Deloitte Tech Fast 50 winners pair agility with discipline amid global and economic uncertainty

20 November 2025: The winner of Deloitte’s 2025 Tech Fast 50 has defied global uncertainty and a sluggish economy to notch up one of the fastest growth rates in the program’s decades-long history.

Melbourne-based healthtech pioneer Heidi Health, which pairs clinicians with an artificial intelligence (AI) care partner to automate administrative work and free up time to focus on patient care, achieved an astonishing 15,323% three-year growth rate.

Listed music technology company Vinyl Group (2374%) took second place through its work building a creator-first ecosystem to empower musicians. Rounding out the top three was AI infrastructure company Firmus Technologies (2249%).

Now in its 25th year, the awards recognise and profile Australian tech companies – public or private – that have achieved the highest rates of annual revenue growth over the past three years.

Many Tech Fast 50 alumni have scaled up to become local and global powerhouses, with Afterpay, Atlassian, Zip, EVSE, NEXTDC, Vocus, ModiBodi, RSVP, and Seek all featuring on the long list of past participants.

The program, sponsored by ASX, Atlassian, Baker McKenzie, AWS and SAP, not only celebrates the success of Australia’s fastest growing tech companies but also connects enterprise owners with potential investors, helping put businesses on the map here and overseas.

The 2025 winners have proven their resilience amid global challenges. Hopes for a swift economic recovery have faded as raising capital remains tough, valuations face greater scrutiny, and early profitability is vital.

In this climate, growth depends on cash flow and strategic investment, not just revenue expansion. Top performers moved early on AI or other high-growth opportunities, or maintained robust balance sheets. The best combined discipline with agility, offering a clear blueprint for success.

Deloitte Technology Fast 50 Leader Josh Tanchel said: “Many companies featured on the list have thrived by creating technology-based services that solve everyday problems, despite global economic shifts that have reshaped the business landscape.

“Others have cleaned house and proven their business models are sustainable with healthy organic cash flows, which is a positive shift that encourages long-term success.

“New South Wales still accounts for 43% of the list, but this is down from 56% in 2024. Victoria is showing an exciting level of expansion and is emerging as an Australian tech powerhouse, now accounting for 30% of the list (up from 18%). Meanwhile, the top 50 entry point was 143% (up from 123%), showing slightly better growth conditions year-on-year yet still a way off 264% in 2023.

“Software-led businesses once again featured strongly, while healthtech and fintech continue to ascend. This shows that Aussie tech innovation is making waves globally and solving genuine problems.”

Deloitte Technology Sector Leader Bec McConnochie said: “The Tech Fast 50 awards celebrate the ingenuity, resilience, and growth potential of Australia’s tech sector. Amid a range of headwinds and pressures, these pioneering companies are not just adapting, they are thriving.

“This year, we spotlight tech innovators who are redefining benchmarks and showcasing the strength of Aussie innovation. Their achievements prove that with strategic investment and the right approach to overcoming growth challenges, Australian tech continues to scale globally, driving both national impact and prosperity.”

Winners for 2025 (see criteria)

Tech Fast 50

1. Heidi Health – 15,323%
2. Vinyl Group - 2374%
3. Firmus Technologies - 2249%

Rising Star (under three years trading)

• Software@Scale – 17,160%

Leadership & Enterprise Growth

• Zip – 52%

Female Leadership

• Winner – Rajini Carpenter (Beforepay Group CTO)

Climate & Sustainability

• Firmus Technologies - 2249%

State Champions

• VIC: Heidi Health – 15,323%
• TAS: Firmus Technologies - 2249%
• QLD: Wingman Group - 1668%
• WA: PARKD - 929%
• NSW: Bridgit - 602%
• SA: Foil Drive - 437%