With growth of 6,331% over the past three years, Brisbane-based aviation industry pricing software company Monarc Global has been named the Australian winner of Deloitte’s annual Technology Fast 50 for 2021.
Now in its 21st year, the awards measure revenue growth over a three-year period for Australian-owned and based technology companies across a number of sectors, with a minimum revenue of $8 million over the period.
Founded in 2017 by Royce Crown and Monica Zagrodny – the latter who also won the Female Leadership Award – Monarc Global provides aircraft operators with accurate, real-time automated pricing capability through its Travech platform, which supports takes into account factors such as fuel stops, weather predictors, routing and aircraft performance data, among other inputs. Customers can then make their reservation through the operator’s website or through designated partners.
The general category finalists this year were retail media platform CitrusAd, which was co-founded by former Crows player Brad Moran and sold to Publicis for more than $200 million last year, and the nuclear medicine company Telix Pharmaceuticals.
Luxury fashion retail platform Cettire was the fastest growing company for entrants, generating $50 million in 2021, while online mortgage lender Athena was the “star rising”, with a shorter operating period.
As a state and sector split, NSW housed almost half of the entrants claiming 24 places, followed by Victoria with 14 and Queensland which had seven, including half of the top ten and three of the top four. Overall, those operating in the online/direct-to-consumer segment accounted for 30%, software and fintech 16% each, digital/media 14%, communications and health tech each adding 12%. %.
Sydney-based Deloitte partner Josh Tanchel, who leads the Technology Fast 50 program, noted that 2021 has been a record year for growth and nominations, with the list’s threshold exceeding 300%, more than double the ‘last year. A total of fourteen companies achieved over 1000% growth, with the average rising from 435% in 2020 to 936% last year. The debutants also edged out the new entrants four to one.
Tanchel described the soaring numbers as another indicator of how quickly businesses are moving through the power of technology. “In an industry deeply affected by the pandemic, the big winner Monarc Global has shown how innovation and technology can accelerate growth. Again, the Technology Fast 50 is a strong indicator of the current state of the Australian tech sector, its direction and the companies taking us there.
Monarc now hopes to emulate a roll call of recent Australian business success stories that previously topped the Technology Fast 50 list, including Afterpay – sold last year for a record US$29 billion – and Atlassian, which had a capitalization stock market at times last year, exceeding $115 billion.
Other well-known past winners include Seek, Realestate.com.au, RSVP, Red Balloon, Webjet, NextDC, Menulog, Dodo and Vinomofo.