Manchester–based e-Procurement software provider Wax Digital has joined the likes of Alibaba, Google and Twitter by earning a place on a top 100 Red Herring awards list.
Wax Digital has won a place on Europe’s Top 100 list and the Red Herring awards celebrate the innovations and technologies of 100 of Europe’s most exciting, leading private companies in sectors such as cloud software, social media, mobile and virtualisation.
Selected from 1,200 privately financed European companies, Wax Digital was recognised for exceptional innovation in cloud software, implementing quarterly releases of its core platform and developing a unique set of integration capabilities, and the Red Herring awards panel believe it is well positioned to grow at a rapid rate.
Paul Ellis, managing director, Wax Digital said: “We now sit alongside an impressive list of organisations whose technologies have revolutionised the way we do business. To make the top 100 list is testament to how our SaaS e-Procurement software, Wax Digital web3 is transforming the procurement landscape, helping businesses control spend, collaborate with suppliers and save money.”
“The last six months have seen exciting times at Wax Digital with new product developments including our game-changing iPaas integration solution for the procurement industry. In addition to this award, we have also announced backing from August Equity to help accelerate our growth and drive our expansion internationally. We look forward to exciting times ahead.”
Red Herring’s Top 100 list has become a mark of distinction for identifying promising new companies and entrepreneurs. Red Herring’s editors were among the first to recognize that companies such as Alibaba, Facebook, Google, Kakao, Skype, SuperCell, Spotify, Twitter, and YouTube would change the way we live and work. Thousands of the companies most interesting and innovative companies have graced the Top 100 list over the years.
“In 2016, selecting the top achievers was by no means a small feat,” said Alex Vieux, publisher and CEO of Red Herring. “In fact, we had the toughest time in years because so many entrepreneurs had crossed significant milestones so early. But after much thought, rigorous contemplation and discussion, we narrowed our list down from hundreds of candidates from across Europe to the Top 100 Winners.”
“We believe Wax Digital embodies the vision, drive and innovation that define a successful entrepreneurial venture. Wax Digital should be proud of its accomplishment, as the competition was very strong.”
commented Alex Vieux, Publisher and CEO of Red Herring
Red Herring’s editorial staff evaluated the companies on both quantitative and qualitative criteria, such as financial performance, technological innovation, management quality, overall business strategy and market penetration. This assessment was complemented by a review of the track records and standings of similar startups in the same verticals, allowing Red Herring to see past the “buzz” and make the list a valuable instrument of discovery and advocacy for the most promising new business models in Europe.