E-commerce company xSellco tops Deloitte Fast 50 list
5 November 2018 | 0
E-commerce software company xSellco has secured the top spot on this year’s Deloitte Technology Fast 50 ranking. The company, which achieved second place last year, placed one better in 2018 with a growth rate of 2,874% over the last four years.
Having topped the ranking for the previous three years, eShopWorld fell to second place. Third place went to mobile advertising software developer mAdme Technologies.
This year’s Fast 50 winners generated approximately €2.5 billion in total annual revenues in 2017. The average revenue of companies featured in the ranking was €50 million, while the average growth rate of the companies over the last four years was 373%. Compared with last year, there were 17 new companies on the ranking – 12 were first-time entrants, while five were re-enteries.
Some 27 the winners were Leinster-based, 14 are based in Ulster, followed by Munster with eight companies, and Connacht with one company. Overall, 12 counties are represented in the 2018 listing.
Announcing the winners, David Shanahan, partner, Deloitte, said: “We know that these companies are operating in an uncertain international marketplace. And yet they are prospering against this backdrop – in fact, it was particularly evident this year that the vast majority of revenues for the ranking companies are coming from export markets. This demonstrates the impact Irish indigenous tech companies are having in global markets.”
This year also saw the introduction of a cyber security award which was won by SensiPass, which provides strong multifactor authentication solutions and serves companies in markets driven by regulatory drivers to improve security and compliance, such as financial institutions, healthcare, and critical infrastructure.
For the second year running, Deloitte and Silicon Valley Bank partnered in the fintech award category. This category reflects the importance of financial services to Ireland’s future economic growth and how companies within the fintech sector are influencing this space with their technology and innovation.
The winner of the award this year was Fenergo, the leading supplier of client lifecycle management, AML/KYC compliance and client data management solutions for investment, corporate, commercial and private banks. As the winner of this category, Fenergo will be brought to Silicon Valley, USA, on a trip tailored to suit their growth trajectory where they will meet with key investors, strategic partners and prospects.