More than half of Britain’s 100 fastest growing technology companies can be found in London, according to The Sunday Times Hiscox Tech Track 100 table.
The index, which ranks Britain’s private technology, media and telecoms (TMT) companies with the fastest-growing sales over three years, featured a total of 52 London-based companies.
The London firms ranked in the table employ a combined total of 6,734 people and have achieved combined sales of £1.5 billion.
London-based digital marketing services provider MVF claimed the top spot. The Kentish Town company took the title with a 278 percent rise in sales that saw it cash in £13.8 million in the last year alone.
Other London firms to feature include online money lender Wonga, property websites operator Zoopla and music identifier Shazam.
The vast majority of London’s tech start-ups can be found concentrated around 'Silicon Roundabout' in Shoreditch but several other areas are starting to see their own tech clusters develop as high rents force companies to look elsewhere. For example, Borough and Bermondsey in south east London became home to 5,190 start-ups last year according to accountancy group UHY Hacker Young this July.
The majority of the remaining companies were found in the southeast, which was home to 17 firms ranked in the table. Of the remainder, 10 are in the northwest, five are in the east, four companies each in the southwest, northwest and Scotland, three in the Midlands and one in Northern Ireland.
Last year London had 50 companies featured in the Tech Track 100 index.
Steve Langan, managing director of Hiscox UK and Ireland, said: "The passion, determination and resilience that this year’s Tech Track 100 businesses have demonstrated is no mean feat given the economic context and continued challenging trading conditions.
"We are pleased to be able to celebrate some of the brave and the bold tech companies that exist up and down the country, and hope that their success now inspires others too."
The Tech Track 100 league table is sponsored by Hiscox and Barclays, and compiled by Fast Track, the Oxford-based research and networking events company.
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