The technology industry continues to go from strength to strength in New Zealand, with a host of cloud specialists, solutions providers and software developers dominating the Deloitte Fast 50.
Representing 36 per cent of the 50 fastest growing companies across the country, 18 emerging and established technology firms made the list, following a stellar 12 months of growth.
The annual Deloitte Fast 50 index ranks businesses experiencing rapid revenue growth over three years and sets the benchmark for high growth businesses in New Zealand.
Leading the way from a technology perspective was Pushpay (4 - 914 per cent), which provides engagement solutions to mobile commerce tools to facilitate fast, secure and easy non point of sale payments.
Staying in Auckland, wearable applications specialists StretchSense ranked 7th, following revenue growth of 554 per cent.
Of particular note to the local channel, API Talent followed up in 12th place with growth of 408 per cent, as the born-in-the-cloud consulting partner continues to expand through Amazon Web Services (AWS).
Next in line was private network services firm Tenco EBS (14 - 381 per cent), followed by software experts Timely (15 - 379 per cent), cloud enterprise solutions provider Inde (16 - 377 per cent) and cloud video production specialists 90 Seconds (17 - 357 per cent).
Digital masters Roam Creative (18 - 354 per cent) and Shuttlerock (19 - 349 per cent) continued the tech trend, followed by FaceMe (21 - 317 per cent), a global AI company supporting some of the world’s largest enterprises.
Cloud capabilities were again recognised through Spotlight Reporting (24 - 300 per cent), backed up by web and mobile application builders Rabid Technologies (25 - 300 per cent) and video platform designers Teknique (29 - 234 per cent).
Flying the flag for the telecommunications industry was Ultrafast Fibre (31 - 227 per cent), alongside security specialists RedShield Security (35 - 219 per cent) and software developer, Virsae (39 - 212 per cent).
Rounding off the list was open source experts The Last Pickle (40 - 212 per cent) and intelligent messaging company Modica Group (48 - 184 per cent).
“The Deloitte Fast 50 is an active community of intrepid business trailblazers looking to achieve great things for their companies,” Deloitte Private Partner Bill Hale said.
“It does more than just rank New Zealand’s fifty fastest growing businesses. It celebrates business success and growth across the spectrum – from early stage companies to mature businesses – on a regional and national stage.”
Despite a strong showing from the technology industry, Waikato and Bay of Plenty-based residential home builders ZB Homes took home the number one ranking, with 1583 per cent revenue growth over the past three years.
This is the first time in the history of the index that a construction business has taken the top slot.
“The high level of diversity shows any type of business, from anyplace in New Zealand, can do well with the right approach,” Hale added.
“It is great to see these companies thriving by capitalising on their points of difference and executing on their plans. A common theme is that they are all strong across strategy, capability and commitment, but focus on finding a point of difference and nailing it in that niche.”
Meanwhile, the 2017 national Rising Star Award winner, which recognises early stage companies who don’t yet qualify for the index, was content measurement company Parrot Analytics, with runners-up including Eat My Lunch, Organic Initiative and Avertana.
Xero - which recently announced plans to delist from the NZX - took out number one ranking on this year’s inaugural Master of Growth index with 657 per cent revenue growth over the past five years, followed by global distributor of consumer electronic products Protempo (608 per cent) and self-service payment technology company Invenco Group (386 per cent).
Introduced this year, the Master of Growth index ranks the 20 fastest growing established businesses achieving longer term sustained growth - it ranks businesses starting from a larger revenue base, and over five years of revenue growth.
Also on this list, distributor Arrow ECS New Zealand placed 10th, following revenue growth of 216 per cent.