Meet some of Australia's fastest growing tech companies
- 24 March, 2020 11:30
LiveTiles, Cevo, Roller Software, VostroNet, Aussie Broadband, Springcom, Versent, Araza, Idea 11 and mining software company, Fewzion are some of the tech companies that made the top 50 in The Australian Financial Review’s (AFR) Fast 100 companies list.
There were also a few tech companies that graced the Fast Starters list, including Mantel Group in fifth; MTP Services (7th); Emanate Technology (15); LAB3 (16); CSW-IT (52) and Techforce Services (60).
In the Fast 100, publicly-listed LiveTiles was ranked fifth, achieving 110 per cent growth. IT consultancy, Cevo made it into the top 20, coming in at 19 with 86 per cent growth.
All-in-one cloud software provider for the events and entertainment industry Roller Software achieved the 22nd spot, followed by internet service provider VostroNet at 24; Aussie Broadband (27) and SpringCom (32).
AWS partner, Versent made it into the top 50, coming in at 35, followed by mining software company Fewzion (40); multiple ARN award winner, Araza (42); and Queensland-based AWS consulting partner Idea 11 (44).
Melbourne-based managed services provider, KMT Group was ranked 51; Over the Wire (53); Elmo Software (58); Venn IT Solutions (74); Elabor8 (89); Green Light Worldwide (96); The Missing Link (99) and IT recruitment specialist, The Network rounded out the list at 100.
The lists are compiled in conjunction with research outfit Statista.
According to the AFR, eligibility for the Fast 100 is based on a business that has started trading on or before July 2015, generating at least $500,000 in turnover during 2015-2016 financial year, and must show four full years of revenue data. They are then ranked according to compound annual growth rate achieved during that time frame.
For a Fast Starter, it comes down to the age of the business, having started to trade after July 2015 and achieving more than $500,000 turnover during 2018-2019 financial year; supplying at least two year’s worth of full revenue data.
They are then ranked on revenue during 2018-2019, not according to growth rate.