Independent technology consultancy Opencast has been confirmed as one of the UK’s fastest-growing companies.
Consistently recognised as one of the North East’s most rapidly expanding businesses, Opencast has now been placed 75th in the 2024 edition of The Sunday Times 100 – the prestigious annual ranking of Britain’s fastest-growing private companies. Opencast is one of only three North East businesses to make the list.
The Sunday Times 100 league table takes on the baton from The Sunday Times Fast Track 100 series, which celebrated the country’s leading entrepreneurs for 24 years. To be eligible for the 100, companies need to be independent, privately owned and UK headquartered, and have sales exceeding £5 million.
Richard Tyler, Founding Editor of The Sunday Times 100, explained: “The pace of growth required to secure a place on the league table has shot up this year, so Opencast should be particularly proud of its achievements in what have remained challenging trading conditions.”
Opencast was founded in Newcastle in 2012 and has since grown to nearly 500 people. It remains headquartered in Byker, with city hub offices including in London, Edinburgh and Glasgow. The company was recognised earlier this year as the fastest-growing large tech business in the Northern Tech Awards, and has won two consecutive Dynamites ‘growth explosion’ awards for scaling North East businesses.
Welcoming Opencast’s inclusion on the Sunday Times 100 list for the first time, Chief Executive Tom Lawson said: “To be ranked at 75 in this prestigious list is a reflection of our rapid growth and expansion from our North East base to become a UK-wide business. Over the past three years we’ve been able to report an average growth rate of 76.25%.”
Tom, a Harvard Business School graduate who has led Opencast since 2020, added: “Over the past year we have scaled rapidly, with revenues up from £37 million to £50 million. This year we’re growing further, targeting revenues of £60 million. Our work with clients in government and business focuses on improving their digital experience and operational performance, supporting critical systems and services used by millions of people.”
“Our success is not just about our revenue and people numbers. It also lies in the impact of our work on our people, our clients and wider society. It is a result of a huge team effort and I could not be prouder of our team.”
Tom added: “We’re on a journey to recognition as a purpose-driven B Corp, but also ensure that everyone on our team has a stake in our success through an employee equity share scheme. It’s important that our culture shapes our services, but we must also acknowledge our amazing clients who have given us big and complex projects to deliver. There is much more to come.”
Opencast’s Founder and Chair Charlie Hoult added: “It’s great to fly the flag for North East England in this ranking, as our region is often under-represented in national schemes.
“We’re determined to prove the levelling-up mantra that ‘expertise is everywhere, opportunity is not’ – drawing our inspiring team from people across the UK and beyond. We have hubs of talented colleagues in major cities, and are fully hybrid onshore.”
About Opencast
Opencast is an independent and privately owned full-service UK technology consultancy specialising in designing, building and running user-centred digital and technology solutions. Bringing together expertise in digital human experience, technology optimised operations, innovation and emerging technology and data driven insights.
Opencast works with UK public sector bodies, healthcare organisations and businesses to develop services that include support for critical national infrastructure and help for millions of citizens.
Sunday Times 100
To read the full Sunday Times 100 list for 2024, visit www.thetimes.com/sunday-times-100-fast-growth. For further information, please contact Julian Blake on 07767 266476 or email julian.blake@opencastsoftware.com.
Photo caption: Opencast Founder and Chair, Charlie Hoult (left) with Chief Executive, Tom Lawson.
