A North East technology company has been included on a list of Europe’s fastest-growing firms.
Newcastle firm Opencast, which provides digital transformation for Government departments and other organisations, is ranked 365th on the FT1000 list, which brings together fast-growing companies from around Europe.
Rankings are based on compound annual growth rate between 2020 and 2023, with Opencast seeing 76.2% growth over that period, as well as more than tripling its headcount. The company recently released accounts in which its turnover for 2023 came in at £49.9m, and has announced a £32m contract win with the Department for Work and Pensions.
The FT1000 list – which has previously highlighted North East companies including END Clothing, Everflow and hedgehog lab – was topped this year by Menlo Electric, a Polish supplier of photovoltaic panels and inverters, followed by Ƶ fintech company Allica and German advertising business Almedia. More than 100 Ƶ firms are on the list, including chicken chain Wingstop and hot chocolate cafe firm Knoops, both of which have recently opened in Newcastle. The FT1000 list also has strong representation from Germany, France and Italy.
Opencast CEO Tom Lawson said: “To be featured in the FT1000 ranking among companies from across Europe reflects a period that saw our business transform and our people count grow from 117 to 431 in 2023. More than 80% of our people with us today, joined the business during this time.
“Like many businesses, we faced a tough economic and trading environment last year, but we’re starting to see positive signs for 2025 which I hope others are experiencing too. We’re working hard to return to the strong, profitable growth that this ranking recognises, as we see demand return from our key clients and partners, and we help them deliver social impact through better, more inclusive, digital services for all.
“The FT1000 news is testimony to the massive efforts of our whole team to keep us on our sustained growth trajectory, even as the sector has faced tough times. A huge thank you to everyone at Opencast for their role in making us the business we are today, as well as our clients and partners for their continued commitment to working with us.”
Opencast was founded in 2012 by Mike O’Brien and Charlie Hoult. The firm is based at the Hoults Yard business complex in Byker, with offices in London, Edinburgh, Glasgow, Leeds, Birmingham and Manchester.
