Newcastle-Headquartered app developer hedgehog lab has scooped a major European award after prolonged growth and investment in cutting-edge technologies.
The ‘post-PC’ digital consultancy triumphed over competition from hundreds of other businesses to be named on the Red Herring Top 100 Europe list, which honours the year’s most promising private technology ventures from the European business region.
The accolade comes following a strong 2016, which saw the firm raise revenues 160%.
This year, hedgehog lab is on track to double turnover, aided by growing interest in the Virtual, Augmented and Mixed Reality services it has been offering since the establishment of its Immersive Technologies division in January.
“It is a true honour to win this award; we have been pleased with our recent growth, but it was a real surprise to be acknowledged at such a high level. We are proud to fly the flag for UK tech – and were delighted to learn we were the only UK company specialising in mobile to make it on to this prestigious list; that, I believe, is a testament to the hard work of our team as well as the dedication of our senior management. We have many exciting projects ahead of us this year and, having invested in expanding our Newcastle HQ, are well placed to bring the best we can offer to our clients. Innovation also remains critical to our vision; we are committed to providing cutting-edge solutions, making use of the latest, most impactful technologies.” — CEO Sarat Pediredla
hedgehog lab was selected for the award from a 200-strong shortlist, compiled after Red Herring reviewed over 1,200 companies in industries ranging from telecommunications to hardware and software.
Nominees were evaluated on 20 quantitative and qualitative criterion, including disruptive impact, market footprint, proof of concept, financial performance, technology innovation, social value and quality of management.
This was complemented by evaluations of track record and standing, allowing Red Herring to see beyond the ‘buzz’ and discover those most likely to grow at an explosive rate.
Winners were selected on the basis of technological innovation, management strength, market size, investor record, customer acquisition and financial health.
“This year was rewarding beyond all expectations. There are many great companies generating really innovative and disruptive products in Europe. We had a very difficult time narrowing the pool and selecting the finalists. We know that the 2017 crop will grow into some amazing companies that are sure to make an impact.” — Alex Vieux, publisher and CEO of Red Herring
Established in 2010 as a ‘post-PC’ technology consultancy, hedgehog lab builds apps for mobile, tablets, wearables and other connected devices.
On top of its North East headquarters, the company also has offices in London, Boston, Austin, Denmark and India.
As well its success with Red Herring, this month also saw it named a finalist in The Drum’s RAR Digital Awards, which are based on client feedback.
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