Xero named in the top 3 for highest growth tech exporters
Xero has been named as one of New Zealand’s highest growth technology exporters by the Technology Investment Network (TIN).
The company has also placed third on the the EY Ten Companies to Watch list, which is made up of the highest dollar value growth companies in the TIN100 Report.
For the financial year, Xero’s operating revenue increased 67%, from $123.9 million to $207.1 million and in the same period, Xero’s customer base grew from 475,000 users globally to 717,000.
This year, Xero has also helped the Wellington region nearly double its revenue growth percentage.
The Wellington-based companies monitored by TIN generated over $1.9 billion revenue in the Wellington region (15.3% growth) and created more than 1,500 jobs.
Xero alone is looking to add more than 50 highly skilled product development jobs in Wellington to its 800 staff in New Zealand before the end of the year.
Overall, Xero was revealed as the fifth-highest revenue earner of all the companies that the TIN100 Report monitors.
Rod Drury, CEO of Xero, says that as one of the fastest growing global cloud accounting companies in the world, Xero has proven you can build a truly global business from New Zealand.
“With more than 717,000 subscribers and rapid product innovation, Xero is well placed to outpace its competitors and achieve its goal of reaching $1b revenue."