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The 2018 Megabuyte50 awards, honouring the UK’s best-performing, mid-market ICT Services and Software companies, were announced on Tuesday and featured six UK software businesses, currently backed by Hg.

A record for Hg, the six named companies place Hg as the top technology and software investor in the 2018 list, with more portfolio companies featured than any other investor for the second year running.

The companies’ performance is scored using Megabuyte’s proprietary Scorecard benchmarking methodology which assesses companies against seven sustainable growth-related KPIs. Companies are awarded a Scorecard rating (a mark out of 100) and then ranked against their peers.

Access Group, Allocate Software, FE and IRIS all placed in the 50 while Commify (MB profile) and Foundry (MB profile) were also named as ‘Best Performing Company’ in their respective categories (Mobile, Wireless and Satellite and Specialist Applications). All six are application software businesses and represent ‘sweet spot’ characteristics that Hg looks for in all of our investments.

Hg’s team of 50 technology focused investors and operating partners represent the largest and most experienced in Europe, reinforcing Hg’s position as #1 software & tech-enabled services investor across Europe & one of the top 5 globally.

Matthew Brockman, Managing Partner of Hg, said:

“It is fantastic to see the continued success of Foundry, Commify, IRIS and Access, all of whom featured in last year’s list.  It is greater still to see Allocate and FE honoured for the first time. Hg’s portfolio past and present has always been well-represented on the MB50, with recent Hg exits, Sequel and Intelliflo, appearing alongside our current investments. Technology is an attractive and fast-growing sector and the fact that all of our eligible portfolio companies feature this year is a testament to our scale and capability in UK software and tech-enabled services technology.”

About Megabuyte

Megabuyte is an independent research provider servicing the UK’s leading technology sector CXOs, investors and advisers. We deliver expert, independent and strategically actionable insights addressing the financial and corporate affairs of some 600 of the UK’s key public and private technology companies in the ICT Services and Software sectors. A combination of our proprietary content, rigorous analytics and deep domain experience make our research and opinions highly sought after by those seeking incisive and unvarnished intelligence and insights. Our research is available on-line, through subscription or pay-as-you-go, or on a retained or ad-hoc consultancy basis. The megabuyte50 award series identifies the Top 50 best-performing, privately-owned mid-market companies in the UK’s Software and ICT Services sectors.