Hat trick for eShopWorld as it wins again in Deloitte Technology Fast 50

6 Nov 2017

Deloitte partner Joan O’Connor with eShopWorld founder and CEO, Tommy Kelly. Image: Jason Clarke

North Dublin tech company eShopWorld is honoured once again in Deloitte Technology Fast 50.

For the third year in a row, eShopWorld took pole position at the Deloitte Technology Fast 50.

The company achieved a growth rate of 3,632pc over the last four years.

‘What really strikes me this year is the focus the winning companies have on global markets – we estimate just under 90pc of our winning companies’ revenues are generated by export’

Just six years old, eShopWorld has a turnover of more than €200m and currently employs more than 150 people. Earlier this year, it revealed plans to create 250 new jobs as part of a €26m investment that will bring total employment at eShopWorld to almost 400 staff by 2019.

The company provides bespoke e-commerce solutions to enable some of the world’s biggest clothing and sportswear brands to grow internationally while delivering a seamless, localised online shopping experience.

Founded in 2010 by CEO Tommy Kelly, eShopWorld has customers in more than 200 countries, with presences in Dublin, Newry, the US, Singapore and the Netherlands.

The company will travel to Silicon Valley, on a trip tailored by Silicon Valley Bank to suit growth trajectory, where it will meet with key investors, strategic partners and prospects.

New entrant to the ranking, software supremo Ray Nolan’s xSellco, which provides innovative products that allow e‑commerce businesses of all sizes to fulfil their potential, achieved second spot on this year’s listing.

LearnUpon, one of the fastest-growing learning management system vendors on the market, ranked third and was also a first-time entrant to the ranking. Encouragingly, this year’s ranking saw 16 new entrants, up from 11 last year.

The awards, now in their 18th year, rank Ireland’s fastest-growing technology companies and recognise indigenous firms that have demonstrated exceptional growth in turnover in the last four years.

Global outlook of Irish tech firms

Cumulatively, the 2017 Fast 50 winners generated approximately €858m in total annual revenues in 2016. The average revenue of companies featuring on the ranking was approximately €17m, while the average growth rate of the companies over the last four years was 290pc.

Similar to last year’s ranking, the software sector had a strong representation on the ranking, with 64pc of ranked companies from this field. Of the remaining companies, 16pc are in the communications sector, 12pc in hardware and 4pc in media. Also present were tech firms engaged in B2c, fintech and regtech.

“Each year, these awards showcase the very best of the Irish technology industry,” said Joan O’Connor, partner at Deloitte.

“What really strikes me this year is the focus the winning companies have on global markets – we estimate just under 90pc of our winning companies’ revenues are generated by exports – this demonstrates the ambition and drive of Irish technology companies to diversify, and the global nature of this business. Last year, we highlighted that export markets would become increasingly important for the indigenous sector, given the Brexit challenge – and it’s clear the Fast 50 companies are tackling this challenge head on.”

The 2017 Deloitte Technology Fast 50 ranking

Ranking Company Name County
1 eShopWorld Dublin
2 xSellco Dublin
3 LearnUpon Dublin
4 ThinScale Technology Dublin
5 SilverCloud Health Dublin
6 Ozaroo Antrim
7 Keywords Studios Dublin
8 Fenergo Dublin
9 Wolfgang Digital Dublin
10 P2V Systems Antrim
11 Repstor Limited Antrim
12 Teamwork.com Cork
13 Engaged Web Ltd Antrim
14 Asystec Limerick
15 Spearline Cork
16 Nostra Technologies Ltd Dublin
17 Journal Media Ltd Dublin
18 Granite Digital Cork
19 Arkphire Dublin
20 Roomex Dublin
21 AccountsIQ Dublin
22 Intellicom Ireland Offaly
23 Click&Go Dublin
24 Phorest Dublin
25 Action Point Innovation Ltd Limerick
26 JAR Technologies Antrim
27 Welltel Dublin
28 Lucid Interactive Derry
29 Aspira Cork
30 Fathom Antrim
31 Integrity360 Dublin
32 Neueda Ltd Antrim
33 Tickets.ie Dublin
34 AquaQ Analytics Antrim
35 CarTrawler Dublin
36 The Web Bureau Antrim
37 Ocuco Dublin
38 Intact Software Louth
39 Ryco Marketing Dublin
40 Tascomi Down
41 ITQuotes Dublin
42 Flint Studios Antrim
43 Origin Digital Antrim
44 EssentialSkillz Galway
45 StudioForty9 Cork
46 Learning Pool Derry
47 Agile Networks Dublin
48 Medical Account Services Ltd Dublin
49 Topfloor Systems Dublin
50 Leaf Antrim

John Kennedy is a journalist who served as editor of Silicon Republic for 17 years