Quartet of Midlands tech companies named among UK’s fastest growing

A quartet of Midlands firms has been named among the UK’s fastest-growing tech companies.

The Sunday Times 100 Tech listing is published today and in this weekend’s newspaper and ranks Britain’s fastest-growing private technology companies.

To qualify, firms must be independent, privately owned and headquartered in the UK and either sell their own proprietary technology or have developed proprietary technology essential to delivering products or services.

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Among those included is Warwick-based Moasure whose motion-based device allows customers to measure and draw simultaneously across all dimensions, connecting to an app that calculates perimeter, area, elevation and volume.

Founder Alan Rock set up the company in 2014 after inventing a small device which aimed to replace traditional methods of measuring a large outdoor space such as a garden or irregularly shaped swimming pool. It now has 12 international websites and ships to nearly 100 countries.

It posted revenue of £12.2 million over the past year and enjoyed annual sales growth of 102.91 per cent over the last three years.

Moasure was also named in our annual ‘Ones to Watch’ poll earlier this month which canvasses the opinions of West Midlands business leaders on which companies they expect to be making headlines in the months and years to come.

Also in the list is Birmingham-based nutrition firm Rem3dy Health which produces gummy stacks containing a mix of seven different vitamins and minerals based on a customer’s individual requirements.

Founded by American entrepreneur Melissa Snover in 2019, its main brand is Nourished and it operates from a factory in Digbeth which uses the firm’s own patented 3D printing technology.

The company posted revenue of £7.6 million in its latest accounts and growth of 100.04 per cent over the past three years while enjoying a foothold in markets such as the US, Japan, Greece, France and Italy.

Ms Snover said: “We are thrilled to be included on this prestigious list. It recognises the huge growth we have achieved since we started, just over five years ago.

“We have evolved from a previously untried nutrition concept into a truly international company that has a unique place in the wellness sector.

“Personalised nutrition is fast gaining popularity among consumers, particularly younger generations and is set to grow by more than 16 per cent a year globally by 2030.”

Nottingham-based workforce learning platform Thrive is the third highest-ranked Midlands company, posting turnover of £7.3 million in its latest accounts and growth of 80.73 per cent over the last three years.

Completing the region’s line up is pipe cleaning technology Hygienic Pigging System, also based in Nottingham, whose latest annual revenue is £7 million and sales growth of 28.49 per cent over the past three years.

The research found the 100 companies generated sales of £3.2 billion, up by £2.6 billion in the last three years.

In total, they employ 20,700 people and have created 11,200 new jobs over the last three years while 82 companies said they planned to make additional hires over the coming 12 months, totalling 4,200 jobs.

However, the Midlands region has one of the smallest representations in the list, with only Scotland (three), Northern Ireland (two) and Wales (one) securing fewer spots.

Perhaps unsurprisingly, London made up more than half of all entrants (56). Seventeen of the businesses are founded or led by women while 61 were launched within the last decade.

Sunday Times business editor Jim Armitage said: “The Government has pledged to kick start economic growth in 2025.

“The Sunday Times 100 Tech shows that Britain’s technology entrepreneurs are already making progress, creating high-value jobs and delivering cutting-edge goods and services.

“These businesses are proof that Britain remains a powerhouse for innovation. The rapid development of AI represents one of the biggest economic opportunities since the internet.

“We have seen the Government embrace AI this week but we still need the right support structures put in place to help the entrepreneurs who are harnessing AI to thrive.”

The research for the list was conducted by Sunday Times business reporters in partnership with data company Beauhurst.