Montu Group has been named by Deloitte as the country’s fastest-growing technology company and by the Australian Financial Review (AFR) as the fifth fastest-growing start-up.
Cannatrek came sixth in the Deloitte list and 23rd in the AFR’s.
The Deloitte Technology Fast 50 ranks the 50 fastest-growing public and private technology companies in the country based on minimum cumulative revenues of A$8 million over three years.
Montu took out first place, growing by a massive 20,728% over the three years to 2022 – the fastest growth of any tech company that has made the list since 2004.
Cannatrek’s growth of 2,990% saw it comfortably into the top 10 at number six.
The AFR’s Fast Starters 100 list recognises the growth of Australian companies which started trading on or after July 1, 2017, and recorded at least $500k of revenue in FY22.
The list is ranked by compound annual growth rate (CAGR) of revenue over the previous three financial years, the majority of which must have been generated organically from more than one customer.
Montu’s CAGR for FY20-22 was 1,343%, with revenue climbing from A$100k to $21.65m in the period. Cannatrek’s CAGR was 456%, with revenue up from $1.36m in FY20 to $41.91m in FY22.
Montu completed a record-breaking crowdfunding equity raise in late 2021, and expanded its Circuit platform to provide patients with clearer oversight of their treatment plan earlier this year.
Montu managing director Christopher Strauch said: “It’s an honour to be awarded first place as the fastest growing tech company and see us make a difference in the healthcare space. Especially as it’s a very new area and many people still don’t know medicinal cannabis is legal in Australia.
“We have had first-hand experience in seeing the difference we have made since 2019 after helping tens of thousands of patients across Australia. It’s been an amazing ride, and we are very grateful to be in this position to help so many.
“We want to thank our patients who have been with us from the early days and trusted us to put their health in our hands.”
Cannatrek founder and CEO Tommy Huppert said: “It is remarkable for us to receive this kind of recognition from outside our industry. We are thrilled to be recognised for our growth and to be counted as one of the country’s leading tech innovators.”
Meanwhile, Little Green Pharma has taken out the International Health gong at the 2022 Western Australian Export Awards. The awards recognise WA businesses that have achieved consistent export growth.