The fifty fastest growing tech start-ups in the UK have been acknowledged this week through a Deloitte competition. 

The Deloitte Technology Fast 50 competition selects start-ups based on their revenue growth over the last five years.

This year’s winner, Infectious Media, is a digital advertising platform based in Clerkenwell and since 2008, its revenue growth averaged 9,774 per cent.

The company’s headcount has gone from eight people in 2010, to over 50 today, which includes analysts, data scientists, engineers, digital media professionals and sales representatives. It has also opened offices in Paris and Hamburg, where it has a growing client base that it services from its London headquarters.

Martin Kelly, CEO and co-founder of Infectious Media, said: “With the financial crisis in full swing, we were forced to bootstrap the business. It didn’t feel great at the time, but in retrospect it was a good thing. We had no choice but to be profitable from day one, and it also made us very disciplined with costs.”

Previous competition winners have included businesses focusing on biotech, digital media, life sciences, software and telecoms.

Deloitte said the companies selected this year generated £672 million of combined revenue in 2012/13.

Twenty (40 percent) of the firms on the list this year are based in London and were responsible for generating 47 per cent of the combined revenues in 2012/13.

London generated the majority of revenue by ‘softer’ technology companies, with 64 per cent of revenues from Internet, software, media and entertainment winners based in the capital.

Meanwhile, 'harder' technologies were more strongly associated with regions outside of London. A fifth of combined winner revenues (£126 million) were generated by telecommunications companies, mostly based in the South East.

According to Deloitte, the greatest financial challenge for companies in 2013 was ‘financing investment in growth or Research & Development (R&D)’, with a fifth of Fast 50 companies citing this as their biggest hurdle. 

Three years ago ‘managing or forecasting cash flows’ was the number one financial challenge, but, in 2013, only one in 10 companies reported the same concern.

David Halstead, Deloitte partner leading the UK Fast 50, said:”Britain’s technology companies have faced a challenging five years, even though the winners have grown significantly faster than the economy over the past five years, but they cannot, and do not, operate in isolation. In line with the wider economy, the entrants reveal a challenging five-year period, but with a bright outlook. We have seen an increase in software companies from 13 to 16. Internet companies are second with 12 in this year’s ranking, compared to 13 in 2012.”

Those included on the Fast 50 list are automatically put forward to the Deloitte Technology Fast 500 EMEA programme, along with entrants from other national programmes run by Deloitte in the EMEA region.

Deloitte said the companies on the list will benefit from increased publicity. 

Last month Tech City UK announced the first 25 companies for its Future Fifty programme, which aims to help British businesses scale rapidly and encourage them to list on UK stock markets. 

Company Sector Region Growth rate
1 Infectious Media Media and entertainment London 9774%
2 Avecto Software North 4731%
3 AlertMe Internet Cambridgeshire and East 3393%
4 Mobile Account Solutions Ltd Telecommunications South East 3332%
5 Internet London 2658%
6 Monitise Plc Software London 2319%
7 Sixteen South Media and entertainment Northern Ireland 2214%
8 FreeAgent Software Scotland 2128%
9 Equal Experts UK Ltd Software London 2035%
10 Backbone Connect Telecommunications London 1810%
11 Evance Wind Turbines GreenTech Midlands 1627%
12 Internet London 1536%
13 Simplify Digital Ltd Software London 1443%
14 The Test People Software North 1356%
15 Intelligent Energy GreenTech Midlands 1333%
16 Infracast Telecommunications South East 1325%
17 Virtual1 Ltd Telecommunications London 1250%
18 Click Travel Software Midlands 1181%
19 Silixa Ltd Electronics London 1118%
20 The Magnetise Group Internet London 1102%
21 Skyscanner Internet Scotland 1033%
22 Horizon Discovery Ltd Biotechnology Cambridgeshire and East 1027%
23 Bowman Power GreenTech South East 1022%
24 Internet South East 991%
25 Textlocal Telecommunications North 980%
26 JUST EAT Internet London 976%
27 Maxymiser Software London 937%
28 sales-i Software Midlands 916%
29 Vegware GreenTech Scotland 901%
30 Supermassive Games Software South East 787%
31 Ayima Search Marketing Internet London 781%
32 CommAgility Ltd Telecommunications Midlands 766%
33 RandomStorm Internet North 722%
34 Academia Ltd Software London 711%
35 Brandwatch Software South East 703%
36 The Nostrum Group Software North 623%
37 P2i Electronics South East 611%
38 BCS Global Networks Telecommunications London 595%
39 Peach Telecom Telecommunications South East 571%
40 Global Personals Ltd Internet South East 570.64%
41 Forbidden Technologies Plc Software London 570.56%
42 HighQ Software London 570%
43 Oriium Consulting Ltd Telecommunications North 540%
44 4D Data Centres Telecommunications South East 529%
45 Mimecast Internet London 526%
46 MPB Photographic Internet South East 509%
47 M Squared Lasers Ltd Electronics Scotland 498%
48 Miroma International Media and entertainment London 496%
49 Orca Digital Telecommunications London 494%
50 FISCAL Technologies Ltd Software South East 487%