Profit Track 100

Covid-19 is the only barrier standing in the way of this cloud hosting firm growing its first US outpost. The Brighton-based company was set up in 2001 by IT engineers Jon Lucas and Jake Madders, both 47, in their spare time. Ten years later, cloud technology started growing, and they quit their day jobs to focus on expanding the business. Since then, Hyve has built a 350-strong list of blue-chip clients, including Young’s and Capita, and a 95% top rating on Trustpilot, while profits reached £2.3m in the year to March 2020. In just two years, sales to US clients have grown to 41% of turnover, though the company still has to service them from the UK as Covid-19 restrictions have prevented a full scale-up of its US office.

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Company details
Year2021
CompanyHyve
ActivityWeb hosting provider
LocationBrighton
Profits £000*2,345
Sales £000*8,137
Staff27
Founded2001
Websitewww.hyve.com

If applicable:

# ebitda * supplied by company † annualised figure