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

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’
^{– JOAN O’CONNOR}

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