iplicit, a Dorset firm out to disrupt the accounting software sector, has been listed among the 50 fastest growing tech companies in the UK.

The business secured 40th place in the annual Deloitte UK Technology Fast 50, which ranks companies by percentage revenue growth over the past three years.

For iplicit, that figure is 742 per cent.

iplicit’s support and marketing teams are based in Poole, with several of its senior leadership local to the area – including CEO Lyndon Stickley and chief financial officer Robert Steele.

“We’ve created something very special here at iplicit,” said Lyndon.

“It’s the culmination of leading-edge technology meeting a seasoned commercial team, along with a tonne of investment and a very large dose of luck!

“We entered the market on the assumption that we could be the salvation for 3,000 disenfranchised Exchequer software sites, but it turned out that we have a product that offers a lifeline to over 90,000 organisations in the UK alone.”

Since launching in 2019, iplicit’s platform now hosts over 2,000 organisations with more than 30,000 daily users.

“Half of our business now comes from very unhappy Sage 50 and Sage 200 users,” Lyndon added.

“We estimate that we’ll secure a significant portion of this market.

“Just a five per cent market share will make us the next tech unicorn, and with the most desirable solution in the market today, there’s no reason we shouldn’t achieve 10 times this amount.”

iplicit remains a privately funded company, with £18.5 million invested by its founding shareholders and management team.

Kiren Asad, lead partner for the Deloitte UK Technology Fast 50 programme, said: “We continue to see the resilience of the UK’s technology sector, demonstrated clearly from the impressive growth among this year’s Fast 50 winners.

“Amid challenging economic conditions, these businesses have navigated their way to growth through tenacity, talent and innovation in what remains a competitive market.

“I’d like to extend my congratulations to all of the winners.

“The 50 fastest growing UK technology companies, as ranked by Deloitte, generated £1.93 billion in total annual revenues in the year 2023/24.

“Being one of the fastest growing technology companies in the UK is an impressive accomplishment.

“We commend iplicit for making the Fast 50 with a phenomenal 742 per cent growth rate over three years.”

The latest awards were announced at a ceremony which brought together founders and C-suite leaders at the Nobu Hotel London Portman Square.

• iplicit.com