The technology industry continues to go from strength to strength in Australia, with customer-centric solutions dominating the Deloitte Tech Fast 50 in 2017.
Selected from almost 200 tech start-up leaders from across the country, Hireup took home the top prize with record 7,713 per cent growth, followed by zipMoney (2 - 4,012 per cent) and Zero Latency (3 - 3,611 per cent) in second and third place respectively.
Hailing from New South Wales (NSW), Hireup is an online platform that lets people with a disability find, hire and manage their own home care and support workers - harnessing technology to bring the peer-to-peer economy to the Australian disability sector.
“In a departure from previous years, this year’s winner is not only in the healthcare sector, but is a profit–for-purpose led business,” Deloitte Tech Fast 50 lead partner Josh Tanchel said.
“Hireup is an online platform offering a new way for people with disability to find, hire and manage support workers. They’ve recognised an opportunity in the introduction of individualised funding through the National Disability Scheme (NDIS) and have harnessed technology to bring the peer-to-peer economy to the disability sector.”
Meanwhile, zipMoney simplifies the consumer’s financial journey by providing simple, user-friendly and financially responsible products, designed to facilitate both informed purchases and long-term personal finance planning.
Based in NSW, the start-up’s main products include zipPay (a digital wallet enabling ‘buy now, pay later’ both online and in-store) and Pocketbook (a mobile app that categorises spending).
Hailing from Victoria, Zero Latency is a global leader in multiplayer FRVR, in which untethered players freely explore a large physical space while immersed in a virtual reality gaming (or other) experience.
According to Deloitte, Zero Latency is currently the only company offering a fully-productised and commercially proven FRVR entertainment platform, currently operating in 11 locations on four continents, with 10 additional sites under development.
Rounding off the top 10 were Big Review TV (4 - 2,052 per cent); Instaclustr (5 - 1,257 per cent) and PEXA (6 - 1,233 per cent), followed by Sparesbox (7 - 1,223 per cent); Megaport (8 - 822 per cent); Brosa (9 - 807 per cent) and Metamako (10 - 801 per cent).
Now in its 17th year in Australia, the Deloitte Tech Fast 50 recognises and profiles fast growing technology companies, ranking public or private technology businesses based on percentage revenue growth over three years (2015 to 2017).
Since launching almost two decades ago, this year’s top 50 have the highest average growth rate on record, coming in at 664 per cent.
In addition, more than double the number of nominees (seven) had over 1,000 per cent growth compared to last year (three).
“This is the first time that we have seen a purpose-led organisation win the Tech Fast 50, but it perhaps shouldn’t be a surprise,” Tanchel added. “A strong customer focus is fundamental to growth and principled leaders who want to make an impact that matters can fuel innovation and growth from the top down.”
As explained in front of a jam-packed crowd in Sydney, disruption is coming to other industries in the form of customer-centric technology based solutions.
“Healthcare, aged care and education are amongst the emerging sectors in the technology start-up ecosystem,” Deloitte Australia leader of technology, media and telecommunications Kimberly Chang added.
“The companies who are identifying innovative solutions and reducing friction in the customer journey are the ones disrupting these markets and experiencing accelerated growth.”
Deloitte Tech Fast 50 2017
Working down through the list, Cashrewards (11 - 490 per cent); GetCapital (12 - 480 per cent); Catapult (13 - 440 per cent) and Araza (14 - 439 per cent) also featured, alongside Prospa (15 - 438 per cent); LegalVision (16 - 389 per cent); MyDeal.com.au (17 - 375 per cent); BrandLink (18 - 369 per cent); Adactin (19 - 333 per cent) and SocialGarden (20 - 324 per cent).
Furthermore, EML Payments (317 per cent) ranked 21st, followed by Solista (22 - 314 per cent); HealthEngine (23 - 305 per cent); MoneyMe (24 - 298 per cent) and Deputy (25 - 277 per cent); as well as placings for OpenAgent (26 - 247 per cent); Online Marketing Gurus (27 - 225 per cent); Zimbani (28 - 223 per cent); CorrectComms (29 - 216 per cent) and TechMpire (30 - 212 per cent).
In terms of the number of listed companies, Tanchel said tech sector listings have doubled in the last three years, now comprising over 200 companies, ranging from software-as-a-service (SaaS) to Fintech to online marketplaces, and including global names such as Wisetech and Xero.
“When it comes to maturing of the sector we have seen that 22 per cent of companies are between $10 million and $20 million,” Tanchel explained.
“In addition, 10 per cent of companies are between $20 million and $40 million and 14 per cent of companies are greater than $50 million. The numbers speak for themselves: in the right environment, growth is rising exponentially.”
Returning to the list, Zetaris (208 per cent) placed at 31, followed by Adore Beauty (32 - 197 per cent); Touchpoint Technology (33 - 196 per cent); HRL Holdings (34 - 192 per cent) and Oneflare (35 - 178 per cent).
Maintaining the strong growth trajectory were Avoka (36 - 176 per cent); Supple Solutions (37 - 176 per cent); Digivizer (38 - 161 per cent); Nextgen Distribution (39 - 137 per cent) and Onel (40 - 135 per cent).
Rounding off the list, BizCover (131 per cent) placed 41st, followed by MNF Group (42 - 124 per cent); Insync Technology (43 - 121 per cent); Bench (44 - 119 per cent); Appen (45 - 118 per cent); Transpire (46 - 118 per cent); HUB24 (47 - 116 per cent); CloudPlus (48 - 115 per cent); OvertheWire (49 - 112 per cent) and Burst SMS (50 - 106 per cent).