The revenue growth of Central European technology companies continues to accelerate, with Deloitte’s report on the Fifty Fastest-Growing Technology Companies in 2017 showing an average growth rate of 1,127 percent for the period from 2013 to 2016 inclusive, reaching a new record.
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“This is already the second consecutive year in which growth above the record 1,000 percent has been recorded,” said Zlatko Bazianec, head of the Croatian office and partner in Deloitte’s consulting department, adding: “This not only dispels any doubts about the extraordinary results of the previous year but also highlights the sustainability of the current boom in the technology sector in Central Europe in the medium term.”
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With eight ranked companies in the main category of the competition, Croatia is the second country after Poland with the highest number of companies placed. If we add two more Croatian companies that ranked in the Rising Star category, that totals ten companies on this year’s lists.
“The best ranking has been achieved as in 2015, and we can now highlight the positive and constant continuity of the establishment, development, and growth of technology startup companies in Croatia in the information technology and digital solutions sector, as well as the internet, media, and telecommunications, especially considering that all newly ranked companies were established in 2012,” stated Bazianec.
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In the category of the 50 fastest-growing, the best-ranked Croatian company this year is Rimac Automobili from the clean technology and energy sector, which is tenth on the list with a growth of 1,059 percent. Following are Code Consulting in 22nd place with a growth of 545 percent, Telum in 25th place with a growth of 520 percent, Profico in 28th place with a growth of 466 percent, Undabot in 35th place with a growth of 421 percent, Hangar 18 in 40th place with a growth of 368 percent, Gauss in 45th place with a growth of 347 percent, and the returning Infinum in 49th place with a growth of 315 percent after two years.
In the Rising Star category from Croatia, Q digital solutions company is in 2nd place with a growth of 2,246 percent, and Merit Media is in 9th place with a growth of 712 percent.
We can observe that among Croatian companies ranked on the lists, those from the information technology and digital solutions sector dominate, namely Code Consulting (Vukovar), Profico (Split), Undabot (Zagreb), Hangar 18 (Koprivnica), Gauss (Vukovar), Infinum (Karlovac), and Q (Zagreb), while Telum (Zadar) and Merit Media (Zagreb) come from the internet, media, and telecommunications sector, and Rimac Automobili (Sveta Nedjelja) from the aforementioned clean technology and energy sector.
In addition to being the best-ranked Croatian company on the list of the 50 fastest-growing, Rimac Automobili is also the only company from the clean technology and energy sector that achieved placement in the overall competition at the level of Central Europe.
New companies that achieved placement on the list of the 50 fastest-growing are Code Consulting, Profico, and Undabot, all established in 2012, as well as newcomers from the Rising Star category Q and Merit Media, which were established in 2013. Rimac Automobili, Telum, Hangar 18, and Gauss achieved placements last year, while Infinum this year, as a returnee, achieved its fantastic fourth placement in Deloitte’s competition after 2015, 2014, and 2013.
