Iplicit ranks 40th in Deloitte UK Technology Fast 50 list

Iplicit Ltd has been listed among the 50 fastest-growing tech companies in the UK, securing the 40th position in the annual Deloitte UK Technology Fast 50 list.

The rankings are determined based on percentage revenue growth over the past three years, during which Iplicit reported a growth rate of 742% from the year ending 31 March 2021 to the year ending 31 March 2024.

This recognition follows Iplicit's earlier listing in the FT1000 as the 18th fastest-growing UK business and its top 10 placement in the Sunday Times Best Places to Work in May.

Lyndon Stickley, CEO of Iplicit, commented: "We have created something very special, here at Iplicit. It's the culmination of leading-edge technology meeting a seasoned commercial team, along with a tonne of investment and a very large dose of luck!"

Stickley elaborated on the company's market strategy, stating, "We entered the market on the assumption that we could be the salvation for 3,000 disenfranchised Exchequer Software sites, but it turned out that we have a product that offers a lifeline to over 90,000 organisations in the UK alone; we rescue finance teams that are held hostage to legacy technology and don't have a clear pathway to an affordable, yet powerful cloud accounting solution."

Since its launch in 2019, Iplicit has expanded to include more than 2,000 organisations with over 30,000 daily users on its platform.

Stickley further remarked, "Half of our business now comes from very unhappy Sage 50 and Sage 200 users. We estimate that we will secure a significant portion of this market. Just a 5% market share will make us the next tech unicorn, and with the most desirable solution in the market today, there's no reason we shouldn't achieve 10 times this amount."

Iplicit remains a privately funded enterprise, with GBP £18.5 million invested by its founding shareholders and management team.

Kiren Asad, lead partner for the Deloitte UK Technology Fast 50 programme and technology partner for the London region, stated: "We continue to see the resilience of the UK's technology sector, demonstrated clearly from the impressive growth amongst this year's Fast 50 winners. Amidst challenging economic conditions, these businesses have navigated their way to growth through tenacity, talent, and innovation in what remains a competitive market. I would like to extend my congratulations to all of the winners."

Asad also noted that the 50 fastest-growing UK technology companies generated GBP £1.93 billion in total annual revenues for the year 2023/24, adding, "Being one of the fastest growing technology companies in the UK is an impressive accomplishment. We commend Iplicit for making the Deloitte UK Technology Fast 50 with a phenomenal 742% growth rate over three years."