.56% employees from 14,000 companies also provides a white-label platform for Online shopping platform Analytics software developer Curran, 55. Sales, which include airtime Digital technology developer including Whole Foods and Nando’s — partners such as Revolut. Since securing Fruugo was born out of a Finnish Developed at Cambridge University, charges for mobile usage, grew to The Home Office, the Royal Navy and the offers deals and discounts, ranging from funding from business angels, the venture backed by Nokia chairman Risto Featurespace’s software identifies £47.9m last year. Ministry of Justice are just some of the free mobile phone insurance to cheap company has raised more than £10m organisations that use Digi2al’s software. cinema tickets. Last year, it launched from investors including Maven Capital Founded in 2013 by chief executive Colin products including Perkbox Medical, and Pollen Street Capital. Sales, which Campbell, 50, it provides the public giving employees 24/7 access to GPs and comprise commission from loans and SECTOR BREAKDOWN OF THE TECH TRACK 100 sector with cloud-based services, medical insurance. Sales, which include interest, hit £6.2m in 2018.

22 Faculty 125.91% Software Fintech Online consumer Telecoms services TOM STOCKILL AI software developer services and technology In collaboration with the Home Office, this London business used its artificial intelligence platform to create an algorithm to detect Isis propaganda, and so reduce terrorist attacks. It has completed more than 300 AI projects for customers including easyJet, Tesco and the BBC, and this year it worked on the 9 7 government’s AI adoption review. Founded as ASI Data Science in 2014 by Digital marketing Marc Warner, 35, Angie Ma, 38, and Andrew Brookes, 35, the company 6 rebranded in February. It has received more than £3m in backing from Advertising technology investors including Skype co-founder Jaan Tallinn, 47, and LocalGlobe. Sales 5 hit £5.2m this year, and the company Media and entertainment plans to double staff numbers by the end 24 of the year and expand overseas. Hi-tech manufacturing 5 23 Internet Mobile Communications Health 122.54% 4 Telecoms services provider Other Launched in 2012 by chief executive Mark Stewart, 55, as a mobile app for 9 Martina King’s Featurespace (No 25) was spun out of Cambridge University international calls and messages, this 26 9 5 The sun is shining behind those global tech storm clouds

Digital technology These are not social commercial officer, Richard executive, says: “We are says gohenry’s prepaid debit had been trained to help a enterprises in the traditional Sargeant, “and at the heart living in politically engaged card and mobile app provide child with autism — the dog still has the power sense, but for-profit ventures of our mission to apply times. Young people around a safe way for children to cost £6,500 and its owner that have a strong sense of leading-edge AI technology the world are speaking out learn about managing had trouble finding to accelerate purpose, striving each day to to real-world problems.” against perceived injustices, finances. “There’s every insurance elsewhere. positive social design services that tackle Public-sector partners, unethical business practices reason to believe that With social and modern social issues. This such as Parkinson’s UK, gain or policies they believe to be Generation Z will be more commercial success going change sense of purpose is a low-cost opportunity to antiquated or uninformed. financially empowered than hand in hand, these motivational for my team at access potentially Tech companies permeate the generations which have entrepreneurially spirited BDO working with these transformational AI every avenue of our lives, so gone before,” she says. scale-ups are a crucial part of TONY businesses. technology. One recent seeking information about “Learning to manage money our economy. Our global SPILLETT For instance, Faculty project with NHS England companies who are using is an essential life skill and as team of technology industry BDO (No 22) has built an artificial involved a PhD in stem-cell their power responsibly and with most life skills, it’s best specialists is championing intelligence model to help research from King’s College effecting positive change has to learn when you’re young.” their cause through BDO’s the Home Office identify London applying machine- become a top priority.” gohenry is one of 24 “new economy” campaign in When global tech giants terrorist propaganda videos, learning techniques to Firms such as Depop fintech companies that which we are calling on the incur $5bn fines for privacy stop them being uploaded analyse more than 14m enable entrepreneurship. feature in Tech Track 100 government to bring in breaches while facing and reduce the potential for hospital admission records to One of the company’s more this year, illustrating the policies that promote skills, investigations into lone-wolf attacks on UK help predict inappropriate than 15m users is Saffron competitive advantage that build infrastructure and monopolistic behaviour and streets. It has a distinct surgical procedures; while Gillespie, a 16-year-old the UK has in this field of simplify the tax system to foreign demands for digital philosophy of working another Faculty student Londoner who sells second- commercial innovation. help mid-sized services taxation, you could towards the public good and helped develop a tool that hand clothes and accessories Another is the insurance entrepreneurial businesses be forgiven for wondering has launched a fellowship can predict delays at key through the platform. platform Bought By Many grow further. what has gone wrong. programme, teaching our railway stations. “I’m not into fast fashion (No 37), which uses social I am delighted that this is Technology, after all, is brightest science graduates Faculty’s actions show gohenry (No 44) helps children learn to manage money at all. Climate change is such media to bring together our 10th year of sponsoring meant to be a force for good. to combine academic how tech firms can help a big issue and so is unfair groups of people with Tech Track 100 and to Yet these headlines excellence with commercial tackle skills shortages in the firm 83North to encourage aspirations. Depop has labour and I don’t want to be specific insurance needs. Its support the great businesses obscure an important story — objectives. UK. Social shopping app more women to explore tapped into this need by adding to that,” she recently customers range from stage on this league table as they the positive impact British “It’s an eight-week boot Depop (No 46) is also active. careers in technology. creating a peer-to-peer told gohenry, another hypnotists, yoga instructors continue to make such a tech firms have on society. camp for some of the most Last month it took on its first Young people are commerce platform where pioneering company on this and scuba divers, to the great impact on our lives. The fantastic stories behind talented science PhDs cohort of young science, increasingly aware of their consumers sell used and year’s table, at No 44, for its owners of unusual pets, this year’s Tech Track 100 looking to move into the technology, engineering and impact on the planet and vintage clothing in an easy “youth economy” report. such as crocodiles, parrots Tony Spillett is a tax partner companies go some way to commercial data-science maths graduates as part of an look to innovative and visually attractive way. Louise Hill, co-founder and llamas. It recently and UK head of technology address the imbalance. industry,” says Faculty’s chief initiative with venture capital enterprises that share these Maria Raga, its chief and chief operating officer, provided cover for a dog that and media at BDO The Sunday Times September 8, 2019 5

help brands, including Spotify, Google 39 Fleximize 92.54% and Nigeria through a network of local and Asos, engage with customers. It Business finance provider agents, 50% of whom are women. created a chatbot for Adidas that offers This Ipswich-based company provides Customers pay in weekly instalments free fitness classes for women, and built unsecured loans of up to £250,000 and and, once paid for, all future energy is an augmented reality rugby game on secured loans up to £500,000 to small free. Led by chief executive Simon the Snapchat app for Just Eat to and medium-sized enterprises across Bransfield-Garth, 59, sales reached coincide with the Six Nations the UK. Having built its proprietary loan £8.8m in 2018 and are on track to more championship. Jamie Kenny, 46, and platform in-house, the company is able than double this year. In June, the Alex Miller, 40, founded Byte in 2014 to provide customers with same-day company raised $26m from Japanese and opened offices in New York in 2017 loans — 90% of which are automated. conglomerate Marubeni, as well as and Berlin this summer. Gross sales, Co-founder and chief executive Peter existing investor IP Group. which include media buying for some Tuvey, 39, started and funded the clients, hit £18.3m company with two associates along with 43 Receipt Bank 89.78% last year. backing from Aurium Capital Markets in Bookkeeping automation services 2014. A £16.3m financing facility Frustrated by the amount of time and 36 Matillion 94.13% provided by Hadrian’s Wall Capital in money wasted as a result of forgotten Data transformation software March 2017 helped sales — which come expenses and lost receipts, co-founders Chief executive Matthew Scullion, 40, from interest charges — grow to £8.3m Michael Wood, 43, and Alexis Prenn, 57, co-founded this business in 2011 after last year. launched Receipt Bank in 2010 to convincing three of his former bosses to provide small businesses with invest. Its software collates data from 40 Hyperdrive Innovation 90.00% automated accounting software that multiple sources, loads it into a cloud- Battery technology developer saves time on bookkeeping. Since then, based data warehouse and converts the This Sunderland-based business they have processed more than 150m data so it can be analysed. The supplies lithium ion battery systems receipts, bills and bank statements, company has about 600 customers, that are commonly used in JCB’s opened six offices on four continents including GE, Siemens and Amazon, construction machinery and the smart and raised $65m from investors Kennet across 40 countries, and sales hit £6.5m energy monitoring systems of Tech Partners and Insight Venture Partners. last year. It has raised $60m in funding Track 100 alumnus Geo. Since it was Over the past year, the company has to date, including $35m in June from founded in 2012 by automotive engineer welcomed more than 100,000 new Battery Ventures, Sapphire Ventures Stephen Irish, 44, Hyperdrive has business users, boosting 2018 sales to and Scale Venture Partners. Matillion raised a total of £9.6m from investors £18.6m. In February, former Just Eat has dual headquarters in Manchester including Santon Capital and Hamilton executive Adrian Blair, 44, took over as and Denver, Colorado, as well as offices Capital Partners. Chief executive Chris chief executive. in New York and Seattle. Pennison, 52, oversaw sales of £7.3m this year, driven by the soaring demand 44 gohenry 88.25% 37 Bought By Many 93.91% for cleaner energy technology. In July, it Children’s pre-paid card developer Specialist insurance platform opened HYVE, an electric vehicle Co-founder Louise Hill, 56, created This firm uses social media to connect battery plant, which will allow the gohenry after she and two friends stood individuals with niche interests — from company to produce as many as 30,000 on the sidelines of their sons’ football model railway enthusiasts to diabetes battery packs every year. match, grumbling about their kids sufferers — enabling them to buy nagging for their cards. Hill wanted to specialist insurance more cheaply. 41 GoCardless 89.93% create a tool to teach children about Founded in 2012 by chief executive Payment services provider money management in a digital age, Steven Mendel, 52, and chief Three Oxford graduates set up this while giving parents a level of visibility technology officer Guy Farley, 49, the London fintech firm in 2011. Its and control over pocket money spend. company now offers its own policies platform allows merchants to take Launched in 2012, gohenry provides that focus on niche markets of little payments online via direct debit, with prepaid children’s debit cards that interest to large insurers. In March, users able to authorise them with a parents can top up via an app. It has the London-based business acquired single click. The company says it now raised £21m, including £6m from more digital agency Cotidia to bolster its team processes $10bn of payments a year on than 3,000 investors in a crowdfunding of developers, which now means the behalf of 40,000 businesses, including campaign last November. Under chief firm has a third office, in Birmingham. Thomas Cook and TripAdvisor. Fees hit executive Alex Zivoder, 54, sales — Sales — which represent gross £20.1m last year, under co-founder and primarily comprised of membership premiums — hit £35m in 2019. chief executive Hiroki Takeuchi, 33. In fees — hit £8.3m last year. February, the company raised $75m 38 Checkout.com 93.34% from investors, including Adam Street 45 Gousto 87.68% Payment services provider Partners, GV and Salesforce Ventures, Meal kit delivery services This company develops technology that to fund expansion overseas. It plans to Chief executive Timo Boldt, 34, enables business such as TransferWise grow its network to 35 countries by the founded this meal kit company in 2012 and Adidas to process online payments end of 2019. after he found himself short of time to faster and more efficiently. Founded by prepare fresh food for himself. chief executive Guillaume Pousaz, 38, in 42 Azuri Technologies 89.85% Delivering 2m meals to customers each 2012, Checkout.com integrates different Solar technology developer month, it uses machine learning to payment methods, currency The World Bank estimates that 600m route boxes in its warehouse and conversion, fraud protection and data people in sub-Saharan Africa still do not algorithms that forecast demand to reporting in a single platform. In May, have access to electricity — and Azuri is keep food wastage to less than 0.5%. It Pet insurance is just one of the niche policies offered by Bought By Many (No 37) and marketed over social media in its first round of external investment, trying to change that. Founded in 2012, has raised more than £100m to date, it raised $230m from investors it provides pay-as-you-go solar power to including an £18m funding round in 29 Capital on Tap 100.45% 31 DV Signage 97.82% 33 Chameleon Technology 97.59% including DST Global and Insight households that would otherwise rely January that included health guru Joe Business finance provider Corporate AV specialist Smart energy monitoring Partners, valuing the business at almost on hazardous kerosene lamps. Starting Wicks and a further £30m in July led by More than 80,000 small British This Hertfordshire-based company More than 4m of this company’s smart $2bn. Its nine offices across Europe, out in Kenya, the company has now private equity firm Perwyn. Sales hit businesses, ranging from electricians helps multinational corporations — in-home displays have been installed in America and Asia helped sales, which sold more than 150,000 solar panel £49.3m last year and the company and taxi firms to shop owners and including IBM and Microsoft — build UK homes since it was started by Gary consist of platform and transaction fees, systems to customers in 12 countries, plans to deliver 400m meals to UK consultants, have borrowed more than tech-enhanced offices and smart Martin, 39, and Mike Woodhall, 52, in hit £55.7m in 2018. including Tanzania, Uganda, Zambia homes by 2025. £1bn from this online lender. It can buildings. It combines its proprietary 2010. The Harrogate-based firm designs issue as much as £50,000 in credit software platform with robotics, audio- and builds its display units, which help within four business days. Customers visual technology, artificial intelligence consumers monitor energy usage and can either access the funds via a credit and specialist hi-tech displays to make costs. The government’s smart energy card or have them transferred directly buildings interiors more interactive for rollout — which requires every into their bank accounts. Serial staff and visitors. One of its largest household and small business to be entrepreneurs George Karibian, 54, projects last year was a 10-storey offered a smart meter by their energy and Jan Farrarons, 43, founded Capital innovation centre for the multinational provider by 2020 — has boosted on Tap in 2012, with chief executive services giant Accenture in Bangalore. demand for Chameleon’s products, David Luck, 36. It has raised £200m Co-founders Richard Cobbold, 51, and driving sales to £21.8m last year. in debt funding to date and sales — James Henry, 60, set up the company in which come from interest charges — hit 2008, having previously founded 34 iwoca 97.06% £39.3m this year. electronics company Digital View. Business finance provider Offices in America, India, the This company says it has funded more 30 In Touch Networks 98.10% Philippines and Hong Kong helped sales than 26,000 small businesses across Professional networking platform reach £5.1m in 2018. Europe since it started trading in 2012. This firm’s professional development Its technology uses data such as and networking platform helps senior- 32 Ogury 97.77% cash-flow forecasts to assess a level professionals transition to the next Mobile data marketing business’s risk profile and make credit stage in their careers. Launched in With access to data from more than decisions quickly and accurately. It has 2013, it now has more than 125,000 400m mobile phone users in more than raised £350m in funding to date, members, who pay a subscription fee to 120 countries, this east London including £150m in February in a mix of access services such as CV writing and business helps marketers identify and equity and debt led by Augmentum. executive coaching, and are also able to connect with their target audiences and Sales, which are made up of interest be approached directly by prospective provides app publishers with insights and fee payments, grew to £47.5m last employers. Its software allows members into the use of their products. year. The company is led by to build an online profile. Businesses Co-founders Jean Canzoneri, 36, and co-founders Christoph Rieche, 39, and can then search profiles and contact Thomas Pasquet, 37, set up Ogury in James Dear, 38, and aims to finance members directly — eliminating 2014 after selling advertising firm BeeAd 100,000 small businesses in the UK recruitment costs. The Manchester firm in 2012 for €25m. Gross sales — part of over the next five years. is led by chief executive Matthew which are paid to media publishers for Roberts, 34, and sales, which represent the delivery of advertising campaigns — 35 Byte 95.79% its fees, reached £7.4m in February. It hit £62.3m in 2018. The firm secured Marketing technology agency opened an office in Chicago in March, $21m in venture capital last year, This London-based agency uses and plans to target Dubai and Sydney. making a total of $42m to date. emerging marketing technologies to Azuri Technologies (No 42) is selling its pay-as-you-go solar panels across Africa 6 The Sunday Times September 8, 2019 TECH TRACK 100

ELAINE TORRES Edge Capital, Lone Pine Capital and Vitruvian Partners, taking the total it has raised to $689m and valuing the firm at $3.5bn.

53 Assetz Capital 85.77% Business finance provider This lender’s digital platform, created by 20 in-house software developers, aims to increase the transparency and efficiency of business lending. It was founded by chief executive Stuart Law, 55, in 2012, and focuses on small and medium-sized firms and housebuilders. The company says it funded 1 in 100 of all new homes built last year. In total, it has funded more than £800m of loans via 35,000 lenders, and its innovative finance Isa has 4,800 investors and almost £100m invested. This year, turnover hit £17m and it raised £1.9m from its third round of crowdfunding, bringing total funds raised to £7.2m.

54 Darktrace 84.73% Cyber-security developer This company’s software detects and counters cyber-security threats for customers as diverse as T-Mobile, the Church of England and the City of Las Vegas. It uses artificial intelligence to learn the behaviour of every user, device and application within an organisation, builds a picture of a normally operating system, then quickly detects unusual activity that could indicate a malicious attack. Founded in 2013, it has joint headquarters in Cambridge and San Francisco, with a further 39 offices globally. It has raised more than $230m from investors including KKR and Vitruvian Partners, and is reportedly valued at $1.65bn. Under chief executives Nicole Eagan, 55, and Poppy Gustafsson, 37, sales hit £107.7m this year.

55 Payen 80.58% Payment services provider TV makeover star Tan France helped promote the launch of a debit card from TranserWise (No 52) in the US this year. In May the company completed a $292m funding round, valuing the company at $3.5bn Founded by chief executive Alexander MacAngus, 58, and chief commercial 46 Depop 87.48% products ranging from email software incurring charges. The company connection. The founders — university 52 TransferWise 85.96% officer Richard Smith, 43, in 2010, Payen Fashion marketplace app and document storage to encryption and launched its first product, SafetyNet friends Dana Tobak, 50, and Boris Currency transfer provider spent four years on development before Depop’s peer-to-peer online anti-virus software. The Hull-based firm Credit, in 2012, and appointed Rob Ivanovic, 49 — had previously started Founded in 2010 by Taavet Hinrikus, releasing its payment processing marketplace allows users to buy and sell was set up as an internet service Ashton, 35, chief executive in 2013. another internet service provider, 38, and Kristo Kaarmann, 39, platform for online retailers. The second-hand and vintage clothing provider 20 years ago, before changing Turnover — which comes from the Be Broadband, which they sold to O2 for TransferWise became the first non-bank Guildford-based business also helps through its app and retail spaces. direction to focus on the fast-growing interest charged on loans it approves— £50m in 2006. They set up Hyperoptic to gain access to the Bank of England’s clients increase their credit card Founded in 2012 by Simon Beckerman, cloud computing market. In 2017, chief hit £68.2m last year, with operating in 2011 and two years later raised £50m payment system last year. This allows it acceptance rates worldwide, reducing 45, its mix of social media and digital executive Mike Wardell, 38, led a profits of £19.3m, one of the highest in from the billionaire George Soros to bypass established banks and charge “basket abandonment”. It operates in 12 marketplace has proved popular with management buyout from the founder, the league table. through his Quantum Strategic Partners its 5m customers lower fees. It moves currencies, with the majority of revenue Generation Z; 90% of its 15m users are Nick Marshall, 49, in a deal funded by investment vehicle. Last year, the £4bn every month between 49 coming from international markets. under 25. Under chief executive Maria private equity firm Livingbridge. Sales 49 Gigaclear 87.19% company raised £250m of debt from a currencies, and has 12 offices globally, Sales, which consist of processing fees, Raga, 40, sales hit £172m last year, a reached £25.1m last year. Internet services provider consortium of banks, including Barclays, including in Tokyo, New York and were £14.2m this year. The company is figure that denotes the total cost of items Specialising in supplying high-speed to extend its network to 50 more towns Brussels. Sales — fees paid for transfer backed by Magenta Partners, which sold via the platform, with the business 48 Account Technologies 87.39% broadband services to rural areas, this across the UK. Partnerships with more services — reached £179.1m this year. invested £10m in 2017. taking a 10% commission on every sale. Consumer finance provider Abingdon-based firm has connected tens than 50 local councils helped boost sales In May, the company completed a In June, it raised $62m from General People who find it difficult to obtain an of thousands of rural customers across to £26.9m in 2018. $292m funding round led by Lead 56 Thread 80.22% Atlantic and existing investors — overdraft from their banks might turn to the UK to broadband. By targeting Online fashion services including Octopus Ventures — bringing Account Technologies, which develops households that had been ignored by This firm’s machine-learning platform total funds raised to $105.6m. software to analyse individuals’ bank conventional telecoms providers, provides a free personal styling service transactions, and identifies and manages Gigaclear has carved out a niche for HEADQUARTER LOCATIONS OF THE TECH TRACK 100 to customers. Its technology, which is 47 Giacom 87.43% risks before approving loans. It tracks itself, developing a framework from supported by a team of human stylists, Cloud services provider customers’ daily balances and deposits similar operators in Sweden and crunches data on an individual’s tastes, More than 3,000 software resellers, money when the balance drops below a Holland. Founded in 2010, it is such as their budget, preferred brands consultants and IT service providers use pre-agreed level to avoid customers developing a full-fibre rural network and previous purchase history, to Giacom’s cloud-based platform to buy falling into unauthorised overdrafts and across the UK, with 93,000 homes generate weekly personalised emails. connected by the end of 2018, and plans While the firm currently sells only to to connect 350,000 properties by 2021, men, it is set to expand into women’s a project it says will require funding of fashion, as well as other international £450m. Sales reached £9m last year. markets. Chief executive Kieran O’Neill, Scotland Gareth Williams, 53, took over as chief 1 32, started Thread with chief technology executive in February, when majority officer Ben Phillips, 39, in 2012 and owner Infracapital led an £85m funding recently raised £16.7m in funding in a round. round led by H&M, bringing total funding to about £32m. Turnover, which 50 Oakbrook 86.86% is the value of goods sold, grew to £8.1m Consumer finance provider last year. Founded in 2011, this Nottingham-based business has lent more than £100m Northeast & Yorkshire 57 SuperAwesome 79.00% to consumers through its Likely Loans Children’s privacy protection and Appro Loans websites. Thanks to 7 With more than 170,000 children changes in banking regulations, worldwide going online for the first time Oakbrook has been able to create more Northwest 7 every day, the issue of online privacy is detailed profiles of loan applicants, becoming increasingly sensitive. using machine learning to help SuperAwesome’s technology platform is estimate borrowers’ credit risk. This Midlands used by brands such as Lego and Mattel has enabled it to make lending decisions to enable safe digital engagement with for those who may otherwise have children, while at the same time East been declined. Led by chairman and 8 ensuring they comply with relevant interim chief executive Mark Onyett, 5 legislation. Serial tech entrepreneur 47, it is backed by investment firm Wales 1 Dylan Collins, 40, founded the company Blenheim Chalcot. Last year sales in 2013 and has since raised $38m, increased to £53.3m, a figure that is including $13m in February from made up of interest payments. 57 investors including Hoxton Ventures, where he is a partner. Turnover grew to 51 Hyperoptic 86.60% Southwest 12 £26.2m last year, as increasing numbers Internet services provider 2 of children swap television viewing for This business provides fibre-optic digital media. The firm is reportedly broadband services that it says are 18 Southeast London considering a listing in either the UK or Chief executive Nicole Eagan helped Darktrace (No 54) raise more than $230m times faster than the average UK America next year. Building your network will boost your business

DAVE PHILLIPS Connecting with advice as they expand their also likely to have many The results of the great role model for other companies. challenges in common, such connections we have helped firms nationally. entrepreneurs As I found during my time as how to scale up rapidly for make and experiences we Our experience at BGF as chief executive of sustainable growth, build have been able to share are tells us that, despite Brexit yields ideas, LoveFilm, which appeared sales in an uncertain market well represented in this and unsettled world markets, contacts and short four times in the league table and, given the current talent league table, with companies early-stage companies in the before we sold the business squeeze, keep recruitment such as online menswear UK are continuing to grow cuts to success to Amazon in 2011, a few on track. supplier Spoke (No 12) and rapidly and to hunt for the words shared with a fellow The richness of online prescription service right kind of capital. With Tech Track 100 alumnus can experience among the Tech Pharmacy 2U (No 91). our patient approach, which SIMON be invaluable. They might Track 100 companies reflects Fruugo (No 24), a cross- allows entrepreneurs to CALVER yield an introduction that how diverse the sector has border shopping platform continue to lead their BGF could change the direction of become. It is also far broader that increased sales by 93% a businesses, and regional your company, bring in a than it used to be, because year over three years to model, with offices in every transformational new technology is now a business £6.7m in 2018, on a total region in the UK, we have Building a successful employee, or simply create a essential. transaction value of £26.1m, sustained our pace of fast-growth tech firm is relationship with somebody Providing access to a stands out as a young investment, deploying a exhilarating, but it can be to share the challenges of the network is a key part of what company that has built its record £160m in 55 deals in crushingly exhausting too. journey — which can be a we offer at BGF, the growth network skilfully. Its the first half of this year. The So heartfelt congratulations lonely one. capital investment firm directors and investors are a time to invest is when you to all the companies in the Even if the entrepreneurs whose early stage brains trust of retail industry can make the most of 2019 Tech Track 100 league you meet can’t offer the help investments I lead. We have experience — including Lord uncertain times and table — the recognition is you need, they can often put backed nearly 300 UK and Rose, the former chairman of ponderous competition. well deserved. you in touch with someone Irish small and medium-sized Marks & Spencer, along with Mark Livingstone of Pharmacy 2U (No 91) is backed by BGF In an age when shallow Making it into the league who can. These connections enterprises with more than former chief executives from connections can be easily table can be a great calling with other ambitious £2bn since 2011, yet one of Matalan and Shop Direct — centres, such as Manchester, is BGF-backed Rebound investment we made last year, made on social media, card and a useful way to companies that understand the most attractive aspects is and are well placed to help Reading or Cambridge, to be Returns (No 10), co-founder Graham Best is entrepreneurs who can focus cut through in the UK’s your stage of evolution can our talent network, which Fruugo as it expands. well connected. Indeed, headquartered in Shropshire. expanding into Asia and on building more meaningful crowded tech scene. More be vital. represents one of the largest It is based in the small more than 70% of BGF’s Its software helps consumers managing 35m returns for networks, and use them to importantly, Tech Track 100 While each company has groups of business Lake District town of investments are in return goods bought online, 500 clients a year. benefit their companies, companies are joining a its own specific challenges, professionals in the UK and Ulverston, proving you don’t companies based outside the and its sales have climbed to Given the company’s rapid stand at a real advantage. ready-made network that such as navigating lets us connect companies have to have your capital and the southeast. £16.7m since it was founded growth and relentless focus allows entrepreneurs to technology decisions in AI with the people and services headquarters in London or Another regional in 2014. With the on solving a genuine Simon Calver is head of share hard-won insight and and cybersecurity, they are they need. one of the typical tech champion in the league table multimillion-pound problem for customers, it is a investments — ventures at BGF The Sunday Times September 8, 2019 7

WWD/REX/SHUTTERSTOCK 58 Vizolution 77.76% 62 Azimo 72.44% investment led by C Ventures and Business software developer Currency transfer provider Highland Europe. HSBC, RBS and Santander are among Executive chairman Michael Kent, 44, the blue-chip customers of this Welsh and Ricky Knox, 44, founded Azimo in 66 Unify Communications 69.33% company, whose software helps large 2012 to help people transfer money Customer service software organisations simplify their digital worldwide quickly, safely and cheaply. Unify’s cloud-based contact centre and interactions with customers. Founded The online service is available in nine customer experience platforms are used in 2008 by chief executive Bill Safran, languages and allows users to send by businesses such as Addison Lee, 55, and Huw Rees, 47, its software money to more than 200 countries in Nuffield Health and Holland & Barrett to enables customers and agents to share, 80 currencies. Its payout methods connect with customers through email, sign and work on documents over the include cash, bank deposits and mobile call centres, web chat, AI chatbots and phone or online. Its service is used by wallets. In 2018, the firm launched its other channels. Its software automates more than 30 organisations in the money transfer service for businesses customer service by aggregating financial services, telecoms and utilities and added an office in Amsterdam to its customers’ data and directing them to industries. Last year, it opened an bases in London and Krakow. It also the appropriate tool or contact method, American office in Boston, adding to launched its service in Hong Kong. depending on their query and contact sites in Swansea, London, Bristol and Turnover, which comes from its fees, hit history. The company was founded by Toronto. Sales hit £10.2m in 2018. £10.8m in 2018. Russell Attwood, 49, in 2012, after the sale of his former company Call Centre 59 BigChange 77.44% 63 Endomag 72.36% Technology to Capita in 2011. It recorded Workforce management software Medical device developer sales of £5.7m last year. More than 1,000 enterprises around the After nine years of developing and world use this company’s software to commercialising its technology in 67 MiQ 68.48% manage employees working remotely, in Europe, this medical devices business Digital marketing agency industries such as waste management, secured regulatory approval to sell to Online advertising veterans Gurman construction and utilities. Its software hospitals in America in 2016. It has Hundal, 36, and Lee Puri, 45, set up connects back offices, mobile workers created a minimally invasive and this agency in 2010 to help clients use and customers, with features such as job radiation-free way for surgeons to data to target their marketing more scheduling, vehicle tracking and a locate breast cancer tumours and effectively. Its proprietary analytics mobile app for workers to manage lymph nodes and remove them platform, AiQ, stores and processes timesheets, expenses and navigation. accurately. Led by chief executive Eric more than a trillion data points every The Leeds-based company says the Mayes, 49, it has raised close to £17m, day, allowing it to provide insight system helps boost safety and efficiency, most recently securing an £8m reports and targeted advertising saving each worker an average of eight investment from Draper Esprit in July campaigns for brands such as Audi, hours of admin and 10 hours of travel 2018. With sales of £6.3m last year, it Tesco and Sony. Opening six offices in time each month. Sales hit £11.2m last plans to expand by using its technology the US and Canada helped sales — which year, under the guidance of chief in the treatment of other cancers, such include costs of media-buying for clients executive Martin Port, 57, who founded as melanoma and prostate cancer, and — to hit £196.9m last year. The business the firm in 2013. to increase its presence in NHS hospitals added more than 100 people worldwide this year. to its payroll over the course of 2018. 60 Symetrica 74.24% Detection equipment manufacturer 64 QHi Group 71.02% 68 Neyber 66.99% This Southampton University spin-out Monitoring systems developer Personal finance technology designs and manufactures equipment This Hertfordshire firm develops sensors developer used by customs and border protection that monitor the temperature of critical Employers use this company’s agencies to identify radioactive material electrical systems to prevent technology to offer staff loans that are that could be used in bombs. Its overheating, the leading cause of power repaid from their salaries. Employees technology can be found in handheld failure in electrical equipment. Its can also save directly into a workplace detectors used by agencies such as the technology is used by data centres, as ISA and benefit from free financial US Department of Homeland Security, well as customers in the oil and gas, education and insights. Neyber was and in drive-through scanners at ports in healthcare, marine and utilities founded in 2014 by chief executive Europe. Founded in 2002, it has raised industries. The company’s growth has Martin Ijaha, 37, Monica Kalia, 46, and £10m from investors, including Parkwalk partly been driven by the increasing use Ezechi Britton, 39. It has raised £150m in and the innovation charity Nesta. Led by of sensors and the data they gather, funding, including £100m in debt and chief executive Heddwyn Davies, 67, the with manufacturers expected to use equity financing from Goldman Sachs in company increased sales to £11m last monitoring devices in their equipment 2017. Neyber offers its services to more year. It plans to bolster its US presence to spot performance problems. Exports than 1.7m people from more than 400 by expanding its manufacturing facility accounted for 99% of its £5.1m sales this companies, including Royal Mail, Asda in Massachusetts. year, under founder and chief executive and the Co-op. Revenue — which comes Ross Kennedy, 69. from loan interest — hit £5.7m in 2019. 61 StarLeaf 73.53% Video-conferencing platform 65 Threads Styling 69.84% 69 TVSquared 66.86% Formed 11 years ago by a trio of veteran Online fashion services TV advertising analytics telecoms entrepreneurs, this Watford This company helps cash-rich but time- This firm’s television analytics company designs and manufactures poor fashionistas buy the latest luxury platform helps thousands of brands, cloud-based video-conferencing systems clothes, footwear and accessories. agencies and networks across 70 and software for company meeting Shoppers browse through photos on its countries to track how linear and rooms, desktops and mobile devices. social media accounts and then use advanced television advertising affects Mark Loney, 50, William MacDonald, 54, messaging services such as WhatsApp to business outcome and drives sales and and Mark Richer, 55, had previously place an order with its personal growth. Established in Edinburgh in formed the video-conferencing business shoppers, who might also match them 2012 by the serial entrepreneur Calum Codian, which appeared in Tech Track with other items. Threads Styling holds Smeaton, 50, it now has offices in Sophie Hill of Threads Styling (No 65), which allows its customers to place fashion orders over instant messaging 100 in 2007, before being bought by no stock: it simply arranges for goods to Tokyo, Sydney and New York. It has Norway’s Tandberg for $270m. In 2017 be delivered by its partner retailers. received more than $26.6m in funding Dundee-based serial entrepreneur half its £6.7m revenue in 2018 came from phone games this company produces for StarLeaf raised $40m from investors, Sophie Hill, 36, a former fashion buyer from investors, including the Scottish Chris van der Kuyl is its chairman. Last international clients, including the an audience of more than 220m including Highland Europe and Grafton and stylist, started the business in 2009. Investment Bank and West Coast year sales increased to £7.2m. telecoms groups Verizon in the US and worldwide. Since launch in 2011, it has Capital. Sales hit £17.6m in 2018, and this Sales — which include the gross value of Capital — the investment vehicle Telus in Canada, which use its worked with a number of brands, year it expanded in the US with new goods sold — grew to £17.7m in 2018. Last funded and founded by the Scottish 70 The Access Group 66.83% technology to help ensure repair and including a licensing deal with Formula offices in New York and Chicago. year the business secured a £15.7m entrepreneur Sir Tom Hunter. The Business software developer installation appointments are kept. One to create F1 Manager, a game where

MARK ASHBEE More than 16,000 UK businesses and Amadeus and Beringea invested £2.5m players create teams to race against rivals. not-for-profit organisations use this in 2016 to fuel overseas expansion. In 2017, Hutch raised $5.5m from Index firm’s business management software Ventures and Backed VC and opened a for functions such as finance, supply 72 Hutch 65.97% technology development hub in Canada. chain and human resources. Customers, Mobile games developer Under chief executive and co-founder which include Hamleys, Blenheim Top Drives, Hot Wheels: Race Off and Shaun Rutland, 44, sales hit £11.6m last Palace and Cineworld, are served from MMX Racing are some of the mobile year, with 90% generated overseas. the firm’s 20 UK offices. Under chief executive Chris Bayne, 48, sales grew to £143.1m last year, fuelled by the completion of 14 acquisitions since 2015, LARGEST EMPLOYERS IN THE TECH TRACK 100 including four digital learning and compliance businesses this year. It was Rank Company Activity Staff valued at £1bn in its latest funding 52 TransferWise Currency transfer provider 1,516 round, in April last year: investors include HgCapital and TA Associates. 70 The Access Group Business software developer 1,332

71 ContactEngine 66.34% 54 Darktrace Cyber-security developer 948 Conversational AI technology 84 Godel Technologies Software developer 732 This London firm’s team of engineers, linguists and behavioural scientists uses 1 Revolut Digital banking services provider 700 AI and machine learning to produce 51 Hyperoptic Internet services provider 667 software that automates conversations between companies and customers, and 96 WorldRemit Currency transfer provider 615 learns from them. Chief executive Mark 67 MiQ Digital marketing agency 570 Smith, 53, founded the firm in 2009, having previously established the online 38 Checkout.com Payment services provider 450 conferencing company RMR before it 43 Receipt Bank Book-keeping automation services 445 was floated in 2000. Domestic clients A minimally invasive surgical technique developed by Endomag (No 63) is being adopted by the NHS include Virgin Media, BT and Sky. Nearly 8 The Sunday Times September 8, 2019 TECH TRACK 100

TOM STOCKILL Brompton in 2011 and spun it out of York. Sales hit £28.2m in 2019, and it monitoring for money-laundering Carallon last year. Almost 90% of celebrated passing the 200-employee compliance, by cross-checking and Brompton’s £7.2m sales were generated mark this year. It is led by co-founders verifying identities. Demand for its overseas in 2018, and this year it opened Matt Barrett, 38, John Marks, 43, Olivier services has accelerated since the UK an office in China. Deheurles, 39, and Loic Roze, 39. introduced new regulations in 2017, helping revenues grow to £8.1m last year. 77 iPlato 61.24% 83 Student Beans 57.62% It was launched in 2011 and is led by Healthcare app developer Student loyalty network chief executive John Dobson, 69, who This health technology firm’s myGP app The Times and Greggs are two of more co-founded consumer data firm is used by 3,000 of the 7,000 GP than 650 brands that use the Student Callcredit, which was acquired last year practices in England, as well as 69 Beans technology platform to offer by TransUnion for $1bn. healthcare organisations. More than student discounts. Founded in 2005 23m patients can arrange and cancel by James Eder, 36, and brother Michael, 87 Liberis 56.07% appointments, order repeat 38, the London company works in Business finance provider prescriptions and send health data to be more than 150 countries, providing This company helps small businesses added to their records, all via their discounts through its mobile app and manage cash flow by providing cash phone. Surgeries use the app to send out website, codes to use in physical stores advances based on the firm’s credit and reminders for vaccines and screening and widgets embedded in brands’ debit card transactions. Founded in checks such as cervical smears. The e-commerce sites. Sales, which 2007, it increased sales to £21.1m last London company is introducing remote come from recurring fees for the use year under chief executive Rob monitoring and video consultations, and of its platform and a share of Straathof, 37, and has provided more plans to expand in America. Sales hit transactions, hit £7.1m in 2019, than £340m to more than 11,000 £5.5m in 2018 under founder Tobias driven by growth in the US and Australia. small businesses. Last year the firm Alpsten, 49, and chief financial officer launched its intelligent pricing tool, Martin Rowden, 50. 84 Godel Technologies 57.21% which offers bespoke online quotes Software developer powered by machine learning. In 12 78 Currencycloud 60.87% Comparethemarket.com, Jet2 and months, the firm has gone from being Payment services provider AO.com are customers of this company, a UK-only operation to launching The growth of the digital economy has whose services include software funding offerings in the Czech Republic, driven sales for this cross-border engineering, quality assurance and Slovakia, America and the Nordic payments provider. Its cloud-based cloud computing. Founded in 2002, the countries, with planned launches in the platform is used by more than 400 Manchester-based business generated Middle East and Asia. businesses, including Revolut (No 1) and sales of £21.7m and employed 730 Travelex, to offer customers money people last year. It has six software 88 cloudThing 55.84% transfers. Founded in 2012, it has development centres in Belarus, having Software developer received £74m of funding, and its opened an office in Mogilev this year. In Founded by four former directors of current round is reported to have raised January, its chief executive, Neil Turvin, Capita in 2012, cloudThing delivers IT £32m from investors, including Visa and 38, became chairman and Neil projects for large organisations such as existing backer GV, Google’s VC arm. McMurdo, 40, was appointed in his the British Red Cross and London’s With headquarters in London, it has place. The company plans to have 1,100 Metropolitan Police and Institute of more than 200 staff globally, with offices full-time employees by 2020. Chartered Accountants. The business, in New York, Cardiff and Amsterdam, based in the West Midlands, provides and a development team in Ukraine. 85 MPB 56.21% software development and data Chief executive Mike Laven, 71, oversaw Photography equipment trading management tools, as well as bespoke sales of £20.4m last year. platform products using existing cloud More than 135,000 hobbyists, collectors technologies. It plans to double the size of 79 Tharsus 60.85% and paparazzi trade photography its teams in the UK and India by hiring Robot designer and manufacturer equipment on MPB’s website. Its graduates and apprentices. Sales hit Tharsus manufactures a grocery- software matches buyers with sellers, £6.1m in 2019, under co-founders Jay handling robot for Ocado’s automated and automates pricing based on Neale, 43, Nick Churchill-Evans, 46, warehouses that it claims is 40% more camera specifications and product Francis Thomas, 39 and Jason Rousell, 49. efficient than its nearest rival. The demand. The company was founded Northumberland company started life as by chief executive Matt Barker, 36, in 89 Zappi 55.19% a welding and sheet metal operation, but 2011 and it employs 125 people in Consumer insights platform chief executive Brian Palmer, 53, Brighton and New York. It also has a Chief executive Stephen Phillips, 50, set refocused the business on autonomous French website and has launched in up this London business in 2012 to robotic machinery. Its customers Germany, helping sales hit £31.9m this eliminate the manual processes behind include BT, 3M, Rolls-Royce and BAE year. In July, MPB raised £9m from market research. Partnering with Systems, and it exports from its Blyth investors, including Acton Capital leading research agencies, the company factory to 14 countries. Sales hit £51.2m and Beringea. It is building a US built a platform to automate research in 2018. operational centre and plans to open methodologies, generating results in another in Germany next year. hours rather than the usual weeks. Its 80 Ensek 60.80% expertise in product development and Energy software developer 86 Smartsearch 56.21% digital advertising has helped its client Ensek has created a software platform to Anti-fraud technology developer base reach more than 600 companies, help energy suppliers, such as Centrica This Ilkley-based company provides including PepsiCo, Experian and and Ovo Energy, to provide better anti-money-laundering services to more Amazon. In February, it secured $8m in customer experience, for example by than 4,000 businesses in the UK and funding from Cipio Partners and Prime allowing suppliers to provide quotes, overseas. Its platform provides a single Ventures. Nine overseas offices helped sign up customers and manage billing source for checks, due diligence and sales hit £24.8m in 2018. and payment online. It was founded in 2010, and co-founder and chief executive Jon Slade, 40, led a management buyout backed by LDC for £15m in 2017, with the private equity house taking a minority stake. As part of the deal, Ian Peters, 60, former managing director of British Gas, joined as chairman. The Nottingham-based business’s sales grew to £8.7m this year.

81 Captify 58.86% Advertising technology company Captify’s technology serves web users Leisure Pass Group (No 75) saw sales of its passes to attractions, such as the Statue of Liberty, hit £276.8m last year with targeted advertising based on their online and voice-search activity. Analysing 33bn searches a month, the 73 Sideshow 65.93% reduce the cost of business-to-business sum, and the next year merged it with its company uses the data to run campaigns Digital marketing agency payments. Its single-use virtual bank American company, Smart Destinations, and offer insights for Amazon, Nike and To improve the experience of buying account numbers are used by travel, and acquired the New York Pass. The Apple, among others. Since its launch in glasses, Sideshow developed technology insurance, education and deal made the group the world’s largest London in 2011, co-founders Dominic for Specsavers that allows customers to e-procurement companies to make fast, operator of its type. In 2018, the Joseph, 35, and Adam Ludwin, 32, have try on virtual pairs, comparing how they secure payments to suppliers and are company began to work with the opened offices in New York, Paris, look with one swipe. The Bournemouth- accepted at more than 35m locations. Shanghai-based booking platform Ctrip Hamburg and Kiev. Panoramic Growth based digital marketing agency uses Sales, which consist of fees charged, hit to capitalise on Chinese tourists visiting Equity invested £1.2m in 2013 for a technology to help other customers, for £269.6m last year, helped by a deal with Europe. Sales, which consist of the total minority stake, and in 2015, Captify example working with easyJet to deliver insurance giant Allianz and the value of cards sold, hit £276.8m last year, raised a further £8m in a funding round live flight information and providing acquisition of payment technology under chief executive Ted Stimpson, 52. led by Smedvig Capital. Sales hit £43m real-time coverage of Birmingham Pride company Invapay in 2017. Its operating this year. for HSBC. Founded in 2008 by chairman profits of £30.5m are the highest on the 76 Brompton Technology 61.86% Tony Hill, 51, it has since acquired four league table. Video technology provider 82 Adaptive 58.56% other companies, Strawberrysoup, Metallica and U2 are just two of the Banking technology developer Thinking Juice, Bennyfoot and Vertical 75 Leisure Pass Group 62.95% bands that use this London firm’s video Adaptive builds bespoke trading systems Leap. Sales this year were £21.7m. Tourism smartcard provider processing products at their concerts. Its for financial clients ranging from This group’s multi-attraction smartcards Tessera software and hardware boosts investment banks to fintech firms. 74 Optal 65.90% are used by 3m sightseers in 37 cities on the performance of LED video walls. Founded in 2012, the company initially Payment services provider five continents. It also builds software Co-founders Chris Hunt, 51, Richard worked with just one investment bank, Founded in 2002 by Rob Bishop, 63, for tourist boards to manage their own Mead, 43, and Nick Archdale, 53, set up but has since expanded to more than 30 Optal issues Mastercard-branded smartcard systems. In 2016, Exponent Carallon, an entertainment technology customers, serviced from offices in payment products to simplify and bought the business for an undisclosed business, in 2004. They started London, Barcelona, Montreal and New An app from iPlato (No 77) is being used by almost half England’s GP surgeries Customer experience is the new battleground

Winners are using experience their customers table. With clear potential for it saves money for the NHS while learning from when we thought of the want, and this focus on continuing high growth, along the way. customer data in order to outcomes we wanted, it was tech to deliver the customer experience — or investment into fintech has Tech-enabled customer improve service. As Smith clear an IPO was the right “CX” — is strongly reflected surged, with Revolut — this engagement drives sales and puts it, ContactEngine allows answer. It would allow us to smoother services in this year’s Tech Track 100 year’s top-ranked company — supports customer retention, companies to “hold increase our brand equity, that give them a league table. securing $250m in funding and companies such as proactive, human-like and have more efficient and Engagement via mobile is last year to give a valuation ContactEngine and essensys, conversations simultaneously faster access to capital when competitive edge now crucial for firms selling of $1.7bn, and WorldFirst — which help other businesses with millions of different we needed it — we could to consumers, which which has a smartwatch app access the relevant customers — in real time.” increase agility in our requires a laser-like focus on for moving money around technology, are thriving. Improving the speed and business and respond to the RICHARD the quality of apps, making the world — being snapped ContactEngine (No 71) is a quality of engagement developing market KAUFFER sure they are fast, simple and up in February by China’s new entrant with sales of between co-working opportunities in front of us.” N+1 Singer attractive. gohenry (No 44), Ant Financial in a deal £6.7m in 2018, up from £1.5m operators and their tenants With tech IPOs currently a for instance, has made it reportedly worth $700m. in 2015. Mark Smith, its co- is central to essensys, a Tech rarity in the UK, and almost effortless for parents Faster digital technology — founder and chief executive, Track 100 alumnus, which sentiment still focused on Providing innovative to organise their children’s particularly improved mobile says his company “is trying develops software that private fundraising, the products and services has pocket money; using an eye- phones and cloud-based to transform the way that makes flexible office spaces essensys float is a useful been great business for catching app and a debit computing — is now opening companies communicate work smoothly. With the reminder that herd instincts technology firms, and every card, the company has seen up new customer with their customers, to help of N+1 Singer, essensys aren’t always to be followed, successful company now has annual sales rise from £1.2m engagement opportunities make the customer journey successfully floated on the and decisions should always a strategy for leveraging to £8.3m over the past three far beyond fintech. myGP, a as perfect as it can be.” Sky, AIM in May, raising £28m. be based on the company’s tech. So how can companies years. Meanwhile, Azimo’s health technology app that Virgin Media and Whirlpool Valued at £72.6m upon own priorities. The appetite differentiate themselves? (No 62) customer-friendly helps patients organise are among his clients. admission, essensys for investment in successful Increasingly, they are app for international money doctor’s appointments and ContactEngine’s underlines investor appetite young tech companies prioritising tech that makes transfers has helped drive its prescriptions, is now used by technology automates for technology firms with remains strong despite the life simpler for customers — sales to £10.8m in 2018, up 3,000 of the 7,000 GP conversations between clear market opportunities. political clouds, and as this the logic being that in a from £2.1m in 2015. practices in England. myGP’s companies and their “It’s been an awesome year’s Tech Track 100 league crowded marketplace, they For consumer fintech parent company, iPlato customers across multiple journey and we are really table shows, the experience will choose the company that firms such as these, mobile (No 77), has increased sales channels — such as SMS, pleased with the result of our and intellectual property of gives them the slickest, most apps are a hugely powerful from £1.3m in 2015 to £5.5m voice calls and chat IPO,” says founder and chief the UK’s tech entrepreneurs engaging experience. way to engage with in 2018, and by reducing platforms. It arranges home executive Mark Furness. is as compelling as ever. “Seamless” is the customers and drive sales, telephone calls to doctors’ visits from technology “essensys has consistently buzzword among switched- and there are 13 such receptionists and cutting installers and engineers attracted interest from the Richard Kauffer is head of on companies for the kind of companies on this year’s unnecessary appointments, Mark Smith of ContactEngine (No 71): learning from data doing repairs, for instance, private equity world, but technology at N+1 Singer The Sunday Times September 8, 2019 9 The Sunday Times September 8, 2019 9

90 Ticketer 53.83% Electronic ticket machine developer 90This Ticketer company’s 53.83% electronic ticketing Electronicdevices are ticket used machineby passengers developer on buses, Thistrams company’s and trains electronic across the ticketing UK. Founded devicesin 2009 are by used chief by executive passengers John on Clarfelt buses,, trams66, chief and financialtrains across officer the Gordon UK. 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Chief executivebusinesses is MarkLoveFilm Livingstone, and Graze, 52, bothwhose backgroundFast Track 100 includes alumni. subscription businesses LoveFilm and Graze, both Fast92 AdaptavistTrack 100 alumni. 52.46% IT consultancy 92Adaptavist Adaptavist helps 52.46% large businesses and ITorganisations, consultancy including Nasa, Oracle Adaptavistand BBC, tohelps automate large businesses their software and organisations,development includingprocesses. Nasa, The companyOracle andworks BBC, closely to automate with the their Australian software developmentsoftware company processes. Atlassian, The company to help worksimplement closely its with software the Australian and develop a softwarerange of company products Atlassian,to exploit toits help implementfunctionality, its software which include and develop team a Lesson in technology: millions of parents across the country use Parentpay (No 98) to pay for school fees, meals and trips. Revenues at the Coventry-based company hit £30.4m last year rangecollaboration of products and to workflow exploit its functionality,management which tools forinclude software team Lessoncompany in technology: provides flight millions searches of forparents acrossBirmingham the country — focuses use on Parentpay safety, (No 98) to95 pay JustPark for school 50.70% fees, meals and trips. Revenuesabout 75% at of the total Coventry-based revenues. Sales, company hitmanagement £30.4m last marketplace. year The collaborationdevelopers. Founded and workflow in 2005, the business and leisure travellers to more security and workforce management. Smart parking provider through its multicurrency website, hit company was founded by chief managementLondon-based tools business for software has offices in the companythan 600 provides airlines. flightRecent searches growth for came BirminghamMore than 1,000 — focuses building on safety, sites in the UK 95JustPark’s JustPark service 50.70% is used by more than about£6.9m 75% in 2019.of total revenues. Sales, managementexecutive Clive marketplace. Jackson, 59, The who also set developers.US, Canada, Founded Spain, Estonia in 2005, and the Kuala businessafter the and company leisure rebuilt travellers its platform to more to securityhave used and its workforce technology, management. including Smart3m drivers parking to gain provider access to 1.4m car through its multicurrency website, hit companyup Global was Beach, founded a digital by chief marketing firm London-basedLumpur, and isbusiness owned hasby co-founders offices in the thanoffer 600 automatic airlines. currency Recent growth and language came Morewireless than fire 1,000 safety building alarms sites and in biometric the UK JustPark’sparking spaces service across is used the by UK. more Users than pay £6.9m98 Parentpay in 2019. 49.97% executivethat featured Clive in Jackson, the first 59, Tech who Track also 100set US,Simon Canada, Haighton-Williams, Spain, Estonia and 46, KualaDan afteroptions the .company Another keyrebuilt part its of platform its success to havefingerprint used its recognition technology, systems, including which 3mvia drivers the app, to whichgain access uses predictive to 1.4m car School payment services provider upin Global 2001. Victor Beach, has a digital raised marketing $62.5m from firm LumpurHardiker, and, 38, is and owned Alain by Moran, co-founders 47. Sales offeris in automaticallowing customers currency andto pay language in wirelessare able fire to scan safety more alarms than and 5m biometric parkingtechnology spaces to acrossmatch theprices UK. with Users pay 98Millions Parentpay of parents 49.97% use this Coventry- thatinvestors featured that in include the first Sir Tech Elton Track John, 100 and Simongrew toHaighton-Williams, £26.7m last year. 46, Dan optionsinstalments. Another for flights key part directly of its successon its site, fingerprintfingerprints recognition every month. systems, Li Wang, which 41, viademand the app, and which optimise uses usepredictive of spaces. Schoolbased company’spayment services technology provider to pay inlast 2001. year Victor launched has raised a frequent $62.5m flyer from Hardiker, 38, and Alain Moran, 47. Sales isand in allowing via mobile. customers Revenues, to pay made in up of areand able Greg to Reynolds,scan more 37, than established 5m technologyOwners of toprivate match parking prices with— such as Millionsfor fees, of meals parents and use trips this at Coventry- their investorsprogram, that Victor include Alto. Sir Revenue, Elton John, which and is grew93 Alternative to £26.7m last Airlines year. 51.49% instalgrossments booking for values,flights directly hit £10m on in its 2018. site, fingerprintsBiosite in 2010 every and month. oversaw Li Wang, sales of 41, demandhotels, smalland optimise businesses use and of spaces. charities — basedchildren’s company’s schools. technology It allows them to pay to lastmade year up launched of gross bookinga frequent value, flyer hit Flight booking website and via mobile. Revenues, made up of and£9.8m Greg last Reynolds, year. 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Technology The company last December acquired for alsostrengthened make money its byexecutive letting spaceteam, adding payschools online reduce and monitor food waste. expenses, ParentPay £55.1m100 Dianomi last year. 49.21% Thisthat online are not travel bought agency in high provides enough flights 94Aiming Biosite to introduceSystems 51.33%more technology to projectan undisclosed management sum, software and currently firm has throughthe former JustPark’s global platform.chief executive Last year of it whilealso ownschildren Cypad, carry which less cash provides and Financial marketing platform tovolume smaller by and large more agencies. remote Headed destinations by Workforcethe construction management industry, software this company Construct650 live projects, Technology with last 650,000 December workers for strengthenedFitness First, its Oren executive Peleg, 52,team, as adding schoolssoftware reduce for school food waste.caterers, ParentPay and Nimbl 100Financial Dianomi services 49.21% companies, including thatchief are executive not bought Sam in Argyle, high enough 32, the Aiming— based to in introduce Solihull just more outside technology to anon undisclosed its database. sum, and currently has theexecutive former chairman.global chief Under executive founder of and also— a ownsdigital Cypad, pocket which money provides app for FinancialBarclays andmarketing BlackRock, platform use Dianomi’s volume by large agencies. Headed by the construction industry, this company 650 live projects, with 650,000 workers Fitnesschief executive First, Oren Anthony Peleg, 52,Eskinazi, as 36, softwareteenagers. for The school company caterers, is now and lookingNimbl Financialplatform services to reach companies, more than 185m including chief executive Sam Argyle, 32, the — based in Solihull just outside on its database. executivethe London chairman. company’s Under total founder transaction and —to a digitalexpand pocket in Europe, money having app for acquired Barclaysbusiness and news BlackRock, readers each use Dianomi’s month. chiefvalue executive reached Anthony£24.3m this Eskinazi, year, from 36, teenagers.Dutch rival The WIS company last year, is which now looking has platformThe firm to allows reach advertisers more than to185m define thewhich London it generated company’s £5.3m total in transaction fees. togiven expand it access in Europe, to 85% having of the acquiredsecondary businesstarget audiences news readers and place each month.ads on value reached £24.3m this year, from Dutchschool rival market WIS inlast Holland. year, which Revenues has hit Thefinancial firm allows news advertiserswebsites, including to define MSN which96 WorldRemit it generated 50.26% £5.3m in fees. given£30.4m it access in 2018, to 85% under of thechief secondary executive targetMoney, audiences Reuters andand placeCNN Business. ads on Currency transfer provider schoolClint Wilson, market 48.in Holland. Revenues hit financialFounded news by Cabell websites, de Marcellus, including 50,MSN 96After WorldRemit a career at 50.26% the UN, Somaliland- £30.4m in 2018, under chief executive Money,Raphael Reuters Queisser, and 45, CNN and Business. Rupert Currencyborn Ismail transfer Ahmed, provider 59, founded Clint99 Victor Wilson, 49.56% 48. FoundedHodson, by 47, Cabell in 2003, de Marcellus,it now has offices50, in AfterWorldRemit a career inat 2010.the UN, He Somaliland- wanted to Online private jet hire RaphaelSydney Queisser,and New York,45, and driving Rupert sales to bornreduce Ismail the Ahmed, expense 59, and founded inconvenience 99Flying Victor the 49.56% super-rich to ski resorts and Hodson,£14.6m last47, inyear. 2003, In February it now has 2018, offices it in WorldRemitof sending money in 2010. to He family wanted and to friends Onlinechartering private planes jet hirefor pop stars are Sydneyraised and£6.3m New from York, BGF driving to further sales its to reducein Africa. the Theexpense company and inconvenience has raised more Flyingamong the the super-rich services offeredto ski resorts by this and travel £14.6minternational last year. expansion. In February 2018, it ofthan sending $375m money to expand to family its online and friends money chartering planes for pop stars are raised £6.3m from BGF to further its intransfer Africa. Theservice, company which has allows raised customers more among the services offered by this travel international expansion. thanto send $375m money to expand to recipients its online in moremoney transferthan 150 service, countries which using allows a computer customers or tomobile send money device torather recipients than having in more to go to TECH TRACK 100 COMPANIES WITH THE BIGGEST SALES thana high 150 street countries counter using service. a computer Turnover, or mobile device rather than having to go to TECH TRACK 100 COMPANIES WITH THE BIGGESTFinancial SALESSales which comes from commission, grew to Rank Company Activity a high street counter service. Turnover, year end £m £91m last year. The company’s chief Financial Sales which comes from commission, grew to Rank Company Activity executive is Breon Corcoran, 48, who 75 Leisure Pass Group Tourism smartcard provide yearDec end 18 £m*277 £91mtook lastthe year.helm The last company’syear, with Ahmed chief executivestaying on is asBreon non-executive Corcoran, chairman.48, who 7574 LeisureOptal Pass Group TourismPayment smartcard services providerprovide DecDec 18 18 *277*270 took the helm last year, with Ahmed staying97 E3D on Online as non-executive 50.10% chairman. 7467 OptalMiQ PaymentDigital marketing services provider agency DecDec 18 18 *270*197 3D printer developer 6752 MiQTransferWise DigitalCurrency marketing transfer agency provider DecMar 18 19 *197*179 97Airbus E3D andOnline Nasa 50.10% are among the high- 3D printer developer profile customers of this Oxfordshire- 5246 TransferWiseDepop CurrencyFashion marketplacetransfer provider app MarDec 19 18 *179*172 Airbusbased andbusiness, Nasa are which among provides the high- profilecomponents customers such of as this printheads Oxfordshire- and 4670 DepopThe Access Group FashionBusiness marketplace software developer app DecJun 18 18 *172143 basednozzles business, for 3D printers.which provides After componentsdeveloping asuch passion as printheads for 3D printing and 7054 TheDarktrace Access Group BusinessCybersecurity software developer developer JunJun 18 19 143*108 nozzleswhile working for 3D printers. on their After graduate teaching 5496 DarktraceWorldRemit CybersecurityCurrency transfer developer provider JunDec 19 18 *108*91 developingcourse, Dave a passion Lamb, for34, 3Dand printing Sanjay while working on their graduate teaching Mortimer, 30, founded E3D Online with 9648 WorldRemitAccount TechnologiesCurrencyConsumer transfer finance provider provider DecAug 18 18 *9168 course,Josh Rowley, Dave Lamb, 29, in 2013.34, and It designsSanjay and Mortimer,builds its 30,products founded in the E3D village Online of with 4832 AccountOgury Technologies ConsumerMobile data finance marketing provider AugDec 18 18 68*62 Josh Rowley, 29, in 2013. It designs and Chalgrove before shipping them all over * Supplied by company Predictive technology developed by JustPark (No 95) matches pricing with demand for parking spaces buildsthe world, its products with exports in the accountingvillage of for 32 Ogury Mobile data marketing Dec 18 *62 Chalgrove before shipping them all over * Supplied by company Predictive technology developed by JustPark (No 95) matches pricing with demand for parking spaces the world, with exports accounting for 10 The Sunday Times September 8, 2019 TECH TRACK 100 2020 vision: discovering tomorrow’s stars today

From healthcare developers to a video-editing service backed by some of the top names in football, Joe Kempton looks at 10 firms primed for success

rediction is very difficult, the UK. It was founded in 2015 by especially if it’s about the Hamish Grierson, 34, Eliot Brooks, 28, future.” So, apparently, said and Tom Livesey, 30, and its backers the late Niels Bohr, a Nobel include Taavet Hinrikus, co-founder of laureate in physics. In the TransferWise, and Alex Chesterman, fast-moving world of founder of Zoopla. technology, picking future Another featured company — the winners based on historical cloud-based video-editing platform performance is tricky, but Grabyo — has also benefited from our annual Tech Track Ones entrepreneurial experience. It was to Watch attempts to do just that. founded in 2013 by Will Neale, 43, whose PRevolut featured on this list in 2017, previous venture, Fonix Mobile, with sales of just £2.4m, and is our top- featured on the Tech Track 100 three ranked company this year, having grown times. Grabyo’s service allows its to £58.3m in sales in 2018 and been customers to rapidly compile highlights valued at $1.7bn (then the equivalent of and push clips out to social media £1.2bn). Last year we flagged the e- channels. It boasts investment from the manage their inventories and become Gareth Capon, chief Founded in 2013 by Paul Coggins, 47, Tony Hunter, 31, it has raised £20m to commerce services firm Global-e, whose football stars Thierry Henry, Cesc more efficient. Zencargo’s sales grew to executive of Grabyo, with the and Jacques Kotze, 43, the company date, from backers including the Silicon revenues grew from £17.2m to £29.3m; it Fabregas and Robin van Persie. £4.4m in 2018, and it has raised $20m former Arsenal star Thierry operates in 70 countries and has raised Valley fund NEA. Its market research has now shot to No 3 on the main table. Targeting overseas growth early on is from investors, including Picus Capital Henry, an investor. Its service £7.4m to date from investors, including platform uses AI to help its customers Another success story from last year is a trait of several of the remaining and Pentland Ventures. allows companies to compile Passion Capital and DIP Capital. target its global network of 100m ComplyAdvantage, which helps 450 companies. The data analytics provider Adludio, conversely, looks at the video clips and push them With official figures showing record consumers in 80 countries. regulated companies in 45 countries Quantexa was founded in 2016 but digital world. It delivers interactive out to social media sums being invested by overseas backers This year’s Ones to Watch all have address compliance issues. It joins the already has offices across Europe, North mobile ads that encourage consumers to in UK start-ups, our final company, the potential to grow quickly, and we table at No 16, having grown by 192% America, Asia and Australia. Led by chief interact with them, for example by Attest, has secured its fair share. hope we can prove Niels Bohr wrong from £2.1m in 2018 to £6m in 2019, executive Vishal Marria, 36, the firm tilting, shaking or swiping their phone. Founded in 2015 by Jeremy King, 38, and with our predictions. following a $30m funding round in provides anti-fraud and decision January. intelligence software for customers In total, seven of last year’s Ones to including HSBC. Watch now appear on our main table. Similarly, the Newcastle-based online Expectations are high, then, for this product sampling firm SoPost has a ONES TO WATCH: 10 RISING TECH COMPANIES significant overseas presence, with offices in Europe and North America. It was founded in 2012 by Jonathan Financial * Latest * Forecast Grubin, 28, who dropped out of Company Activity Location year end sales, £000 sales, £000 Staff Founded university to focus on running his own business. SoPost’s online product 10x Future Technologies Banking technology provider Central London Dec 18 18,608 50,000+ 150 2016 Revolut was a One sampling service is now used by brands Uses its platform to replace outdated banking IT systems and has raised £66m to date, including £15m from Nationwide. It forecasts sales of over £50m in 2019 including L’Oréal and Mondelez. Adludio Mobile advertising technology Central London Dec 18 4,888 8,688 41 2013 10x Future Technologies, on the other Develops interactive mobile advertising campaigns using innovative sensory technology to engage consumers in 70 countries. It expects sales to grow 78% to £8.7m this year to Watch in 2017. hand, was set up by a veteran of the banking industry, Antony Jenkins, 58, a Attest Consumer survey platform Central London Nov 18 1,612 8,200 23 2015 This year it comes former chief executive of Barclays. The Its market research platform uses AI to allow customers, such as Deliveroo, Samsung and Heineken, to target its global pool of 100m consumers across 80 countries company’s technology is designed to top of the Tech replace a bank’s outdated and unwieldy Grabyo Video-editing platform developer Central London Dec 18 4,502 6,715 45 2013 IT systems, making them more efficient Thierry Henry and Cesc Fabregas have invested in this video editing platform, founded by serial entrepreneur Will Neale; customers already include ITV, Sky and BT Sport Track 100 table and reducing costs. It is already working Medopad Medical AI developer Central London Dec 18 †120 10,500 95 2011 with Nationwide — which is also an Aims to help 1bn people live longer through its modular health monitoring software. Has strategic partnerships with Apple, Tencent and Bayer, and has raised $30m from investors investor — and is predicting sales will year’s cohort of up-and-coming stars. exceed £50m this year. Pure Planet Digital-only energy supplier Bath Mar 19 85,083 175,000 60 2016 Two medtech —medical technology — Another One to Watch with big- About 100,000 customers use this green energy supplier, which forecasts £175m in sales in 2020. Has investment from BP, which buys energy for it in the wholesale market firms make the list. Medopad, which company backing is Pure Planet. Two of develops health monitoring software, its founders — Andrew Ralston, 56, and Quantexa Data analytics provider Central London Mar 19 10,238 32,600 142 2016 has already gained the attention of Steven Day, 52 — founded Virgin Mobile; Provides anti-financial crime and decision intelligence software for customers, including banks such as HSBC. Has raised $23.3m and forecasts sales of £32.6m in 2020 Apple, Tencent and Bayer, with which it the third, Chris Alliott, 46, also has a has strategic partnerships. Co-founded telecoms industry pedigree. The green SoPost Online product sampling Newcastle Sep 18 3,445 6,000 19 2012 in 2011 by Dan Vahdat, 35, and Rich energy supplier, which is digital-only, Brands such as Estée Lauder, L’Oréal and Mondelez use this Newcastle-based company’s online product sampling service and analytics. It is targeting revenues of £6m in 2019 Khatib, 54, the company aims to help sold a 24% stake to BP in 2016, the year it Thriva Healthcheck technology developer Central London Oct 18 2,200 6,000 31 2015 1bn people live longer, and is trialling was founded. Its home blood tests have been used by more than 100,000 people, and its backers include Taavet Hinrikus, co-founder of TransferWise. It forecasts sales will triple to £6m in 2019 algorithms that could predict Zencargo operates on a similarly complications in diseases such as innovative model. Founded in 2017 by Zencargo Logistics platform provider Central London Dec 18 4,362 13,049 20 2017 Parkinson’s and cancer. Our second Alex Hersham, 33, Richard Fattal, 33, Uses machine learning to automate freight forwarding. It raised $20m in April from backers including Picus Capital, to expand across the US and China firm, Thriva, is a home-based blood- and Jan Riethmayer, 41, it uses machine testing business, whose kits have been learning to modernise the way * Sales and forecast sales have been provided by the companies †Annualised used by more than 100,000 people in companies select freight forwarders,