Deloitte Technology Fast 50: Three Romanian companies among the fastest-growing technology companies in CE

UiPath, the first business ever to win a special distinction for the Most Disruptive Innovation Award

 

Bucharest, 16 October 2017. Three Romanian companies made it to the Central European Deloitte Technology Fast 50 ranking and one received a special award for the Most Disruptive Innovation.

 The speed of growth among Central Europe’s technology companies continues to accelerate, with average growth between 2013 and 2016 hitting a new record of 1,127%.

This not only confounds any suspicions that last year’s exceptional results could not be surpassed, but it is a confirmation that the current tech boom in Central Europe is a healthy one.

 The average growth rate of Central Europe’s Fast 50 technology companies sets new record of 1,127%

  • This is the second consecutive year of +1,000% average growth
  • Companies from 11 countries are represented, including three from Romania
  • The top five places in Fast 50 ranking are taken by new entrants – all Rising Stars of 2016
  • Companies representing the IT & Digital solutions sector dominate the ranking with 39 companies

First place in the 2017 ranking goes to Czech online flight-booking business Kiwi.com, with a growth rate for the past four years of 7,145%. Kiwi.com was last year on the fifth place under the name Skypicker.com, suggesting that its 2021 target of becoming the world-leader in online travel is within its grasp. Only fractionally behind is last year’s Rising Stars winner, Lithuanian smart sports technology business Deeper, while on the third place is Prusa Research from the Czech Republic.

 

Fast 50 ranking in Romania

 Forty-three Romanian companies took the start of the competition out of which three have made it in the Fast 50 ranking. The Romanian company with the largest revenue growth rate is the company Trencadis, based in Baia Mare, with a growth of 710%. For the second time in Fast 50 ranking and with an improved position (19) compared to last year (40), Trencadis is a systems integration company whose main goal is to optimise and innovate institutions’ and companies’ citizen and customer-related work processes.

 For the first time in Fast 50 ranking, Timisoara-based Qualteh entered directly on the 39 place in the ranking, with a growth rate of 388%. Qualteh provides development and customisation for innovative high-quality enterprise and mobile software solutions.

With a 324% growth rate, Tremend, a software company from Bucharest with over 11 years of experience, came 47th. For the second time in the Fast 50 ranking, Tremend specializes in delivering complex software solutions incorporating advanced technologies, whose clients range from innovative US start-ups to multinational enterprises from over 15 countries on three continents.

Robotic process automation software vendor UiPath becomes the first business ever to win a special distinction for the Most Disruptive Innovation Award. The award marks those businesses that are pioneering highly disruptive new ideas or technologies. Founded in 2015, UiPath aims to change the world through the automation processes and to ease people’s work, allowing them to focus more on the creative part of the work.

“Romanian tech companies have always been among the performers of the Fast 50 ranking and I am glad that we make no exception this year. I would like to congratulate this year’s performers, who are young companies born in the new economy. They are companies that grow in one year as others in 100 and we support them on their scaling journey,” said Alina Mirea, Partner Deloitte Romania and local coordinator of the program. “For 18 years, Deloitte has been following entrepreneurs as they grow in leaps, from young businesses that we support during their development, to more mature ones, too large for the Fast 50 ranking, but with which we continually collaborate.”

 

Special categories

The Rising Stars category marks those younger businesses with such strong growth that they are likely to feature in the Fast 50 in the years to come. Indeed, the fact that the top five in the main 2017 ranking were Rising Stars a year ago proves the value of this approach. This year’s Rising Star is Lithuanian 3D-model marketplaces CGTrader, with a four-year growth rate of 3,329%.

The Big Five category is for fast-growing larger companies whose scale makes it difficult for them to compete in revenue growth with the smaller businesses in the Fast 50. This year’s winner is Czech online and real-world fashion retailer, ZOOT, with a four-year growth rate of 820%.

Serbia-based heating, ventilation and air-con innovator Dadanco Europe has won the Most Disruptive Innovation Award.

 

Countries

This year, 11 countries contributed to the Fast 50: Poland (19), Croatia (8), Lithuania (6), the Czech Republic (5), Romania (3), Bulgaria, Hungary and Slovakia (2 each), and Bosnia & Herzegovina, Estonia and Latvia (1 each).

 

Sectors

In 2017, the Fast 50 was once again dominated by companies from the IT & Digital Solutions sector (39). There were 10 entrants from the Internet, Media and Telecom sector, and just one from Clean Tech & Energy (down from three in 2016). There were no entrants from Biotech, Nanotech & Medtech.

 

Ranking

The 2017 Central Europe Technology Fast 50 companies are:

 

Company Country Growth rate (%) Area
1 Kiwi.com s.r.o. Czech Republic 7165 IT & Digital Solutions
2 Deeper, UAB Lithuania 7048 IT & Digital Solutions
3 Prusa Research s.r.o. Czech Republic 6910 IT & Digital Solutions
4 Tooploox Sp. z o.o. Poland 2827 IT & Digital Solutions
5 Absolvent.pl Sp. z o.o. Poland 2437 IT & Digital Solutions
6 Inloop, s.r.o. Slovakia 2211 IT & Digital Solutions
7 NSoft d.o.o. Mostar Bosnia and Herzegovina 1990 IT & Digital Solutions
8 Good one, UAB Lithuania 1962 Internet, Media & Telecom
9 Cloud Technologies S.A. Poland 1558 IT & Digital Solutions
10 Rimac Automobili Croatia 1059 Clean Tech and Energy
11 Invenis, UAB Lithuania 1048 IT & Digital Solutions
12 Bold Brand Commerce Sp. z o.o. Poland 1018 IT & Digital Solutions
13 TV Žaidimai, UAB Lithuania 981 IT & Digital Solutions
14 STRV s.r.o. Czech Republic 963 IT & Digital Solutions
15 ZOOT a.s. Czech Republic 820 Internet, Media & Telecom
16 Titan Gate JSC Bulgaria 802 Internet, Media & Telecom
17 Droids On Roids Sp. z o.o. Poland 761 IT & Digital Solutions
18 EazyOne SIA Latvia 731 IT & Digital Solutions
19 S.C. Trencadis Corp SRL Romania 710 IT & Digital Solutions
20 The Software House Sp. z o. o. Poland 705 IT & Digital Solutions
21 Yieldbird Sp. z.o.o Poland 673 Internet, Media & Telecom
22 Creotech Instruments S.A. Poland 548 IT & Digital Solutions
23 Code Consulting Ltd Croatia 545 IT & Digital Solutions
24 Starschema Kft. Hungary 541 IT & Digital Solutions
25 Telum d.o.o. Croatia 520 Internet, Media & Telecom
26 Accedia JSC Bulgaria 495 IT & Digital Solutions
27 INIS Sp. z o.o. Poland 475 Internet, Media & Telecom
28 Profico Croatia 466 IT & Digital Solutions
29 Oktawave Sp. z o.o. Poland 462 IT & Digital Solutions
30 Sarigato Sp. z o.o. Poland 447 Internet, Media & Telecom
31 Kerris Group Sp. z o.o. Poland 444 Internet, Media & Telecom
32 Grupa TENSE Sp. z o.o. Sp.k. Poland 436 Internet, Media & Telecom
33 ADEO WEB, UAB Lithuania 427 IT & Digital Solutions
34 SentiOne Sp. z o.o. Poland 425 IT & Digital Solutions
35 Undabot d.o.o. Croatia 421 IT & Digital Solutions
36 STX Next Sp. z o.o. Poland 408 IT & Digital Solutions
37 INVENTI Solution s.r.o. Czech Republic 408 IT & Digital Solutions
38 Monterail Sp. z o.o. Poland 393 IT & Digital Solutions
39 S.C. QUALTEH JR SRL Romania 388 IT & Digital Solutions
40 Hangar 18 d.o.o. Croatia 368 IT & Digital Solutions
41 Riešenia, spol. s r.o. Slovakia 365 Internet, Media & Telecom
42 Scoro Software OÜ Estonia 353 IT & Digital Solutions
43 Cenatorium Sp. z o.o. Poland 353 IT & Digital Solutions
44 Hiflylabs Zrt. Hungary 348 IT & Digital Solutions
45 Gauss LTD Croatia 347 IT & Digital Solutions
46 Netguru Sp. z o.o. Poland 328 IT & Digital Solutions
47 S.C. Tremend Software Consulting SRL Romania 324 IT & Digital Solutions
48 10Clouds Sp. z o.o. Poland 316 IT & Digital Solutions
49 Infinum d.o.o. Croatia 315 IT & Digital Solutions
50 TeleSoftas, UAB Lithuania 310 IT & Digital Solutions

 

 

Big Five category

 Company Country Growth rate (%) Area
1 ZOOT a.s. Czech Republic 820 Internet, Media & Telecom
2 Titan Gate JSC Bulgaria 802 Internet, Media & Telecom
3 Pigu, UAB Lithuania 208 Internet, Media & Telecom
4 ESET, spol. s r.o. Slovakia 35 Internet, Media & Telecom
5 Aliter Technologies, a.s. Slovakia 2 IT & Digital Solutions

 

Rising Stars category

Company Country Growth rate (%) Area
1 CGTrader, UAB Lithuania 3329 IT & Digital Solutions
2 Q Croatia 2446 IT & Digital Solutions
3 dogadamycie.pl Sp. z o.o. Poland 1532 Internet, Media & Telecom
4 Tresorit Kft. Hungary 968 IT & Digital Solutions
5 VoicePIN.com Sp. z o.o. Poland 875 IT & Digital Solutions
6 Salelifter Sp. z o.o. Poland 786 Internet, Media & Telecom
7 Pilulka Distribuce s.r.o. Czech Republic 736 Internet, Media & Telecom
8 OptoForce Kft. Hungary 715 IT & Digital Solutions
9 Merit Media Int Croatia 712 Internet, Media & Telecom

For more information about the Deloitte Central Europe Technology Fast 50 programme, visit http://www.deloitte.com/fast50ce

 

About the ranking

The Central Europe Technology Fast 50 ranks the region’s fastest-growing tech companies, based on revenue growth over a four-year period. For the 2017 ranking, revenues from 2013 to 2016 were analysed.

The main category

Companies must meet a number of criteria to be considered eligible for the main CE Fast 50 ranking:

  • Annual revenues of at least €50,000 in each year between 2013 and 2016
  • Headquarters in a Central European country (Albania, Bulgaria, Bosnia & Herzegovina, Croatia, the Czech Republic, Estonia, Hungary, Kosovo, Latvia, Lithuania, Macedonia, Moldova, Montenegro, Poland, Romania, Serbia, Slovakia or Slovenia)
  • Develop or manufacture proprietary technologies or spend a significant amount of capital on R&D
  • Have an ownership structure that excludes majority-owned subsidiaries of strategic entities.
  • Winners are then selected by ranking their revenue growth over the four years from 2013 to 2016.

 

More information about eligibility criteria is available at http://www.deloitte.com/fast50ce