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.
Who are the Deloitte Tech Fast 50?
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 tech 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 like realestate.com.au, Altium, Seek, 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 firms, but also provide openings to connect with investors.
Other Technology Fast 50 winners for 2021:
Leadership (companies on the Technology Fast 50 list and had over $50m in revenues):
- 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:
Rising Star (for the fast growth tech businesses in operation for less than three years):
Why was 2021 a special year?
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,” Josh added.
“And we’ve seen a big increase in the number of new entrants, with 40 first-timers compared to 10 repeat entrants – anoither pointer to how quickly firms are scaling due to 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.”
The 2021 award announcement was delayed from November 2021 due to the pandemic.
“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%) NSW – 24 (48%)
- 8 software (16%) VIC – 14 (28%)
- 8 fintech (16%) QLD – 7 (14%)
- 7 digital/media (14%) WA – 4 (8%)
- 6 communications (12%) SA – 1 (2%)
- 6 health-tech (12%)