Tenzing portfolio companies CitNOW and Converge ranked amongst the UK’s fastest-growing private tech companies
London, 10 September 2018 – UK lower mid-market investor, Tenzing, is delighted to announce that its portfolio companies CitNOW Video Limited (“CitNOW”) and Converge Technology Specialists (“Converge”) have made The Sunday Times Hiscox Tech Track 100 (“Tech Track”) 2018.
Tech Track is an annual league table that ranks Britain’s private tech companies with the fastest-growing sales over the prior three years.
It is rare for a company to be included in Tech Track for three consecutive years and CitNOW has achieved this accolade, underlining its track record of high revenue growth. CitNOW pioneered video in the automotive industry and has grown rapidly to become a global market leader. It ranked 95th in this year’s Tech Track after recording 52% average three year sales growth.
Since backing CitNOW in March 2018, Tenzing has been working closely with Alistair Horsburgh and Geoffrey Page-Morris, CitNOW’s CEO and Exec-Chair, to further accelerate sales growth and develop new products, with specific input from Tenzing’s Entrepreneurs Panel.
Converge is a specialist provider of managed and hosted IT services to the UK legal sector that has a history of strong organic growth. Converge was ranked in 89th place in this year’s Tech Track, with 55% average three year sales growth. This accolade comes after the company was named in the Ward Hadaway Greater Manchester Fastest 50 list for a second consecutive year.
Tenzing backed Converge’s founder-CEO, Nigel Wright, in December 2017 and is supporting the company with new product development, continued investment in sales teams, and with its acquisition and international strategy.