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Ellie Shearer
15 September 2020
4 minute read

Dominating European venture funding at a massive £1.4 billion, the UK’s technology industry is booming, with no intention to stop any time soon.

We’ve put together our pick of the UK’s top ten tech unicorns and fast-growth startups that are making their breakthrough.

Top 10 UK tech companies

BenevolentAI

With a research facility in Cambridge and additional offices in New York and Belgium, BenevolentAI was founded in 2013 and has since developed medicines for chronic diseases using its artificial intelligence. The startup claims to be the only company in the world with technology that allows the clinical development to be built from the early stages of discovery.

With a total funding amount of £208 million, BenevolentAI has been valued at $2 billion, taking the company to the ranks of the largest pharmaceutical investments.

Blockchain

Backed by the leading investors in Silicon Valley as well as London and Wall Street, Blockchain has spread from headquarters in London to 140 countries during the explosion of the cryptocurrency market.

As one of the top startups to work for according to LinkedIn, Blockchain has developed a great workplace as well as one of the most popular bitcoin platforms with a count of 54 million wallets today (and counting). Since it was founded in 2031, the platform has hosted $620 billion worth of transactions.

Providing an “easy and safe way to access cryptocurrencies”, Blockchain has investments from both Google and Richard Branson, totalling $70 million.

Darktrace

Darktrace is a cybersecurity company that has developed its own artificial intelligence tech that detects and prevents all possible cyber attacks.

Three years after the launch, Darktrace has developed the “first-ever autonomous response technology”, a system built akin to a human immune system, called Darktrace Antigena, that reacts to a cyberattack in real time progress.

Founded in Cambridge in 2013, the startup has rapidly expanded to 44 offices worldwide, with over 1,300 employees. With £173 million of investment across seven rounds of funding, and was valued at $1.25 billion in 2018, which got the company to the unicorn status. It also featured in the UK Technology Fast 50 2019!

Deliveroo

Founded in 2013, Deliveroo has reached unicorn status, and we can’t imagine our lives without the restaurant food-at-your-doorstep service - especially in 2020.

Headquartered in London, the company operates across 12 countries and has over 60 thousand riders on the team. In the last 7 years, it’s partnered with over 80K restaurants.

Deliveroo’s has reached a total of £1.15B in funding with their last investment round led by Amazon who took a 19.6% stake in the company.
The company itself was valued at $2 billion in June 2018 - and its latest funding round in May 2019, saw a $575 million investment from Amazon, for a 19.6% stake in the business.

Elvie

After having launched a smart, app-connected Kegel trainer, Elvie has successfully designed a hands-free, wireless, silent breast pump also controlled with an app. And their latest offering is a smart pelvic floor exerciser.

This femtech raised $42 million in its series B funding, led by IPGL, has seen a whopping 182.65% increase in annual sales over the last three years and was recently featured in Fast Track’s Tech Track 100!

Snyk

Founded in 2015, Snyk’s software enables more than 1.5 million developers worldwide to stay secure.

In September 2020, Snyk secured an additional £154 million in funding, bringing its total funding to £354 million over eight rounds of investment. Snyk’s product has continued to gain momentum throughout 2020, despite the pandemic. Back in January 2020, it was valued over $1 billion. Now, its valuation has increased to $2.6 billion.

Improbable

Founded in 2012 by two computer science grads, Improbable helps game developers find better ways to make multiplayer games.

They’ve received over $600 million funding to-date and boast a workforce of more than 600.

OakNorth Bank

OakNorth provides business and property loans to small and medium-sized businesses. Established by the founders of Copal Amba, it gained regulatory approval in 2015 and is already making huge waves in the business banking world.

Revolut

Featured in LinkedIn’s top 2020 list of startups to work for in the UK, Revolut eliminates the need for travel money with its “live” exchange rate debit cards. Revolut’s users are free (literally) to spend their transferred funds in 150 countries with absolutely no fees added.

The London-based fintech startup has grown a 12M+ customer base since it was launched in 2015. They offer a ton of features for customers, such as current accounts, medical insurance, the ability to hold up to 27 different currencies in your account - including even a cryptocurrency option.

The digital challenger bank continues to thrive.Their most recent Series D funding round landed them an extra $500M giving them the resources to expand into the US.

Transferwise

Founded in 2010, Transferwise is a London based payments transfer provider, making it cheaper for customers to send money abroad. They boast a customer base of over 8 million and claim to save their customers $1.5 billion every year.

Having most recently secured £248 million funding in July 2020, bringing their total fundraising to £552 million, the company is now valued at over $5 billion, making it one of Europe’s most valuable fintech unicorns. Unsurprisingly, it’s features in London’s Tech 50 2020 and Fast Track’s Tech 100 2020.

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