Sonovate is the 12th fastest growing company in the UK according to a new report from market research group Beauhurst and crowdfunding platform SyndicateRoom, which profiled the 100 fastest-growing companies based on how their valuations have grown over the past three years.
This is the second year in a row Sonovate have been in the top 100 fastest growing companies in the UK, reaching 5th place in 2017. Maintaining the 30x growth valuation from 2017, placed Sonovate in 12th position ahead of well known companies such as Deliveroo and Brewdog.
Challenger energy-provider Bulb took number one position, having seen its valuation multiply 351 times during the three years since 2015.
- This year’s Top 100 list is made up of 53 venture-stage businesses, 44 growth-stage and three seed.
- Almost three-quarters (73%) of the Top 100 fall into the category of technology/IP-based businesses, up from just 44 in 2017. (The tech/IP-based businesses category includes clean energy, security services, fintech, mobile apps and medtech, among others.)
- 67 out of the 100 businesses are based in London. After London, the next biggest hubs are the nearby South East region and East of England, each originating ten of the Top 100.
Sonovate Co-CEO Damon Chapple commented “This is fantastic recognition of the hard work that has gone in from all of the team in the last 12 months. The report methodology reflects Sonovate’s mission to increase value for each of our customers.”
Co-CEO, Richard Prime added, “To maintain a 30x valuation, whilst growing our business in a highly competitive market is far from easy. To be in this list for the second year running is a fantastic achievement.”
The top 10 fastest growing companies in the UK*
(Rank, company, multiple increase in valuation 2015–2018)
- Bulb 351x
- Lyst 134x
- ReViral 59x
- Perkbox 52x
- Behavox 51x
- CMR Surgical 45x
- Improbable 43x
- The Cotswolds Distillery 41x
- SmartUp 40x
- Black Sheep Coffee 38x
Download copy of SyndicateRoom’s report
*Beauhurst based its ranking on the valuation of companies that raised at least one round of equity funding before June 30, 2015 and at least one round of equity funding after July 1, 2015. If a company’s valuation could not be confidently calculated it was excluded.