I’m delighted to be able to tell you that last night, Xero was recognized at the TIN100 awards evening as one of the EY Ten Companies to Watch. It celebrates how successful New Zealand technology companies are on the global stage.
The list is made up of the top ten companies with the highest dollar value growth of the country’s 100 largest technology exporters. Revenues for the EY Ten Companies to Watch range from $1B to $14m.
This year, Xero’s been recognized as one of New Zealand’s top three companies with the largest revenue growth (we’re just after Fisher & Paykel Healthcare and Datacom).
Xero has grown incredibly over the past 12 months. We had hit 475,000 paying customers at 31 March last year. The same time this year, we were at 717,000! Not only that, but our operating revenue went up as well: for FY2015, our operating revenue increased 77% to $123.9 million. For FY2016, it increased 67% to $207.1 million.
Xero’s commitment to Wellington & New Zealand shining through
In the Wellington region (where Xero’s headquarters are based), Xero is the second-highest revenue earner this year ahead of companies like Weta Digital, Intergen, and Fronde Systems Group.
Xero has helped the Wellington region nearly double its revenue growth percentage in 2016.
The Wellington-based companies on the list of the country’s 200 largest technology exporters generated over $1.9 billion revenue in their region (15.3% growth) and created more than 1,500 jobs. At Xero alone, we’ve committed to hiring another 50 development jobs in Wellington before Christmas.
New Zealand’s tech sector cracks through the $1b mark
Growth in New Zealand’s technology export sector has broken through the $1 billion mark for the first time, underlining the sector’s escalation as a key driver for New Zealand’s economic growth.
This past year New Zealand’s leading 200 tech exporters continue to grow strongly in size and diversity, increasing revenue by a record 12% over the past year to reach combined revenues of $9.4 billion, according to the 2016 TIN100 Report. Double-digit growth was spread across geographies, market sectors, and company sizes, with the growth also resulting in a record number of new tech sector jobs.
What is the TIN100 Report?
The TIN100 Report is produced by the Technology Investment Network, whose mission is to facilitate the growth of the technology sector in New Zealand. The TIN100 Report monitors the performance of New Zealand’s 200 (TIN100 and Next100) largest technology exporters in the areas of Information and Communication Technology (ICT), High-tech Manufacturing, and Biotechnology.