Article: Ipsotek listed in The Sunday Times Hiscox Tech Track 100


Ipsotek is listed in the 17th annual Sunday Times Hiscox Tech Track 100

Reproduced by permission. Copyright The Sunday Times Hiscox Tech Track 100  | September 10, 2017



Britain’s brightest win global backing


Clever British tech entrepreneurs are attracting cash from all over the world in a vote of confidence for the UK’s thriving digital economy in spite of fears that Brexit could stifle investment. More than two-thirds (68) of this year’s Sunday Times Hiscox Tech Track 100 have raised money from private equity houses, venture capital firms and business angels from Europe, Asia and America. This was up from 46 last year and the highest since the league table was first published in 2001.


However, there are a record 40 loss-making companies, compared with 25 typically — and this comes amid growing concerns of another tech bubble, not helped by worries over the future of Uber. They rank alongside self-funded businesses in the 17th annual ranking of Britain’s fastest-growing private technology, media and telecoms firms. Combined, the 100 have achieved record average sales growth of 99% a year over their last three years, to make a total of £2.9bn.


Together they employ 15,300 people and have created 11,830 jobs over the period. The availability of growth capital is a key feature of the healthy digital ecosystem supporting tech firms as they scale up, as Wendy Tan White of BGF Ventures explains on page 6. One firm benefiting from new financing is cyber-security developer Darktrace (No 3), which is backed by investors including Invoke Capital, the investment vehicle of Autonomy co-founder Mike Lynch. It has raised $180m (£138m), including $75m in July. Headquartered in Cambridge and San Francisco, it is among the 80 Tech Track 100 companies that have generated revenue overseas.

Another is Farfetch (No 52), an online fashion platform that has raised £500m, including $397m (£305m) from Chinese ecommerce business in June. Farfetch is one of three unicorns in the table — small, fast-growing tech firms with valuations of more than $1bn. The others are currency exchange platform TransferWise (No 5) and peer-to-peer lending platform Funding Circle (No 27). Of the unicorns that appeared in the Tech Track 100 last year, travel search engine Skyscanner was bought by China’s Ctrip for £1.4bn in November, while ecom- merce technology developer Ve Inter– active was bought out of administration in April for a reported £2m. Our 100 companies are located all over the UK, but 57 have their headquarters in London.




These include No 1 firm Won- derbly, the personalised children’s book publisher whose sales have shot up 294% a year. It is among the firms breathing new life into the media sector, as Sean Duffy of Barclays explores on page 2. A new generation of “adtech” firms, driven by advances in technology, is another feature discovered by our research, as BDO’s Tony Spillett explains on page 4. These include LoopMe (No 20), which uses artificial intelligence to learn what ads to show to mobile users.

Other companies, such as Smarkets (No 2) and RateSetter (No 62), are tipped to raise more funds on the stock markets, joining Tech Track 100 alumni such as Just Eat, now valued at £4.2bn, and Sophos, valued at £2.2bn. Tim Cockroft of N+1 Singer explores the advantages of following this path on page 8. Some firms have thrived without external investment, such as Payment- sense (No 63), whose founders George Karibian and Jan Farrarons also started Capital on Tap (No 48). Thirty-seven of the 100 were founded by people who have started at least one other venture, as Hiscox’s Steve Langan explores below. Whether they are run by seasoned executives or first-time entrepreneurs, and regardless of their ownership, this panies show that tech sector is thriving.


Next generation of Intelligent Video Analytics driven by joined-up thinking 75 Ipsotek 55.92% Video analytics provider Perimeter incursion, abandoned vehicles and loitering are among the scenarios that Ipsotek’s patented CCTV software can detect. It analyses video camera footage in real time to look for predetermined situations and then tracks any dangers it identifies. The software is used by Transport for London, Network Rail, nuclear power plants, government buildings and at 26 international airports. Led by chief executive Bill Flind, 58, the business saw sales reach £5.1m in 2016, 92% of them generated overseas. The Wimbledon based company also has offices in the Middle East, Singapore and Canada.


Read the Tech Track 100 Supplement in full here

Britain's fastest growing private tech companies revealed: Tech Track 100 national press release

Ipsotek Ltd company details


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