The growth rates of fast growing Australian IT and digital services providers have been revealed at the 2024 CRN Australia Fast50 award ceremony in Sydney, attended by Australia’s IT and digital services community.
Celebrating its 16th year, the CRN Fast50 recognises the fast-growing IT and digital services providers in Australia, based on year-on-year revenue growth. See the 2024 Fast50 companies and photos from the 2024 CRN Fast50 awards dinner.
The 2024 CRN Fast50 is sponsored by ConnectWise, Dicker Data, Huntress, Ingram Micro, Juniper Networks, Macquarie Bank, Pia, Westcon and World of Workflows.
This year’s Fast50 growth rates reflected a challenging FY24. Average growth for the group was 59 percent, down from 79 percent for the 2023 Fast50.
Minimum revenue growth to earn a place on this year's Fast50 was 12.7 percent, compared to 36 percent in 2023.
Total revenue of companies in the 2024 Fast50 in FY24 was $750.4 million.
Eight companies reported more than $20 million in revenue, with four earning more than $50 million.
Virtual IT Group was awarded the Fast50 Leader Award for the highest revenue of the group, reporting $89.3 million in revenue and 37 percent revenue growth.
The Resilience Award, which recognise the company with the best Fast50 performance over the last three years, went to Tamworth-based Toim Technology.
Revenue was only part of the story. The group provided a snapshot of how the technology channel is evolving. For example, the partner with the fastest growth, 365mesh, is an IoT integrator that sells its own software platform direct to end use organisations and through fellow channel partners. It grew revenue 336 percent to $4.4 million in FY24, the fastest growth rate in this year’s Fast50.
This year also saw the second consecutive appearance of Canberra-based cybersecurity firm CBR Cyber, which grew revenue 256 percent to $54.9 million. It recently launched a cyber assurance unit and listed Juniper as its number one vendor in FY24.
The rest of the Fast50 included managed services providers, analytics specialists, digital consultants, a Salesforce partner, a ServiceNow partner, integrators, an AV integrator, Microsoft Biz Apps specialists, cloud partners and an OT security specialist.
Here is the 2024 Fast50, ranked by revenue growth:
1 - 365mesh
2 - CBR Cyber
3 - OneKloudX
4 - The Business Experience Australia
5 - Tanto Security
6 - ITKnocks
7 - Intrepid Solutions
8 - Meet Better
9 - iCatalyst
10 - Baidam
11 - Kyte Consulting
12 – Superware.ai
13 - Accelerate IT Solutions
14 - D6 Consulting
15 - Astralas
16 - Sauce Consulting
17 - Databox Solutions
18 - Teamwork Technology
19 - Ever Nimble
20 - Increment
21 - Platinum Technology
22 - Queensland Computers
23 - Lanter Technologies
24 – Catalytic IT
25 - Secolve
26 - Infotrust
27 - Arinco
28 - The Factor
29 - Lateral Plains
30 - Cloud4x Enterprise Systems
31 - Virtual IT Group
32 - Corp Centre
33 - Fuse Technology
34 - ONGC
35 - RKDN
36 - Kaine Mathrick Tech
37 - Dulili Solutions
38 - GKM2 Solutions
39 - Toim Technology
40 - USEZER
41 - Digital o2
42 - Epic IT
43 - Thomas Peer Solutions
44 - Utilitise IT
45 - RODIN
46 - Blazeclan Technologies
47 - Digital61
48 - OTTO IT
49 - Bi3 Technologies
50 - MTP Services
Read about all the 2024 Fast50 companies and see their FY24 revenue and growth rates.