Deloitte has announced Technology Fast 500 EMEA 2017 results (Europe, the Middle East and Africa). For the first time in the history of this project, Lithuania’s representatives entered TOP10 – Deeper was ranked 8th. As many as 62 Central Europe companies have been included in this year’s ranking for the EMEA region among which 7 were from Lithuania.

The Deloitte Technology Fast 500 EMEA program is an objective industry ranking that recognizes the fastest-growing technology companies in Europe, the Middle East and Africa (EMEA) during the past four years. The program is supported by the Deloitte Technology Fast 50 initiatives, which rank high-growth technology companies by location or specifically defined geographic area.

Overall, this year’s Technology Fast 500 list for the region features winners from 18 countries, with an average growth rate of 1,377 percent, up from 967 percent in 2016. Growth for individual companies on the list ranged from 220 percent to 107,117 percent.

“This year’s Fast 500 list is led by organizations with unprecedented growth,” said Paul Sallomi, Deloitte Global Technology, Media & Entertainment, and Telecommunications, Industry Leader. “As technology continues to evolve, 2017’s ranking companies show that every industry is ripe for transformation, impacting both consumers and enterprises across sectors. We congratulate our winners and are excited to see their continued achievements in 2018.”

The 2017 Deloitte Global Technology Fast 500 EMEA top 10:

Deeper – among the TOP 10 fastest-growing technology companies in EMEA

For the first time in the project history, representative from Baltic countries was ranked among TOP 10 the fastest-growing technology companies in the EMEA region. Lithuanian company Deeper took 8th place (7,048%) and was honoured in the awards ceremony in Paris. Earlier this year, Lithuanian smart sports technology business Deeper was ranked 2nd place in Deloitte Fast 50 Central Europe ranking.

“We’re really proud to be the first country from the Baltic States to be named in the top 10 fastest growing tech companies in the region. We have very strong sales in this region, and we’re building an ever-growing community of smart anglers across Europe in particular. It’s great to receive recognition from global authorities like Deloitte, and to know our aspiration to become a major consumer electronics company with global reach is becoming a reality,” said Rolandas Sereika, one of the founders and CMO at Deeper.

Success of Lithuanian companies

So far, it has been the most successful year for Lithuanian companies – 7 companies from Lithuania made to Deloitte Technology Fast 500 EMEA ranking. In addition to Deeper (8 place), this year’s Deloitte Fast 50 CE laureates Good One (58 place), Invenis (2014 place), TV Žaidimai (114 place) and Telesoftas (382 place) as well as the last year’s Deloitte Fast 50 CE laureates Exacaster (418 place) and INVENTI (456 place) were ranked among the fastest growing technology companies in EMEA.

Last year, Lithuanian cloud solutions creator INVENTI was the only representative in Deloitte Technology Fast 500 EMEA ranking and took 314th place.

According to Marius Stalenis, Director of Deloitte verslo konsultacijos, “CE companies have been taking an increasing share among the fastest-growing technology businesses operating globally. What is even more exciting is that the representatives from Lithuania are gaining recognition not only in Central Europe, but also in the EMEA region. We are very proud that there are so many companies in Lithuania, which courageously strive for global development. Of course, special gratitude goes to Deeper team, which has achieved what no one in the Baltic States was able to do during the seventeen years in the project history. We look forward to your continued leadership.”

Companies from Lithuania in the ranking:

Technology Fast 500 EMEA 2017 winner

Deliveroo, a UK company, was the number-one ranked company on the 2017 EMEA Technology Fast 500 list. Deliveroo grants consumers the ability to order food from local restaurants, both private and chain, who otherwise may not offer delivery.

Will Shu, Founder and CEO at Deliveroo, said, “Deliveroo has been able to scale at pace thanks to advances in our technology, the offer of flexible work which our riders value, and great food from our restaurant partners.

“The next exciting phase in our development will see more power being handed to the consumer, with restaurants better able to cater for consumers’ needs because they have richer data to work with. As we grow further, we will bring more people more choice, healthier options and new food, and as our technology improves deliveries will become faster and our selection on offer will become more varied.”

Geographic overview

While the CE region has 62 representatives, Poland is represented by the total of 25 businesses in EMEA Technology Fast 500; 7 come from Lithuania, 6 from Croatia, 5 from Bulgaria and Czech Republic, 4 from Romania and Slovakia, 3 from Hungary, Bosnia and Herzegovina, Estonia and Latvia are represented by one representative each.

France had the most winners in the Technology Fast 500 for EMEA for a seventh consecutive year — though narrowly surpassing the UK in second. The other top represented regions and countries included Central Europe, the Netherlands and Sweden. As many as ten CE firms have been ranked in the top hundred of Fast 500.

Sector overview

The companies with the highest cumulative growth percentages in this year’s rankings were in media, communication and software.

About the Deloitte 2016 Technology Fast 500 EMEA program

Deloitte Global’s Technology Fast 500™ EMEA program is an objective industry ranking focused on the technology ecosystem. It recognizes technology companies that have achieved the fastest rates of revenue growth in Europe, the Middle East, and Africa (EMEA) during the past four years. The program is supported by Deloitte Global’s Technology Fast 50 initiatives, which rank high-growth technology companies by location or specifically defined geographic area, and are run by Deloitte Global’s Technology, Media & Telecommunications (TMT) industry group. More information on the program is available at www.deloitte.com/fast500emea.

Sponsors of Deloitte Global’s 2017 Technology Fast 500 EMEA program are Euronext, a pan-European exchange that helps tech companies finance growth and innovative projects through the stock market; Oracle NetSuite, provider of cloud-based financials / Enterprise Resource Planning (ERP), HR and omnichannel commerce software that runs the business of companies in more than 100 countries; and Michael Page, recognized by clients and candidates the world over as the leading specialist consultancy in permanent recruitment, temporary staffing and interim management.

The Technology Fast 500 ranking is driven primarily by the local Fast 50 programs across EMEA, which recognize rapidly growing technology countries in a particular country or EMEA geography. All companies that receive a Technology Fast 50 ranking are automatically entered into the Technology Fast 500 program.

Now in its seventeenth year, the Technology Fast 500 program in EMEA included over 18 countries, including Lithuania, Belgium, France, Finland, Germany, Italy, the Netherlands, Turkey and the UK. This year’s winners were selected based on percentage fiscal-year revenue growth from 2013 to 2016.

To qualify for the ranking, businesses need to fulfil the following criteria:

• Develop or create propriety technologies and/or spend a significant amount of capital on research & development;
• Have an ownership structure that excludes majority-owned subsidiaries of strategic entities;
• Have its headquarters in a participating country;
• Remain in business for at least 4 years and have base-year operating revenues of €50,000 and a current year operating revenue of at least €800,000.