Electricity Exchange tops 2019 Deloitte Fast 50

New entrant Electricity Exchange from Limerick has won the top spot in the 2019 Deloitte Technology Fast 50 Awards

The company is a leading provider of demand response technologies and services, deploying technologies to deliver additional revenue directly to commercial and industrial electricity consumers’ bottom line. The company, a new entrant to the ranking this year, achieved a growth rate of 1,442pc over the last four years.

Belfast-based company Catagen Ltd, also a new entrant to the ranking, achieved second spot with a growth rate of 1,162pc. The company is an after-treatment automotive emissions specialist, delivering advanced solutions that will have direct impact on cities and air quality.

“Over the last 20 years, the Fast 50 has become the benchmark of success for Irish tech companies”

The third spot was taken by yet another new entrant to the ranking – Code Institute. The company is dedicated to bridging the tech skills gap, and the productivity gap between developers and non-technical professionals. Based in Dublin, it provides diplomas to produce career-ready software developers and to train people to work efficiently with developers. It achieved a growth rate of 1084pc.

Cumulatively, the 2019 Fast 50 winners generated approximately €3.6bn in total annual revenues in 2018. The average revenue of companies featured in the ranking was approximately €70 million, while the average growth rate of the companies over the last four years was 347pc. Compared with last year, there are 18 new companies on the ranking.

They rose from the regions

All four provinces are featured in this year’s awards. 28 of the winners are Leinster-based, 13 are based in Ulster, followed by Munster with 8 companies, and Connacht with two companies. Overall, 14 counties are represented in the 2019 listing.

“Since 2000, the awards have showcased an innovative and diverse range of Irish technology companies, and this year is certainly no different,” said David Shanahan, Partner, Deloitte.

“Over this time, we have seen Irish technology companies capitalise on the opportunities that came from technology deregulation, the emergence of an international financial services sector here, and the growth of e-learning and virtualisation technologies, to name a few. This year, it is fantastic to see so many new entrants perform so strongly in the ranking, and it is encouraging to see these companies use technology innovation to address really important issues, from energy solutions to supporting the development of tech talent.

“We’re delighted to be supporting these companies and recognising them with these awards. Over the last 20 years, the Fast 50 has become the benchmark of success for Irish tech companies.”

Once again, this year’s awards programme included a number of award categories in addition to the overall ranking. These included the cyber security award, which illustrated the breadth of innovation in cyber security in Ireland. Titan IC was this year’s winner of this award.

The awards also included the fintech award category, sponsored by Silicon Valley Bank. TransferMate Global Payments was this year’s fintech award winner.

“It has been an exceptional year for technology innovation within Ireland,” Clive Lennox, Silicon Valley Bank Vice President for Ireland said.

“As a bank that is dedicated to the innovation economy, we see first-hand the positive impact the Deloitte Technology Fast 50 companies contribute to the Irish economy and the potential they still have to offer. At Silicon Valley Bank, we’re incredibly proud to work with the most innovative businesses across Ireland, who are actively changing the world around us for the better.”

Emphasising the importance of the relationship between multinationals and indigenous companies, the MNC patron awards recognised the following companies:

Innovative New Technology Award in association with Google – Titan IC

Export Award in association with Intel – SilverCloud Health

Impact Award in association with PayPal – TEKenable

Women in Technology Advocate Award in association with Vodafone –  Catherine Harrison, First Derivatives

Disruptive Technology Award in association with Facebook – Electricity Exchange

 

The full list of winners were ranked as follows:

 

2019 Deloitte Fast 50:

Ranking Company Name County
1 Electricity Exchange Limerick
2 Catagen Antrim
3 Code Institute Dublin
4 LogoGrab Dublin
5 &Open Gifts Limited Dublin
6 eleven Dublin
7 mAdme Dublin
8 xSellco Dublin
9 Glofox Dublin
10 Xtremepush Dublin
11 OxyMem Westmeath
12 Repstor Antrim
13 Zartis Cork
14 Homesecure Dublin
15 Welltel Dublin
16 LearnUpon Dublin
17 Wolfgang Digital Dublin
18 i3PT Certification Dublin
19 SilverCloud Health Dublin
20 Global Shares Cork
21 Sixteen South Antrim
22 Spearline Cork
23 Asystec Limerick
24 Trilogy Technologies Dublin
25 IRP Commerce Antrim
26 TransferMate Global Payments Kilkenny
27 Travelwin Dublin
28 Titan IC Antrim
29 Made to Engage Antrim
30 Datactics Antrim
31 Paradyn Cork
32 Aspira Cork
33 Arkphire Dublin
34 Phorest Dublin
35 Anam Technologies Dublin
36 Granite Digital Cork
37 Learning Pool Derry
38 Intact Louth
39 Decision Time Antrim
40 AquaQ Analytics Antrim
41 Data Solutions Dublin
42 SL Controls Sligo
43 Intellicom Offaly
44 eCOMM Merchant Solutions Meath
45 TEKenable Dublin
46 Cora Systems Leitrim
47 Lucid Interactive Derry
48 Novi Kildare
49= ChannelSight Dublin
49= Flint Studios Antrim
50 First Derivatives Down

 

* 51 companies are listed in the 2019 ranking, as ChannelSight and Flint Studios achieved the same growth rate and are jointly ranked at position 49.

Pictured above (left to right): Duncan O’Toole, Electricity Exchange; Deloitte partner Karen Frawley; and Paddy Finn, Electricity Exchange. Image: Jason Clarke Photography

Written by John Kennedy (john.kennedy3@boi.com)

Published: 29 October, 2019