Our fastest growing tech companies according to Deloitte

A startup creating clever technology to gather the cows for milking is our fastest-growing tech company of 2024 according to the newly published Deloitte Fast 50 Index.

Halter, which makes virtual fencing and pasture management software and matching collars that hang around the necks of cows, achieved growth of 1539% this year. That was on the back of a $85 million series C capital raise last year, a rate highlight in an otherwise challenging climate for startups seeking to attract serious cash.

As well as virtually fencing in cows and nudging them remotely to switch paddocks, Halter also monitors cow health via the collar.

It was crowned the fastest-growing company ahead of energy sector software company OLT which grew 1237% A decidedly non–techy group of companies rounded out the top five, including Pact Steel (751%), Franklin Hospital (477%) and Fortis Travel and Events (447%).

From software to IT consulting

A total of 13 tech-related companies featured in the Deloitte Fast 50 this year, showing the ongoing strength of the growth opportunities in the tech space. Included also were two tech recruitment firms, suggesting there are pockets of strong growth even within the subdued jobs market.

Deloitte Private Partner and Fast 50 lead, James Arlidge, says New Zealand’s pioneering spirit and reputation for pushing the boundaries across a variety of sectors remains strong despite current economic challenges.

“The growth this year’s Fast 50 businesses have achieved over the past three years is a tribute to their agility, innovation and self-belief,” says Arlidge.

Tech firms featured in the Deloitte Fast 50

Source: 2024 Deloitte Fast 50

Deloitte Fast 50 criteria

The Fast 50 index is determined by revenue growth percentage over the last three years. To be

eligible, 2024 entrants were required to meet the following criteria:

• be a New Zealand registered business, trading for a minimum of three years

• have revenue of $1 million or above in FY22

• submit independently prepared financial statements for FY22 and FY24; and

• supply export revenue for FY22 and FY24 (if applicable)