A record-breaking year for Deloitte’s Tech Fast 50

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A record-breaking year for Deloitte’s Tech Fast 50

7 April 2022: A Brisbane-based company that provides automated pricing software to the aviation industry is officially Australia’s fastest growing tech company.

Monarc Global has been announced as the winner of Deloitte’s annual Technology Fast 50 Australia Awards for 2021 after it achieved an impressive 6331% growth in revenue over the three-year period 2019-21. Runners up were Citrus Ad (3095%) and Telix Pharmaceuticals (2573%).

Now in its 21st year, the Deloitte Technology Fast 50 Australia program – also sponsored by ASX, DLA Piper and NAB – ranks and recognises the 50 fastest growing technology companies in the country with minimum cumulative revenues of $8 million over a three-year period.

Monarc joins an impressive list of businesses previously recognised by the program including Seek, realestate.com.au, Altium, ninemsn, iiNet, Atlassian, RSVP, Red Balloon, Webjet, NextDC, Modibodi, Afterpay, Menulog, Dodo, Vinomofo, and Zip.

The awards not only celebrate the success of Australia’s fastest growing tech companies, but also provide opportunities to connect with potential investors, helping put businesses on the map here and overseas.

Other Technology Fast 50 winners for 2021:

  • Leadership (for companies that made the Technology Fast 50 list and had more than $50 million in revenues in the last reporting year):
    • Winner Online luxury fashion retail platform Cettire (1518% growth over the three-year period)
    • Runners up Tesserent (1181%) and Tangerine Telecom (1139%)
  • Female Leadership (for companies that made the Technology Fast 50 list and which are founded or co-founded by women or have a female CEO:
    • Winner Monarc Global (6331%)
    • Runners up Coviu (1569%) and Complete Home Filtration (954%)
  • Rising Star (for the fast growth tech businesses in operation for less than three years):
    • Winner Mortgage lender Athena (8431%)
    • Runners up Removify (4781%) and iGreenData (3284%)

Technology Fast 50 Leader, Deloitte Partner Josh Tanchel, said: “2021 was a tough year for so many in so many ways, but it was a record-breaking one for the Techynology Fast 50. Making the top 50 was harder than ever. Nominations doubled from 2020, and the minimum percentage for entry onto the list hit 302% – up from 145% in 2020. The average growth rate for our top 50 companies also skyrocketed, to 936%, compared to 435% in the prior year, and 14 companies achieved more than 1,000% growth.

“And we’ve seen a big increase in the number of new entrants to the list, with 40 first-timers compared to 10 repeat entrants – anoither pointer to how quickly companies are scaling thanks to the power of technology.

“In an industry deeply impacted by the pandemic, overall winner Monarc Global has shown how innovation and technology can fast-track growth. And with a female co-founder, Monarc also takes the Female Leadership category, the first time a company has won both.”

“Yet again, the Technology Fast 50 is a strong indicator of where Australia’s technology sector is now, where it’s heading, and the businesses that are taking us there.”

Technology Fast 50 companies by sector:

              

And by state:

  • 15 online/direct to consumer (30%)
  • 8 software (16%)
  • 8 fintech (16%)
  • 7 digital/media (14%)
  • 6 communications (12%)
  • 6 health-tech (12%)
 
  • NSW – 24 (48%)
  • VIC – 14 (28%)
  • QLD – 7 (14%)
  • WA – 4 (8%)
  • SA – 1 (2%)

Media Contact:

Simon Rushton
Communications, Media & Corporate Affairs
M: +61 450 530 748
T: +61 2 9322 5562
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