Deliveroo has topped an annual ranking of the UK’s fastest growing technology companies.
The food delivery specialist heads Deloitte’s 2017 ‘UK Technology Fast 50 winners’ list with a four-year revenue growth of 107,117%, a new record for a company appearing in the chart.
In comparison, the average four-year growth rate recorded for the Deloitte UK Technology Fast 50 companies is 3,756% in the year 2016/17.
Deloitte, which has published the list for the last 20 years, described the growth of the London-based online food courier service as “staggering” and said no other company had ever expanded at a faster rate since it began tracking the market.
David Cobb, lead partner for the Deloitte UK Technology Fast 50 programme, said: “The achievements of this year’s winner are truly remarkable: Deliveroo is now the fastest-growing technology company in the history of the competition. Their relentless growth has justifiably added them to the exclusive list of UK ‘unicorns’. Everyone wants a slice of the online takeaway business, but very few have found success in the same way that Deliveroo has.”
Since being founded in 2013, Deliveroo has been disrupting the food takeaway industry by bringing restaurants closer to customers.
It now operates in 150 cities, employing 27,000 riders, and recently raised $385m (£291m) in new funding.
Dan Warne, general manager UK and Ireland, explained Deliveroo’s approach to technology: “We have always had a clear strategy – it has been a food tech company from the start. Technology is very important for us and it allows us to operate more efficiently, which means faster orders for consumers, higher sales for restaurants and more earning potential for riders. It’s win-win for everyone. Our logistics algorithm is key, and improving all the time to ensure our fantastic offer gets better and better.”
On being competitive, Warne added: “The UK is an exceptional breeding ground for ambitious technology companies – and so there will always be competitors. Our focus is always on our customers, riders and restaurants, making sure we’re delivering on the things that matter to them. That’s the best way of remaining competitive.”
Deliveroo has made a huge investment in kitchen facilities in the UK to support its development, with its ‘Deliveroo Editions’ concept designed to allow restaurant operators to produce menu items off-site.