Which 8 Northern tech firms are members of the billion dollar club?

Eight Northern tech firms are now members of the billion dollar valuation club.

Newcastle-based software giant Sage Group plc is the jewel in the crown of a thriving northern tech scene, which has to potential to be recognised as one of the world’s top five digital clusters, according to a new report by technology-focused investment bank GP Bullhound.

The bank identified eight tech firms in the North of England with a valuation above $1bn. Among this collection Sage Group is the leader, with an estimated valuation as of June 29 of $8.9bn – almost double that of the North’s next biggest tech firm, Autotrader, valued at $4.7bn.

1. SAGE
2. AutoTrader
3. Skyskanner
4. Pace
5. ShopDirect
6. MoneySuperMarket
7. The Hut
8. SkyBet

According to GP Bullhound, Newcastle is home to one of the strong young firms too in partner marketing firm Performance Horizon. Last year, the company, which deals with roughly £3bn of transactions annually, saw net revenue soar to just under $10m – a figure it is confident it can double in 2016.

It also hopes to take headcount from 100 to 200 over the next 12 months after a $15.4m investment round.

The research was published following a Northern Tech Tour which brought investors from around Europe to Leeds and Manchester for two days of presentations from 23 tech companies.

It highlighted how the digital sector in the North employs 590,000 people, contributing £18bn of GVA to the UK economy.

The report did however warn: “To achieve these global ambitions, the region needs to attract more smart capital (from London, Europe and the US) to fill the early stage funding gap.

“It must nurture and retain the talent pool and work together as one technology cluster – despite the geographical spread.

“It has to make more noise to let everyone know about the quality of its local technology businesses.”

The organisation also runs the Northern Tech Awards, recognising the 50 fastest growing tech companies in the North.  Next year’s event will take place in Newcastle on March 30.