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Four North East companies named among Britain’s 100 fastest-growing tech firms

The fifteenth annual Sunday Times Hiscox Tech Track 100 league table, which ranks Britain’s private technology, media and telecoms companies with the fastest-growing sales over three years,featured four North East companies when it published this weekend.

The four companies headquartered in the region, which include three first time entrants, have made a strong contribution to the local economy over the last three years. Collectively employing a total of 278 people, the firms have achieved combined sales of £26m.

The top-ranked company in the region is Gateshead-based Ontrac, which builds systems that help businesses consolidate the disparate data found throughout an organisation in databases and legacy IT systems. The company appears on the league table for the first time and has grown sales 115% a year to £7.1m in 2015, which ranks it number 21 nationally.

Other new entrants include cloud computing services provider SITS Group based in Cramlington in Northumberland, and Stockton-on-Tees-based website developer Visualsoft.

The North East firms appear with companies from around the UK, including flight search engine Skyscanner and peer-to-peer lending platform Funding Circle. Past league table stars include property website Zoopla, now valued at £1bn, and Just Eat, now worth £2.6bn.

The Tech Track 100 league table and awards programme is sponsored by Hiscox, Barclays, BDO and Business Growth Fund and compiled by Fast Track, the Oxford-based research and networking events firm.

Steve Langan, CEO of Hiscox Insurance Company, the title sponsor of the league table, said: “Tech is one of this country’s most exciting sectors right now. It’s a phenomenal success story with impressive growth and innovation that has shown the UK deserves its position as a tech hub.

“There is much that other sectors could – and should – learn from UK tech, particularly when it comes to staying relevant and being agile. Every single one of this year’s Tech Track 100 businesses has made an important contribution to its sector and the wider economy, and that’s something to be immensely proud of.”

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