Shropshire duo win places on league table of Britain’s fastest-growing private tech companies

Two businesses in Shropshire have been named in a league table which ranks Britain's fastest growing private technology, media and telecoms companies.

Collaboration tool for video conferences
Collaboration tool for video conferences

Telford-based Rebound Returns and Craven Arms-based Igloo Vision have been named in the 20th anniversary Sunday Times Sage Tech Track 100 league table.

Rebound Returns, ranked 24th, provides software that handles returns and logistics for retailers. It has reported sales with £27.3 million in the year ending December 2019 and has reported an annual sales growth of 113 per cent over three years.

Igloo Vision, ranked 98th, is a virtual reality technology developer, whose software has been used in virtual lecture theatres to help make online learning more interactive during the pandemic. Chief executive Dennis Wright, co-founder of Tech Track 100 alumnus Digital Vision, oversaw sales of £9 million this year and the firm has reported an annual sales growth of 49 per cent over three years.

The four companies headquartered in the Midlands, including Rebound Returns and Igloo Vision, have grown their sales by an average of 74 per cent a year over three years to a total of more than £70 million, and collectively employ 425 people.

The companies in the Midlands appear with firms from around Britain, including seven “unicorns”, such as digital banking app Revolut; cyber-security developer Darktrace; healthcare app Babylon Health, which now provides advice on Covid-19 symptoms; and Oxford Nanopore, which has developed a low-cost coronavirus test.

The Tech Track 100 is sponsored by Sage, Barclays, BDO, BGF and N+1 Singer, and compiled by Fast Track, the Oxford-based research and networking events firm.

Paul Struthers, managing director, UK & Ireland at Sage, said: “Being tuned into the drumbeat of the UK’s tech innovation is in our blood and it is fantastic to see companies in the Midlands that are thriving despite the challenging environment. The Tech Track 100 is a great platform for us to support and showcase the next generation of the country’s brilliant tech businesses.”

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