1 December 2023. Swoop is the fastest growing technology company in this year’s Deloitte Technology Fast 50 Awards, having risen to first place after placing fourth in last year’s ranking. Swoop is a global platform supporting businesses by bringing their data into one place to garner insights and be instantly matched to eligible finance, as well as assess their spend on cost categories such as energy, banking and FX.
The Deloitte Technology Fast 50 Awards is one of Ireland’s foremost technology award programmes. It is a ranking of the country's 50 fastest-growing technology companies based on revenue growth over a four-year period, and this year marks 24 years of the programme celebrating innovation and entrepreneurship in Ireland’s indigenous technology sector.
Reacting to the win, Andrea Reynolds, founder and CEO, Swoop said:
Cumulatively, the 2023 Fast 50 winners generated over €3 billion in total annual revenues. The average growth rate of the companies compared to four years ago was 721% and 15 of the 50 ranked companies were first time winners.
The majority of Fast 50 companies have doubled their workforce since 2019, and now employ over 8,800 people across the country. The companies ranked identified finding, hiring and retaining top talent and international expansion as two of the biggest challenges they face trying to grow their company.
Announcing the winners of the Deloitte Technology Fast 50 programme, James Toomey, partner and Fast 50 lead, Deloitte said:
Toomey added,
In addition to announcing the ranking of the Fast 50 companies, the Deloitte Technology Fast 50 awards included several award categories. The ‘Rising Star’ award in association with Enterprise Ireland was a new addition, won by Green Rebel, an Irish data company providing site investigation services to the offshore wind sector. It specialises in a full suite of data services from acquisition through processing, interpretation, reporting and delivery across three key divisions: Geophysical, Aerial Ecology and MetOcean.
The winners of the awards this year were:
Winner: Brightflag
This award recognises a company that has created or introduced a new or innovative product or service to international markets, which helped grow their business over the last four years.
Winner: XOCEAN
This award recognises a company that has made a significant impact within the current year.
Winner: Siren
This award recognises a company that has demonstrated an impressive ability to scale up/expand overseas over the last four years.
Winner: Laura Haldane, Co-Founder and VP of Sales and Marketing, SciLeads
This award recognises an individual who has demonstrated through their actions that they are an advocate for increasing participation by the promotion of women in the technology sector.
Winner: Green Rebel
This award is given to a company who demonstrates a promising growth trajectory and the potential for inclusion in the Fast 50 rankings in years to come. Companies being considered for this award have operating revenues accounting for a minimum of two years and less than four years.
Winner: ID-Pal
This award recognises a company with an innovative product or services that is having a disruptive impact within the financial services industry.
Winner: Fenergo
This honorary award recognises a company that has played a major part in the Fast 50 Programme to date.
The Deloitte Technology Fast 50 ranking features both private and public listed technology companies that have demonstrated innovative strategies, sound management practices and marketplace vision, driving them to achieve the status of high-growth leaders. Full details on the winners can be found at www.fast50.ie.
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Notes to editors
The Deloitte Technology Fast 50 Ranking 2023
1. Swoop
2. Moffett Automated Storage
3. Syndeo
4. Mail Metrics
5. Buymedia
6. ICS Medical Devices
7. Tines
8. XOCEAN
9. Siren
10. SciLeads
11. Alchemy Global Solutions
12. Circit
13. Fibrus
14. Ekco
15. CWSI
16. ID-Pal
17. Core Optimisation
18. CR Payroll Solutions
19. Reitigh Software
20. DigitalWell
21. Locate a Locum
22. Lifting365
23. EdgeTier
24. Lightyear
25. Brightflag
26. MediHive
27. PlotBox
28. Eppione
29. Keelvar
30. SynergySuite
31. TestReach
32. Nutritics
33. Cora Systems
34. TEKenable
35. Catagen
36. MyComplianceOffice
37. Axonista
38. OneTouch Health
39. Zenotec
40. LearnUpon
41. MetaCompliance
42. Playrix
43. Zartis
44. T-Pro
45. Xtremepush
46. Smarttech247
47. Totalmobile
48. Nostra
49. DreamTec Systems
50. Kneat
About the Deloitte Technology Fast 50 Programme
To enter the Fast 50 Awards, companies must meet the criteria listed below. Entries must be submitted electronically via the application link at www.fast50.ie, with the necessary supporting documents.
Fast 50 awards criteria:
1. The company must have accounts covering a minimum of four years (i.e. four full twelve-month financial periods).
2. The company must be considered a technology company which, for this purpose, is defined as a company that meets at least one of the following four criteria:
NB: Companies using third party technology or intellectual property in a unique way do not meet this definition. Consulting companies, professional services firms, resellers and others who don't rely on proprietary technologies to generate their revenue are not eligible.
3. The parent company must be Irish-owned and have its headquarters in Ireland.
NB: Companies headquartered in Northern Ireland can take part in the Irish OR the UK programme, but need to choose one or the other and cannot enter both.
4. The company must not be a subsidiary of a larger group.
NB: If there is more than one trading company in a group of companies, the nomination should reflect consolidated revenue for year 1 and 4 and not the revenue of a particular company within the group.
5. The company must have base-year (year 1) operating revenues of €50,000 (£43,000) or more and a current year (year 4) operating revenue of at least €1,000,000 (£859,900). Operating revenue figures must be calculated on a consistent basis. Please disclose in your application any change in revenue recognition between the year 1 and year 4 accounts.
NB: the accounts for the base-year must have an accounting period ending between 1 June 2019 and 31 May 2020; and the accounts for the most recent financial year must have an accounting period ending between 1 June 2022 and 31 May 2023.
6. All submissions must be accompanied by signed accounts for the first and last financial year being measured in the competition. Where accounts are not audited, a cover letter must be provided. This cover letter should be on company headed paper, signed by a director of the company, stating and confirming the revenue figure per the accounts. Where only abbreviated accounts are available (with no profit and loss statement shown), please provide alternative financial information supporting the revenue figure presented, for example, management accounts used by the company, along with the cover letter described above.
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