Cambridge quartet in UK’s fastest sales gazelles
Cambridge technology quartet Featurespace, Azuri Technologies, Darktrace and Endomag have all made the Sunday Times Hiscox Tech Track 100 league table to be published this weekend.
The initiative ranks the UK’s private technology, media and telecoms (TMT) companies with the fastest-growing sales over the last three years. Suffolk business Fleximize also makes the rankings. It is a business finance provider.
The five companies headquartered in the East of England have grown their sales by an average of 90 per cent a year over three years to a total of £141 million and together they now employ 1,300 people.
Unicorn company Darktrace appears for a third consecutive year. It has raised more than $230m from investors including KKR and Vitruvian Partners and is valued at $1.65bn.
With joint headquarters in Cambridge and San Francisco, and a further 39 offices globally, sales reached £107.7m this year.
Three companies feature for the first time. Among them is medical device business Endomag, which is based in Cambridge. It has developed a minimally-invasive way for physicians to locate breast cancer tumours and remove them in one piece.
Sales hit £6.3m in 2018, and, with regulatory approval in the US and Europe, the company is increasing its presence in NHS hospitals this year.
Featurespace, an analytics software developer which helps banks detect and repel fraudulent transactions, is highest ranked in 25th position with annual sales growth over three years of 111 per cent.
Azuri Technologies is 42nd; it is a pioneering solar technology developer with annual sales growth of 90 per cent over the last three years.
Cyber security ace Darktrace is in 54th with 85 per cent sales growth over the period under review and Endomag 63rd with 72 per cent sales growth.