For the 21st consecutive time, the international consulting company Deloitte presented its “Technology Fast 50” ranking for Central Europe. Three Bulgarian software companies were also awarded in it. These are Coursedot, StorPool Storage, and CloudCart.
The report aims to rank the fastest growing technology companies in the region. The organizations’ main ranking criterion is based on percentage revenue growth over the last four years – a minimum of € 50,000 in 2016, 2017, and 2018 and at least € 100,000 in 2019. It should also be noted that financial data of the companies are provided by the entrants themselves and are gathered via Deloitte’s online survey tool. This information is then cross-checked and passes strict verification.
Coursedot ranks first among the Bulgarian organizations, standing 13th in the ranking with a growth of 1366%. The other two domestic companies – StorPool Storage and CloudCart, ranked 46th and 50th, respectively, with a 541% and 494% increase in operating income.
Two other Bulgarian companies find a place in the special section of Deloitte’s report – Rising Stars. This category includes two more Bulgarian companies – EnduroSat and NOTOLYTIX, which mark the growth of 405% and 267%, respectively. The Rising Stars section includes organizations that cannot currently meet the core criteria to be part of Technology Fast 50 but have development potential and over € 30,000 in operating income for the previous three years.
In this year’s edition of the report, Deloitte introduces a new section – Impact Stars. It includes three companies from each country in the region, which manage to positively impact at least one of the following categories through the product or service they offer: public life, the overall business environment, innovation, environment, and social diversity. The three Bulgarian companies that fall into this section are EnduroSat, CloudCart, and ESCREO.
The Bulgarian companies awarded in the various sections of the report are among the more than 300 applicants for participation this year. The year also marked a record average growth in the distinguished organizations’ operating turnover – 1460%. This shows that the business environment in the region is suitable for the development of the companies.
The leader in the ranking this year is the Polish company Packhelp, which marks a growth of over 9000%. Nine countries are represented in the ranking this year, with the Czech Republic (21), Poland (15), and Croatia (5) representing the largest number. Bulgaria is third with three companies. The strongest performance by sectors is among software companies, followed by media and entertainment, hardware, and fintech.
Which are the Bulgarian companies in Deloitte’s “Technology Fast 50.”
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StorePool Storage provides one of the fastest solutions for software-defined storage (SDS) at the block level on the Bulgarian market. Their product is used by public and private cloud manufacturers – enterprises, telecommunications, MSP, SaaS, cloud and hosting providers, and others. It is offered as software, plus a fully managed service that transforms stock hardware into a fast, highly accessible, and scalable data storage platform.
CloudCart is developing a new globally-focused SaaS project in the field of e-commerce, bearing the same name as the brand – “CloudCart” – a complete e-commerce platform, enhanced by marketing. The idea of CloudCart is to be a high-end professional solution for creating and maintaining online stores, which is used by non-professional retailers who want to start and develop their online business. CloudCard’s primary goal is to improve and facilitate the process of managing online stores by actually helping online retailers focus on what they do best: creating, sourcing, and selling their products and services online.
EnduroSat is one of the fastest-growing space companies in Europe, providing solutions for the global space market. The company was founded in 2015, and by the end of 2016, the team designed its first satellite systems. In the second quarter of 2018, they launched their advanced communication and power modules. At the end of the same year, the number of customers that the company supports in their space ventures amounted to 50.
NOTO is the main product of NOTOLYTIX, founded in 2015. It is a state-of-the-art software platform designed for real-time monitoring of financial and/or non-financial transactions. The company’s founders’ entire professional experience in fraud prevention is embedded in the platform and ensures regulatory compliance with the regulatory framework, and helps to control operational risk in the fintech industry.