Networking solutions company In Touch Networks is the fastest growing technology business in the North West for the second consecutive year, according to Deloitte’s 2017 UK Technology Fast 50.
The awards, now in their twentieth year, recognise and rank the 50 fastest growing technology companies in the UK based on the last four years of revenue growth.
Manchester-headquartered In Touch Networks uses cutting-edge technology to improve the recruitment of hiring non-executive directors, consultants and finance directors.
It experienced 1,572 per cent growth over the last four years, resulting in it climbing 21 places since last year to 18th in the overall rankings.
“We’re obviously doing something right – we’ve massively increased our growth rate,” said the company’s CEO Matthew Roberts.
“Memberships have gone through the roof, and we boast a 97 per cent renewal rate year-on-year, which we’re delighted about.
“We’ve seen an opportunity in the US, and done some trial marketing out there, which has been really well received.
“The market size there is a great lure, yet we haven’t even scratched the surface in the UK – we currently have 17 networks that are in various stages of development.
“We’ve got an amazing business but the secret to successful growth is keeping things as simple as possible.
“A lot of companies, as the team gets bigger, add in layers of complexity that aren’t always needed.”
Claire Jolly, head of TMT at Deloitte in the North West said: “The North West is once again proving itself to be a key market in the UK technology scene.
“It’s encouraging to see a new regional entrant to this year’s list, and for both companies that placed last year to have kept up their high growth rates is a great achievement.
“In Touch Networks has continued to disrupt the market in another successful year; 12 months ago, when first realising the accolade of regional winner, the business had 26,000 members – that figure now stands at 220,000.
“Having only been founded three years ago, In Touch Networks has firmly established itself as one of the UK’s most exciting technology companies.
“I look forward to seeing North West tech firms build on these successes next year and beyond.”
Overall the 50 fastest growing technology companies in the UK generated c£1 billion in total annual revenues in the year 2016/17 and employed more than 9,000 people, including 1,800 in R&D alone.