Tech companies are growing faster than ever
The Tech industry has shown resilience to crises and even flourished during the recent pandemic (Zoom and Miro users, anyone?).
In parallel, Venture Capital investments have hit an all time high across the globe.
All this combined can only mean one thing: Tech firms are hiring, and they are hiring fast.
We took a closer look at the 10 tech scale-ups which are currently growing the fastest and unveiled interesting insights about their talent base and hiring strategies.
The top 10 fastest growing tech scale-ups
For this analysis we included companies with over 400 employees, in the Tech industry, that have shown the highest percentage growth of total employees in the last 12 months.
The top 10
*ranked based on percentage growth of total employees in the past year
All companies show exponential growth curves of their workforce.
Interestingly, Getir appears as an outlier, recently outweighing a competitor that’s on top of this list: Gorillas.
When we look at the combined workforces of these companies we see a strong emphasis on roles in engineering, operations and sales which together account for 60% of the total workforce.
These companies each have unique growth trajectories and distinctive workforces.
Let’s dive in!
Growth in total headcount last year: 8792%
Gorillas is a growth story of its own. For many of us this startup came out of the blue and all of a sudden was everywhere. With three funding rounds totalling $335M and strong organic growth, they expanded the 10-minute grocery delivery business across Europe. Some are questioning the consequences of hypergrowth on the culture and employee wellbeing. But everyone is watching Gorillas’ hunger for faster bananas on the customer’s doorstep.
Growth in total headcount last year: 412%
Hopin is one of the examples of tech firms that got a boost from the consequences of covid. The event technology platform is now a $7.75 billion business. You don’t have to think too long about where the majority of the cash is spent. This tech-heavy value proposition requires a true army of engineers, who account for over 30% of Hopin’s total workforce! (data source).
Growth in total headcount last year: 204%
This US-based revenue intelligence company has been growing rapidly since the recent capital injections. Half of their workforce is employed in Sales (data source). So you could say this sales-enablement company is truly putting their money where their mouth is. Gong also has an interesting hiring policy, with an initiative to train and hire underrepresented groups in customer success roles (in collaboration with FlockJay).
Growth in total headcount last year: 182%
Id.me is a digital identity company making online access safer and more convenient. Even though this unicorn is growing fast, it did not trim down on the quality of hires. CEO Blake Hall stated in a technical.ly article that they are ‘very deliberate about screening for the intellectual capacity for a given job’ and have a ‘structured interview process that evaluates personality and behaviours against company values’.
Growth in total headcount last year: 177%
Mural almost doubled its rate of hiring in Q1 2021 vs. the end of 2020. And with their $50 million Series C round in July, Mural is up for a nice little competition with Miro and other visual collaboration tools.
Growth in total headcount last year: 165%
Ranking high on the Forbes Best Startup Employers List 2021, PandaDoc is recognized as an attractive employer for tech talent. Next to that they are one of the Inc best workplaces 2021 and they score a 4.8 on Glassdoor. A proof that fast-growing startups can still take real good care of their employees.
Growth in total headcount last year: 162%
Another 10-minute grocery delivery startup expanding their team with outrageous speed. Getir is by far the biggest company in this list in terms of employees. Some argue that the quick-commerce industry is overhyped … We’re curious to find out how the upcoming years will unfold!
Growth in total headcount last year: 162%
With $80 million bagged last May, Handshake can further grow their career and networking platform for graduates. Handshake is emphasizing its mission to serve the underrepresented job-seeking student by promoting diversity on the platform.
Growth in total headcount last year: 159%
As a publicly-traded company spun off from Verint, Cognyte is a unique situation amongst the startups in this list. The high percentage growth in the last year is primarily due to the spin off from Verint that was finalized beginning this year. The purpose of spinning off Cognyte as a separate company from Verint was to have a company dedicated to building and selling software. That is indeed reflected in a talent base dominated by engineering roles, which make up 30% of the total workforce (data source).
Growth in total headcount last year: 154%
TuSimple is the first company providing an autonomous truck software stack that went public. After the $1.1B IPO the company went on a hiring spree to expand the team. TuSimple is expected to grow rapidly with the available capital and its expansion plans. With an overwhelming 42% of the workforce in engineering this is one of the most tech-heavy companies in the list (data source).