A BUSINESS has been featured as one of the 10 Profit Track Ones to Watch.

Brighton based business Hyve Managed Hosting has been selected by the Sunday Times as one of its showcase businesses after it achieved an impressive profit growth and created some innovative technologies.

Hyve is a privately-owned, fully managed cloud hosting provider. It has built a 350-strong list of blue-chip clients, including Young’s and Capita, and a 95 per cent top rating on Trustpilot, while profits reached £2.3m in the year to March 2020.

Jake Madders, director and co-founder of Hyve believes the achievement is a big moment for the company.

He said: “Being named as a company to watch by The Sunday Times 10 Profit Track is a really important moment for our independent tech company in Brighton.”

The Argus: Hyve founders, Jake Madders (right) and Jon Lucas (middle left)Hyve founders, Jake Madders (right) and Jon Lucas (middle left)

“We’re always looking at niche problems our customers have that we can solve to make sure we provide the best service possible. This shows that our hard work expanding into other countries and building new products is gaining recognition, which is really exciting.”

Hyve has managed to grow during the last two years, despite the Covid-19 pandemic. Sales to US clients have grown to 41% of turnover in the last two years, though the company still must service them from the UK as Covid-19 restrictions have prevented a full scale-up of its US office.

The 10 Profit Track Ones to Watch showcases companies that are yet to showcase the criteria of the main league table, but it does recognise impressive growth with the expectation that they will be included in the Fast Track 100 in the future.

The other finalist that Hyve is competing with are AVK a power systems provider, Orean Personal care and Racelogic an automotive technology manufacturer in Buckingham.