Two companies in the region are among the 15 fastest-growing UK companies, according to the business and company data analysts, Beauhurst.
The company has tracked 30,000 of the UK’s high-growth and disruptive companies on its searchable, online platform and has used this data to compile a list of the UK’s 15 fastest-growing companies by change in turnover.
Founded in 2011, OXGENE, which had a reported turnover in 2019 of £2.69 million, representing an increase of 165 per cent over the previous year manufactures DNA plasmids – loops of genetic material for use in genetic research and engineering.
The contract research organisation is based in Oxford, and its materials are distributed in the UK, Japan, the United States and other global locations. In 2020, the company raised £3 million, taking the total raised to £20 million, and reported 100% year-on-year revenue growth for its third consecutive year.
Reading-based CloudFactory is also on the list of 15. Founded in 2011, the company had a reported turnover in 2019 of £16 million, representing an increase in turnover over the previous year of 116 per cent.
CloudFactory provides professionally managed remote workforces for companies in the UK and USA. Members of the workforce provided may be from poorer communities: working for CloudFactory provides these employees with the tools to address poverty in their local areas. Globally headquartered in Reading, CloudFactory began with working in Nepal and advanced its mission in Kenya in 2019. It has raised a total of £61 million, £1 million of which was raised over its latest funding round in June 2020.
CloudFactory uses technology to make it easy and affordable for companies to automate and outsource routine back office data work via the cloud. The company provides teams for machine learning, to build training datasets and improve artificial intelligence, and teams for high volume routine data processing tasks.
The UK’s fastest growing companies 2020, according to Beauhurst
10. Capital on Tap
15. Oakmann Inns