Learning Pool today announced that it ranked number 24 in the 2012 Deloitte Technology Fast 50, a ranking of the 50 fastest growing technology companies in Ireland. Rankings are based on average percentage revenue growth over five years.
Learning Pool’s co-founder, Paul McElvaney attributed the company’s growth to its ability to recruit well. “We have spent a lot of time in the last five years recruiting and building our team of high performing people. They are the engine behind Learning Pool and the key reason for our continued growth and success now and into the future.
Mary McKenna, co-founder, says “We’ve managed to innovate well throughout our history and have brought several first-of-their-kind products to the market. In a period of substantial fiscal tightening our customers are coming back to us again and again to help them make savings and improve their organisations and we see great potential for sustained growth well into the future.”
The Fast 50 programme, now in its thirteenth year in Ireland, ranks the fastest-growing technology companies in the Republic of Ireland and Northern Ireland. This year, there are 15 companies from Northern Ireland in the ranking. The average growth rate of the Fast 50 companies named in this year’s ranking is 556%.
Learning Pool’s growth is particularly impressive considering that the company is 100% founder owned and has grown completely organically over the last six years. Paul McElvaney commented “Growing a bootstrapped start-up without external investment is a real challenge. However, having reached this point in our journey, the future for Learning Pool is incredibly bright with a competitive cost base, well respected brand and products that are fit for purpose for what our customers need. Winning this recognition from Deloitte is a timely endorsement of our strategy of investing for growth in the last five years.”
Announcing the winners of the Technology Fast 50 programme, David Crawford, Partner with Deloitte Belfast said: “Each year, we are considerably enthused by the resilience and tenacity of the indigenous technology sector as they demonstrate high levels of growth amidst challenging economic times.
One of the key drivers of this growth has been their ability to capitalise on international markets. Many companies from across Northern Ireland now have an increased focus on international expansion as a way to drive sustainable growth. The indigenous technology sector has been a trailblazer in this regard – some of our most successful technology companies have long been internationalising their IP and reaping the rewards. It’s encouraging to observe that so many of our Fast 50 winning companies are seeking to exploit both local and global markets to their best advantage.”
The awards took place in the Guinness Storehouse on Friday 16 November. Dr Chris Horn, co-founder and former CEO Iona Technologies, was keynote speaker at the event.
Details of the Deloitte Technology Fast 50 ranking list are available to download at www.fast50.ie.