ID-Pal ranked number six in the 2022 Deloitte Technology Fast 50 Awards, a ranking of the 50 fastest growing technology companies in Ireland. Rankings are based on average percentage revenue growth over four years.
ID-Pal CEO and Founder, Colum Lyons, credits a relentless pursuit of a seamless user experience, accuracy in identity verification results and excellence in security standards as having contributed to the company’s growth over the past four years.
On being ranked in sixth position in the Deloitte Technology Fast 50 Awards, Lyons shares: “It seems like just a year ago we were registering our business name. The work everyone has contributed since the early days of ID-Pal as a start-up to now, we’re seeing the results come together when you steadily build an identity verification solution that focuses on user experience, security and convenience for our customers. Also working with incredible strategic partners who share our vision adds to this. We’re truly honoured to be placed in sixth position in such a prestigious ranking and I’m confident we can best that in 2023.”
The Deloitte Technology Fast 50 Awards is one of Ireland’s foremost technology award programmes. It is a ranking of the country's 50 fastest-growing technology companies based on revenue growth over a four-year period, and this year marks 23 years of the programme celebrating innovation and entrepreneurship in Ireland’s indigenous technology sector.
ID-Pal’s lofty ranking is well-earned after a year of significant commercial success. Following a successful Series A funding round in July and an official launch into the UK market, it’s technology was recently certified for the UK Digital Identity & Attributes Trust Framework (UKDIATF). The team has doubled in size in 2022, with 15% of the workforce based in the UK. Customers include One4all, Elavon, Trident Trust, BDO, American National University, and the J.P. Morgan-acquired Global Shares. Along with a host of strategic partnerships with market-leaders like HID Global, RiskScreen, Sherpa Technologies, and Vesta, confirms it making the top ten in the Deloitte Fast50 for 2022.
Cumulatively, the 2022 Fast 50 winners generated approximately €500m in total annual revenues and employed over 5,500 people in 2021. The average revenue of companies featured in the ranking was approximately €10 million, while the average growth rate of the companies over the last four years was 594%. There was also an increase in the number of female CEOs in the ranking with seven organisations led by females making the list.
Announcing the winners of the Deloitte Technology Fast 50 programme,
David Shanahan, Partner, Deloitte said: “Congratulations to all of the companies that ranked this year. As the business environment becomes more complex, the Irish technology sector has shown great resilience and tenacity. This year’s ranking shows growth across a broad range of sectors with companies coming up with innovative solutions to address changing consumer and business demands while faced with adversity. It’s also encouraging to see so many new entrants, including seven in the top ten. Despite the challenges of late, the Irish indigenous tech sector continues to succeed.”
The Deloitte Technology Fast 50 ranking features both private and public listed technology companies that have demonstrated innovative strategies, sound management practices and marketplace vision, driving them to achieve the status of high-growth leaders. Full details on the winners can be found at www.fast50.ie.