Two Norwich firms have been highlighted for their extraordinary growth in the technology sector as part of a far-reaching study pinpointing some of the UK's top innovators.
Epos Now, which provides retailers with software and electronic till equipment, has emerged as the fastest growing tech firm in the East of England – and the 13th nationally – after bolstering its sales by 156pc to £5.2m last year.
Meanwhile, market-research company ServiceTick was ranked 68 in the UK following its substantial expansion, which saw sales increase 56pc to £5m.
The two businesses were earmarked as part of the Sunday Times Hiscox Tech Track 100, which ranks the 100 British technology, media and telecoms companies with the fastest sales growth over three years.
Nationally, Tech Track 100 companies achieved an average sales growth of 86pc, expanding from a combined total of £419m in 2011/12 to £2.2bn in 2014/15. They also grew their workforce to almost 12,000, having added more than 8,000 jobs over the period – some as a result of acquisitions.
Jacyn Heavens, chief executive of Epos Now, said: 'To be ranked 13th nationally and top regionally is a great testament to all of the Epos Now team, and it's fantastic that we've been able to create over 100 jobs in just three years.
'Together, we look forward to continuing to grow the business, both in the UK and overseas.'
The firm moved into new headquarters at Norwich Business Park, Whiting Road, at the end of last year as it announced plans to bolster his workforce from 68 to 100 and break into the American market.
The firm was enrolled into the EDP Future 50 class of 2014.
ServiceTick – part of the EDP Future 50 class of 2009 – was set up by founder Kevin Goodings in his kitchen while he was still running his web agency.
The company recently expanded beyond its headquarters on Queen Street with a second office on St Vedast Street. It employs 69 people.
Steve Langan, chief executive of Hiscox Insurance Company, which sponsors the league table, said: 'Tech is one of this country's most exciting sectors right now.
'It's a phenomenal success story with impressive growth and innovation that has shown the UK deserves its position as a tech hub.
'There is much that other sectors could – and should – learn from UK tech, particularly when it comes to staying relevant and being agile.
'Every single one of this year's Tech Track 100 businesses has made an important contribution to its sector and the wider economy, and that's something to be immensely proud of.'
Do you have a business story? Contact Ben Woods on 01603 772426 or email ben.woods@archant.co.uk
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