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IZaZXdbbjc^XVi^dch

TECH TRACK 100: Britains fastest-growing private technology companies

PlantHirer
tHir TORFX
DATANOMIC

112

Foreign
provider
Softwarecurrency
developer

114.24%
217.12%
114.59%

THE software made by Datanomic helps

businesses save money, streamline their
processes, reduce waste and remain
compliant with legislation. Most of its 160
customers are in the financial services,
telecoms, retail and utilities sectors and
include Barclays, Vodafone, Royal Mail
and Lloyds of London. Sales growth at the
Cambridge firm is partly attributed to
overseas expansion offices in New York
and Singapore were opened recently. The
company was founded in 2001 by Richard
Marsh and is led by chief executive
Jonathan Pell. Sales rose 115% a year from
524,000 in 2006 to 5.2m in 2009.

PlantHirer
tHir TORFX
MONEYBOOKERS

2
12

Foreign
currencyprovider
provider
Online payment

PlantHirer
tHir TORFX
FOURTH HOSPITALITY114.24%

2
16

PlantHirer
tHir TORFX
KASPERSKY LAB

2
18

Foreign
currency
provider
Hospitality
software
provider 217.12%
96.09%

CLIENTS including Carluccios,

Wagamama, Fullers, Marstons and
Jamies Italian use Fourth Hospitalitys
web-based software to manage invoicing,
purchasing, stock control, menus,
human resources and payroll. The
business has spent the past 12 months
expanding in Britain as well as overseas,
most notably in Spain and America.
Earlier this year it also acquired a
company that develops menu planning
and nutritional management software.
Fourth Hospitality was founded by
husband and wife Derek and Edwina
Lilley. Its sales grew 96% a year from
1.1m in 2006 to 8.4m in 2009.

Foreign
provider
Softwarecurrency
developer

114.24%
217.12%
93.39%

KASPERSKY LAB is best known for its

anti-virus products, but the company also
offers anti-spam, mobile security and
hosted email protection software. Only a
small proportion of its products are sold
direct to customers the vast majority of
its revenue is generated by licensing its
technology to vendors. Software
developer Eugene Kaspersky founded the
Moscow company in 1997 and decided to
register it in Britain, and base it near
Oxford, as a springboard to America.
Sales increased 93% a year from 29m
in 2006 to 210.5m in 2009. The company
has the second-highest profits in the
league table, at 62.6m.

PlantHirer
tHir TORFX
CONTENT AND CODE 114.24%

2
20

Foreign
provider
Softwarecurrency
consultancy

217.12%
88.97%

THIS London company designs websites

and intranets and advises its clients on
how to get the most from their Microsoft
software. Its recent projects have
included designing a content
management system for Wembley
stadium staff, who use it to organise
events at the venue. The company also
helped to improve the accessibility of the
Royal National Institute for the Blinds
intranet and e-commerce website.
Content and Code was founded in 2001 by
chief executive officer Tim Wallis and
chief operating officer Craig Beard. Its
sales have risen 89% a year from 953,000
in 2006 to 6.4m in 2009.

114.24%
217.12%
108.18%

MONEYBOOKERS has developed

technology that enables any business or
consumer with an email address to send
and receive payments online securely and
cost-effectively. The London firm claims
that 14m people use its service and that
60,000 internet merchants, including
eBay and Skype, offer it as a payment
option. The private equity house
Investcorp took a 51% stake in 2007 when
it backed a 105m buyout led by joint
chief executives Martin Ott and Nikolai
Riesenkampff. Sales grew 108% a year
from 4.8m in 2006 to 43m in 2009.

PlantHirer
tHir TORFX
COMTACT

2
13

PlantHirer
tHir TORFX
MEDIA INGENUITY

2
14

Foreign
currency
provider
Online lead
generator

114.24%

PlantHirer
tHir TORFX
365 ITECHNOLOGY

2
15

Foreign
currency
provider
IT services
provider

THIS company provides a range of

services to commercial and government
clients in Britain. It can, for example,
supply data backup and security and can
develop IT infrastructure. The Hampshire
company was founded in 2002 with an
undisclosed amount of start-up capital
from the Southeast Growth Fund and
since 2007 has expanded by making four
acquisitions. It has some 1,500 customers,
including Jimmy Choo and JoJo Maman
Bebe, and says that many of these were
won as a result of referrals from its main
vendors, the technology giants IBM and
Cisco. Sales grew 96% a year from 1.1m
in 2006 to 8m in 2009.

114.24%
217.12%
85.34%

PRISM POWER prevents the lights from

going out by providing its customers with
uninterrupted power supplies and
back-up generators. Its 20 clients operate
mainly in the telecoms, data centre and
financial sectors, and include the New
York Stock Exchange, T-Mobile and TSTT,
the Caribbean telecoms group. Chairman
and managing director Keith Hall
founded the company in 2005 and
oversaw sales growth of 85% a year
from 2.5m in 2006 to 16m in 2009.

Foreign
currency provider
Digital marketing
agency

PlantHirer
tHir TORFX
WIRELESS LOGIC

2
25

Sector breakdown of Tech Track 100

Electronics and microchips
2%

PlantHirer
tHir TORFX
SKYSCANNER.NET
Internet and
network services
15%

Other
4%
Telecoms software
5%

Digital media and

entertainment
14%

Management
software
5%

Other software
11%

E-business software
7%

Telecoms services
10%

Financial software
8%

PlantHirer
tHir TORFX
ENDAVA

2
17

Producing software that helps

companies become more efficient:
Datanomics Jonathan Pell,
Ian Clubb and Steve Tuck

Outsourced computer services

16%

Health
3%

114.24%
217.12%
96.22%

Foreign
currencymaker
provider
Power systems

114.24%
217.12%
79.77%

GREENLIGHT develops search-engine

marketing software that sends internet
queries to the websites of its clients,
including Santander, Vodafone, New
Look and Interflora. The fast-growing
online advertising market has boosted
growth at the London company, which
has expanded to operate in 20 languages,
including Mandarin, Japanese, Urdu and
Arabic. Founded by chief executive
Warren Cowan in 2001, Greenlight is now
focusing on ways of helping its clients
exploit social media sites such as Twitter
and Facebook. Sales grew 80% a year from
2.7m in 2006 to 15.7m in 2009.

217.12%
99.92%

MEDIA INGENUITY is an online

marketing and technology company that
connects financial institutions with a
large number of customers. Its
technology generates leads for mortgages,
credit cards, insurance and other
financial products. Founded in 2006
by directors Will Becker and Jonathan
Hassid, the London company also owns
Totallymoney.com, a price-comparison
website that it claims is used by 1m
people a month. Sales grew 100% a year
from 822,000 in 2006 to 6.6m in 2009.

2
23

2
24

217.12%
105.78%

THE likes of Swift Cover, Royal Bank of

Scotland and the retailer Space:NK turn
to Comtact for managed IT and
communications services such as hosted
applications and disaster recovery. The
company was founded in 2005 and is
based in London. It also has offices in
Stoke-on-Trent and Weybridge and is
looking to expand into the Midlands,
northern England and overseas.
Under Dominic List, founder and
chief executive, sales rose 106% a year
from an annualised 588,000 in 2006
to 5.1m in 2009.

PlantHirer
tHir TORFX
PRISM POWER

PlantHirer
tHir TORFX
GREENLIGHT

114.24%

Foreign
Managedcurrency
servicesprovider
provider

League, football clubs, publishers and

online bookmakers such as Bet365. Under
joint chief executives Oliver Slipper and
Simon Denyer, sales at the company
rose 86% a year from 7.6m in 2006 to
48.4m in 2009.

114.24%

Foreign
currency
provider
IT services
provider

PlantHirer
tHir TORFX
REACH-DATA

2
19

217.12%
95.29%

THIS IT services provider has recently

expanded its digital media division,
which now accounts for 25% of turnover.
Endava is involved in the design, creation
and management of IT infrastructure.
The company recently helped
Manchester United to rebuild its website,
which it claims is one of the worlds most
visited football club websites. Endava was
founded in 2000 and is based in London,
with offices in Romania and New York. It
is led by chief executive John Cotterell.
Sales rose 95% a year from an annualised
2.7m in 2006 to 20.4m in 2009.

Foreign
currency
provider
SMS services
provider

114.24%
217.12%
89.14%

WHEN a bank wants to send text

messages to customers to alert them to
any unusual activity in their accounts,
it may contact Reach-Data first. The
London company provides mobile
messaging and wireless technology
services by teaming up with British
mobile-phone operators. It collects a fee
for each message and has seen sales grow
after a recent surge in demand for bulk
messaging services. Reach-Data was
founded in 2002 by chief executive Grant
Romain. Its sales grew 89% a year from
1.5m in 2006 to 9.9m in 2009.

2
21

114.24%

Foreign
currency
provider
Cheap flights
search
engine 217.12%
86.61%

SKYSCANNER.NET operates a
cheap-flights search engine that, it
claims, compares prices on 670,000 routes
flown by more than 600 airlines. It also
offers price-comparison services for car
hire, hotels and holidays. The Edinburgh
company says that 10m people visit its
website every month to look for deals.
Its clients include British Airways,
Air France, Lufthansa and Easyjet.
Gareth Williams, Barry Smith and
Bonamy Grimes founded the business
in 2001. Scottish Equity Partners, a
venture-capital firm, invested 2.5m
of growth capital in 2007. Sales at
Skyscanner.net have risen 87% a year
from 1.4m in 2007 to 8.8m in 2010.

PlantHirer
tHir TORFX
PERFORM

2
22

Foreign
currency
provider
Sports media
provider

114.24%
217.12%
85.63%

THIS London company claims it

broadcasts and distributes more than
17,000 live sports events online each year.
Perform was founded in 2000 as Premium
TV, the sports subsidiary of NTL, which is
now owned by Virgin Media. In 2007 the
Russian billionaire Len Blavatnik
acquired Premium TV for 25m and
merged it with Inform, a digital sports
rights agency, to create Perform. Its
clients include the Barclays Premier

Charity website
picks up pace to
defy downturn

Foreign
currency
provider
Connectivity
developer

114.24%
217.12%
77.61%

VEHICLE fleet managers and

motorway-sign manufacturers are among
those who use the connectivity platform
developed by this Buckinghamshire
company. It allows machines to
communicate with each other through
Sim cards similar to those found in
mobile phones. Managing director
Oliver Tucker and sales director Phil Cole
founded the company in 1999 when a
group of business angels provided some
start-up funding. The company was then
backed by Peter Jones of Dragons Den
fame and was part of his Phones
International Group between 2003 and
2009 before it became a separate entity.
Sales have grown 78% a year from 1.5m
in 2007 to 8.2m in 2010.

PlantHirer
tHir TORFX
COMET SOLUTIONS 114.24%

2
26

Foreign
currency provider
IT consultancy

217.12%
71.56%

THIS consultancy advises large

businesses on software services that
help them to make better decisions and
improve their marketing. Managing
director Ian Hopkinson founded the
company in 2006 and initially sold
software services produced by Chordiant,
a Californian developer. The company has
since diversified to cover products from
software developers Unica and SAS. It has
no headquarters in Britain, but its 40
consultants work onsite for its clients,
which include BSkyB, Orange and
Vodafone. Sales at the company have
grown 72% a year from 1.3m in 2007 to
6.8m in 2010.

PlantHirer
tHir TORFX
114.24%
CLINTEC INTERNATIONAL

2
27

Foreign
Clinical currency
researcherprovider

217.12%
70.14%

CLINTEC does clinical research for

pharmaceutical and biotech companies,
including Pfizer and Glaxo Smith Kline.

Its current projects include research on

how fasting affects diabetic patients,
and how the spine responds to surgery.
The Glasgow company has offices in
40 countries and recently opened one in
New York. In August it raised 8m from
Elephant Capital to fund expansion in
India. President and chief executive
Rabinder Buttar founded the company
in 1997 and oversaw sales growth of
70% a year from 2.3m in 2006 to 11.4m
in 2009.

PlantHirer
tHir TORFX
QICOMM

2
28

model and took an inflexible

approach to lending, according
to Neil Bannister, its chief
financial officer. The companys goal to help fundraisers and charities bring in
cash rather than to make
money for investors means
that profits are re-invested in
the business.
However, last month Barclays Corporate was pleased to
agree a 2.5m loan to support
the firms expansion plans.
Sam Kemp, relationship
director on the TMT team at Barclays Corporate, has developed
a deep understanding of the
business during his five-year
relationship with Just Giving,
allowing us to understand its
processes and look beyond the
companys unusual ethos to
find a firm with a strong management team, a robust cashflow and excellent growth pros-

pects. As the brand has become

established, turnover has
grown 41% a year from 4m in
2006 to 11.1m in 2009. Last
year, profits before tax were
2.3m, all of which will be reinvested in the business.
Our relationship with
Just Giving dates from 2005
when the firms innovative
approach began to win acceptance among charities that were
using the internet to raise
money. At this time the
volume of transactions and settlement risk was disproportionally high for a business of its
size, so an understanding of its
processes was critical in developing the early relationship
between bank and client. This,
combined with a consistent
record of performance and a frequent flow of information, has
cemented a strong partnership.
Just Giving is one of many

PlantHirer
tHir TORFX
TOUCH LOCAL

2
29

donation goes straight to the

charities within days of being
made, bringing them huge
cashflow benefits. Just Giving
then reclaims Gift Aid on
behalf of each charity and
deducts its fees from the sum.
So, for every 10 taxpayers
donate through the website,
charities receive 11.92 after
adding Gift Aid and deducting
all fees, charges and Vat.
As a result, JustGiving has to
bear considerable negative

cashflows because it has to pay

for credit-card transactions
before it receives the Gift Aid
from which fees are taken.
By 2005 it was clear that the
huge volume of transactions
taking place at the time of the
London marathon now one
of the worlds largest annual
fundraising events was
putting a strain on cashflow.
Just Givings original bank
was unable to provide working
capital because it would only

Foreign
currency provider
Online marketer

114.24%
217.12%
62.59%

TOUCHLOCAL sells internet advertising

services to businesses such as AOL and
Ask.com. The London company offers
free listings, but customers can pay an
annual subscription for priority spaces.
It recently added video advertising to
its website, allowing companies to
demonstrate their products and services.
TouchLocal was founded in 1994 and is
run by chief executive Mark Livingstone,
who joined in 2006, having previously
co-founded Lovefilm.com (No 51 in this
league table). Balderton Capital invested
7m of growth capital in 2006. Sales
grew 63% a year from 2.3m in 2006
to 9.7m in 2009, when the company
made a significant loss.

PlantHirer
tHir TORFX
TRAFFIC JUNCTION 114.24%

2
30

Foreign
currency provider
Online marketer

217.12%
62.49%

THIS company claims that many global

brands turn to it to direct internet
searches towards their websites. Traffic
Junction has developed software that sifts
through words and phrases keyed into
search engines such as Google, Yahoo and
Bing. If a customer it directs to a website
completes a sale, it takes a percentage of
the revenue. Managing director
Michael Edwards and operations director
Ben Flux founded the Hertford company
in 2001 and now have 40 staff. Sales rose
63% a year from 2.4m in 2006 to 10.2m
in 2009.

PlantHirer
tHir TORFX
BET365

2
31

Foreign
currency provider
Online bookmaker

114.24%
217.12%
62.20%

FOUNDED in 1974 as a high-street

bookmaker, Bet365 has operated
exclusively online since 2005. Owned and
run by the Coates family, it has developed
its own betting software. It operates in 17
languages and 28 currencies. Sports bets
can be placed before a match starts or
even during play. Customers can also bet
on movements in the financial markets
and play poker, bingo and roulette.
The company is based in Stoke-on-Trent
and also owns Stoke City Football Club.
Sales of the combined organisation have
grown 62% a year from 97.9m in 2007 to
418m in 2010. Bet365 has the biggest
profits in the league table at 101m.

Good run: 42% of the 50.6m

raised by this years
London marathon was donated
through the Just Giving website

expanding technology businesses that Barclays Corporate

is backing. We are prepared to
consider a loan against cashflow, instead of securing the
debt against property or other
assets, when companies have a
proven track record, a healthy
order book and a strong market
position.
Just Givings revenue comes
from charging charities a 5%
fee on donations that are made
through the site. The entire

114.24%
217.12%
63.65%

THIS firm provides infrastructure and

systems integration for telecoms and
internet companies. Its customers
include BT, the Ministry of Defence and
various overseas telecoms providers such
as Globacom in Nigeria. Qicomms future
plans include establishing a data centre
in Londons Docklands to serve internet
and telecoms providers; becoming a
virtual mobile network operator; and
further expanding its business into
Africa. The Middlesex company was
founded with business-angel investment
in 2005 and has since expanded
organically. Its sales increased 64% a year
from an annualised 15.8m in 2006 to
69m in 2009.

Strong cashflow, solid growth and

good management are the key
to securing bank finance, says
Sean Duffy of Barclays Corporate
his year, more than
21m of the 50.6m
raised by participants in the Virgin
London Marathon
was donated through
Just Giving, the fast-growing
fundraising website.
It is replacing paper forms
as the way to pledge money
to thousands of good causes,
ranging from Red Nose Day to
the recent disasters in Haiti
and Pakistan. The companys
software not only helps users to
build a personal fundraising
page, it also reclaims Gift Aid
from the government on behalf
of charities. In the nine years
since its launch, the company,
at No 82 in this years Tech
Track 100, says it has helped
12m people give 820m to more
than 12,000 good causes.
Some banks were wary of
Just Givings social business

Foreign
Telecomcurrency
servicesprovider
provider

make loans when a companys

outstanding payments were
spread among a large number
of organisations, reducing the
risk of default.
But Barclays Corporate
understood there could be no
more reliable debtor than HM
Revenue & Customs, so we
were happy to step in with a
short-term overdraft facility,
which is vital to the success of
the business.
Since then, we have built a

strong relationship with the

company, which has a diverse
range of charity clients and a
high volume of transactions
flowing through a secure and
user-friendly website. The
firms operational systems are
robust and scaleable, and its
bespoke software and established market position create
high barriers for potential competitors. We have been impressed with the management, led
by co-founder Zarine Kharas,
and with her plans to take the
business to new territories.
Looking ahead, Just Giving
will consolidate its recent
expansion after securing fresh
growth capital. Earlier this year
the company moved to larger
offices in London to accommodate a workforce that has
grown from 42 to 60 over the
past nine months.
The expanding technology
team is developing new products, including an improved
website, Facebook and iPhone
apps for fundraisers, and
online facilities that will enable
smaller charities to receive regular income.
In April the company signed
a licensing deal with a Japanese firm, and later this year it
expects to add outposts in Denmark, the Netherlands and
Canada. There is already a First
Giving operation in America.
Barclays Corporate has always taken a prudent approach
to lending. But with a visible
income stream and a proven
model, ambitious technology
companies such as Just Giving
and others in the Tech Track
100 can still find the funds they
need to grow.
n Sean Duffy, head of technology
media and telecoms at Barclays
Corporate Bank, and Neil Bannister, chief financial officer at
Just Giving, spoke to Catherine
Wheatley.

Group MD Mr. Vijay Eswaran and AMD Padman Senathiraja with Ronaldinho

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@:NEGD?:8IH

Mr. Bernie Mayer, Chairman of GOLDQUEST and Trustee of RYTHM Foundation,

with Ms. Wita Dahlan, Corporate Communications Manager of QUESTNET
Indonesia, with kids from 'MTSN Lamgugop, Banda Aceh' preliminary school (7-12
years of age). From 238 students before the tsunami, only 150 kids returned after
the tragedy.

Group MD Mr. Vijay Eswaran honouring Pope John Paul

QuestNet and World Vision

The recent announcement of QuestNets two-year partnership with World Vision has attracted numerous online and offline media attention. The twoyear sponsorship programme is the most far-reaching global initiative in QuestNet and World Vision history.
QuestNet has gathered some of the selected few media coverage on the momentous partnership with World Vision, check it out yourself (below).
You can also read the most current online media coverage from The Standard, Hong Kong, titled Birthday Gift for Young by clicking here.

To celebrate its 11th birthday, marketing company QuestNet has donated US$110,000 (HK$858,000) to World Vision International to help povertystricken children in 11 countries and regions, including Hong Kong.

The sponsorship will be tailored to meet the individual needs of 11 Hong Kong children over two years.

Non-government organizations are invited to submit a three-page proposal and budget on ways to help children, including enhancing their educational
opportunities, health and extracurricular activities, leadership skills and participation in the community.

Submissions end on November 30. Contact Vanessa Liu, head of operations of rythm Foundation, at 2263-9308 or vanessa.liu@rythmgroup.com for more
details.

Headline
Date
MediaTitle
Section
Journalist
Frequency
Circ / Read

Bernama

Qi group poised to chalk up US$lb sales

08 Sep 2010
New Straits Times
Business Times
N/A
Daily
136,530 / 330,000

Language
Page No
Article Size
Color
ADValue
PRValue

English
B9
2
259 cm
Black/white
3,586
10,758

Qi group poised
to chalk up
US lb sales
guably the largest privately
THE Qi group of companies an held telecommunications com
e commerce conglomerate pany with a 17 year back
with footprints in 180 coun ground
tries is confident that sales can
With a purchase price tag of
breach the US 1 billion
about 16 million RM76 8 mil
RM3 12 billion mark this
lion and 8 million RM38 4
year up from US 900 million million invested in it to date

RM2 8 billion currently

Its founder and executive UK Networks already broke

even for the group two years
chairman Datuk Vijay Eswaran
ago Vijay said
based his optimism on Qi s net
It operates an entire switch
work marketing increasing
ing
network providing a full
sales and geographical expan
array of telecommunications
sion
We are in the business of

doing business and if it s prof

itable we will do it

services

The main technical hub is

he said in located in Adier Street

Lon

don with the staff in the city s

suburbs in Hampton in a clas
Qi has embarked on various sic World War Two building
acquisitions expanded opera known as the Network

an interview in Petaling Jaya

Selangor

tions worldwide and even listed

a telecommunications unit in
the UK

House

We have spent quite a bit to

turn it around rebuilt the in

Describing his company as a frastructure and it is back on

department store online using its feet heading towards what

e commerce and with the In we feel will be bur first listing in
ternet as its main business

the UK

thrust Vijay said Qi delivers its

diverse range of products and

munications to remain at the

services to customers world

wide

It has grown into a multi

national conglomerate with six
key business lines telecommu
nications lifestyle and leisure
luxury and collectibles train
ing and conference manage
ment property development
and a global retail and direct
sales business

Sweden Iceland Norway

as well as Portugal and Spain
are our fastest growing mar
kets

while Finland was our

first beachhead in Europe We

are now in the UK in a pretty

big way
Vijay said Qi was planning to
list UK Networks now known
as Qi Communications on Lon

don s FTSE possibly in the next

18 to 24 months if the company
can forward a good enough list
ing proposal to the British au
thorities

He said UK Networks pur

chased five years ago was ar

Listing will enable Qi Com

top of the niche market and
compete with the big boys
Vijay said

QuestNet Business
reaches the New
Heights!
-

VC Michael Ferreira
India

V-Council Michael Ferreira is already a World champion and Guiness book

record holder in Billiards.He is been awarded with ARJUNA
award,DRONACHARYA award and PADMABHUSHAN by Govt.OF INDIA

14

QNEWS

20

FEATURE