Only a month since securing $65 million in a Series B round, Melbourne-based healthtech platform Heidi has taken the top spot in Deloitte’s 2025 Tech Fast 50 list, leading a milestone cohort dominated by software and fintech innovators.
Founded by vascular surgical resident Dr Thomas Kelly, Waleed Mussa and Yu Liu in 2019, Heidi Health uses AI to automate administrative work such as documentation, form filling and task management to let clinicians focus on patient care.
The company’s software is used across emergency departments, general practice and specialist clinics, supporting more than 2 million consults per week in 110 languages from 116 countries.
Taking the number one spot in the Tech Fast 50, Heidi - which was valued at $465 million a month ago - achieved a whopping 15,323 per cent three-year growth rate.
In second place was listed music tech company Vinyl Group (ASX: VNL), which rose by 2347 per cent through its work offering tech and media platforms to empower musicians. Rounding out the top three was Tasmania-based AI infrastructure company Firmus Technologies, which recorded a 2249 per cent rise.
Placing 10th on the list this year was bridging loan tech Bridgit, co-founded by Sydney Young Entrepreneur Awards finalist in 2022 and 2023 Aaron Bassin.
2024 Young Entrepreneur Award finalists Alastair Blenkin, Tom Newby, Nathan Dench, Jesse Dymond and Tim Rogers also placed 24th for their digital procurement software ProcurePro.
The list also saw 2025 Sydney Young Entrepreneur finalists Ben Delaney, Vanessa Zhao, HoJun Tang and Adrian Brossard place 20th with smart locker company Yellowbox
Cryptocurrency exchange Swyftx, founded by Alex Harper and Angus Goldman - winners of the 2022 Brisbane Young Entrepreneur Awards - placed 34th on the list this year.
“Many companies featured on the list have thrived by creating technology-based services that solve everyday problems, despite global economic shifts that have reshaped the business landscape,” Deloitte Technology Fast 50 leader Josh Tanchel said.
“Others have cleaned house and proven their business models are sustainable with healthy organic cash flows, which is a positive shift that encourages long-term success.
While NSW still accounts for 43 per cent of the list, it has dropped down from 56 per cent last year. Victoria lifted from 18 per cent to 30 per cent, while Queensland grew marginally to 13 per cent.
WA and SA remained the same at 8 per cent and 4 per cent respectively, while Tasmania saw an increase from not being included at all to account for 2 per cent of the list.
Software companies saw a surge, accounting for 38 per cent of the list compared to 26 per cent in 2024, while fintech remained steady at 18 per cent and health tech grew a few percentage points to hit 14 per cent.
The Top 50 entry point also rose from 123 per cent to 143 per cent, reflecting better year-on-year growth conditions but still far from the 264 per cent entry point recorded in 2023.
Last year’s winner, Sydney-based smart home insurance provider Honey Insurance, secured $108 million in one of Australia’s largest-ever Series A rounds seven months before the list was revealed.
While the list celebrates fast-rising tech companies across Australia, the awards program noted this year’s cohort has shown resilience amid global challenges, including tougher capital raising conditions, increased scrutiny on valuations and a renewed focus on early profitability.
“The Tech Fast 50 awards celebrate the ingenuity, resilience and growth potential of Australia’s tech sector. Amid a range of headwinds and pressures, these pioneering companies are not just adapting, they are thriving,” Deloitte Technology sector leader Bec McConnochie said.
“This year, we spotlight tech innovators who are redefining benchmarks and showcasing the strength of Aussie innovation.
“Their achievements prove that with strategic investment and the right approach to overcoming growth challenges, Australian tech continues to scale globally, driving both national impact and prosperity.”
The Top 50 fastest growing tech companies in Australia are:
- Heidi Health +15,323%
- Vinyl Group +2,374%
- Firmus Technologies +2,249%
- Wingman Group +1,669%
- Zitcha +1,391%
- ParkD +929%
- 4D Medical +715%
- QSIC +700%
- Intelligent Monitoring Group +620%
- Bridgit +602%
- Eat Club +555
- Pay.com.au +529
- PictureWealth +453
- Bioxyne +452%
- Foil Drive +437%
- Fortiro +427%
- Updoc +417%
- Fabulate +393%
- Bridgeford Group +384%
- Yellowbox +355%
- Breadcrumb +343%
- Immuron +304%
- Affinda +302%
- ProcurePro +276
- Driva +268%
- Leaptel +260%
- DroneShield +242%
- OpenSolar +238%
- Neara +232%
- Tall Bob +228
- AdUnion +226
- Baidam +225%
- Streamplay Studio +209%
- Swyftx +201
- Karmo +195%
- Microba +189%
- B Dynamic Logistics +182%
- SiteHive +182%
- Tranzformd +179%
- EQL +168%
- Apxium +163
- Ofload +162%
- iCatalyst +158%
- Australian Bay Lobster +157%
- Azupay +157%
- Inventia Life Science +153%
- Zii +147%
- DXN +144%
- Linkby +144%
- Prezzee +143%
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