As lists go, LinkedIn’s annual compilation of Australia’s top 20 startups is certainly a conversation starter.
The find-a-job social media site has trawled through its own data, looking at four key parameters, including employee growth, jobseeker interest and how well startups lured talent away from LinkedIn’s own “Top Companies” list, to select crypto-based online gaming marketplace Immutable as its top startup in 2023.
For the 7th annual LinkedIn Top Startups list, the platform also tweaked its eligibility criteria to companies less than five years old to bring in newer players. The oldest dogs in the top 20 now include 2nd placed Harrison.ai, the Sydney machine learning diagnosis medtech cofounded by Dimitry Tran and Dr Aengus Tran. Seven of the 20 were founded in 2018, including pet food brand Lyka (6).
In third place is Blackbird-backed “lab meat” venture Vow, best known for an ad agency-generated publicity stunt earlier this year, when it sprinkled a soupcon of extinct woolly mammoth DNA over a meatball made from cultured meat (flesh grown from animal cells). Vow raised a $73.5 million Series A in November last year. The company was planning to open a concept restaurant call Morsel, after the brand name for its lab-grown quail meat, in Singapore this year.
Sydney startups dominate with LinkedIn list with 60% (12) of the entries, double Melbourne’s six, with Darwin online bookie Dabble (9), which managed to jag an advertising trial on TikTok earlier this year, and BHP-backed Brisbane mining tech startup Plotlogic scraping into the 20 in 19th place.
Another notable inclusion is restaurant ordering app me&u (11), which last week confirmed it was merging with rival app Mr Yum which earlier this year cut 40 roles, its second round of job shedding.
Given the list is all about where people want to work, the list is an interesting litmus test of the Australian tech workforce, with nearly half the startups featured employing less than 100 people. Sydney NDIS provider What Ability (13th) is the smallest startup listed, with 58 staff, medical cannabis telehealth platform Montu (5) the largest with a team of 312. Four: Immutable, Zeller (7), Kapitol Group (8) and Amused Group, have substantial payroll tax bills with more than 200 people on the books.
Perhaps the most interesting part of the LinkedIn list is the headcounts of the startups involved, especially after 18 months of widespread job losses and staffing reductions in the sector.
Draw your own conclusions, but among 33 founders at 20 companies, just one is without a Y chromosome, Lyka’s Anna Podolsky, although at 3% of the total, she roughly equates with the level of VC funding given to founders who are women.
It’s nonetheless been a challenging time for Immutable, especially for employees. Like many startups, the NFT gaming venture has been forced to cut its headcount twice over the last 14 months. In July last year, less than five months after raising $280 million, Immutable cut 20 staff – 6% of its workforce. In February this year, another 32 roles were shed at the crypto gaming unicorn.
Reflecting on being named 2023’s best startup, Immutable cofounder and CTO Alex Connolly said one of the best things about his startup is the calibre of people who work there.
“We get to work with some of the best people in global technology every day. We do most of our R&D here in Australia, and we have go-to-market teams all over the world,” he said.
“Being a truly global company in a truly global industry, but having to compete from an Australian base, gives us the opportunity to, and the challenge, where the people who are the best in Australia get to test themselves against the best in the world.”
Here are LinkedIn’s 2023 top 20 startups:
1. Immutable
Full-time headcount: 277
HQ Sydney
Founded: 2018
Most common job titles: Software Engineer, Product Manager, Engineering Manager
Largest job functions: Engineering, Arts and Design, Human Resources
What they do: Immutable is a crypto-based web game development and publishing business. It provides a decentralised and secure marketplace for trading in-game items and assets such as non-fungible tokens (NFTs).
2. harrison.ai
FT headcount: 72
HQ: Sydney
Founded: 2018
Most common job titles: Artificial Intelligence Specialist, Software Engineer, Machine Learning Engineer
Largest job functions: Engineering, Business Development, Administrative
What they do: Harrison.ai is a clinician-led healthcare company that uses artificial intelligence to help healthcare professionals diagnose diseases, design treatments and analyse medical images.
3. Vow
Tim-Noakesmith and George Peppou, cofounders of VOW. Photo: supplied
FT headcount: 78
HQ: Sydney |
Founded: 2019
Most common job titles: Software Engineer, Business Operations Associate, Research Associate
Largest job functions: Operations, Engineering, Research
What they do: Vow is a food biotech company that uses animal cells to grow meat-like products in laboratories and factories, rather than farms and abattoirs.
4. Ofload
FT headcount: 120
HQ: Sydney
Founded: 2019
Most common job titles: Business Development Manager, Transportation Manager, Product Manager
Largest job functions: Operations, Sales, Business Development
What they do: Ofload is a freight logistics company that aims to digitise Australian trucking fleets into a more sustainable and centralised supply chain. It connects companies looking to deliver products with shippers and carriers.
5. Montu
FT headcount: 312
HQ: Melbourne
Founded: 2019
Most common job titles: Software Engineer, Patient Care Coordinator, Medical Affairs
Largest job functions: Healthcare Services, Engineering, Operations
What they do: Montu is an Australian medical cannabis company that connects Australians to qualified doctors through its telehealth platform.
6. Lyka
FT headcount: 160
HQ: Sydney
Founded: 2018
Most common job titles: Veterinary Nurse, Customer Service Representative, Product Manager
Largest job functions: Marketing, Operations, Engineering
What they do: Lyka is a pet food startup that develops personalised diets for dogs based on their breed, weight and size, and dietary requirements.
7. Zeller
Zeller COO Dominic Yap and CEO Ben Pfisterer
FT headcount: 218
HQ: Melbourne
Founded: 2020
Most common job titles: Software Engineer, Account Executive, Frontend Developer
Largest job functions: Engineering, Sales, Marketing
What they do: Zeller is a payment and financial services startup for small to medium-sized businesses that helps owners accept and make payments and manage their finances.
8. Kapitol Group
FT headcount: 210
HQ: Melbourne
Founded: 2018
Most common job titles: Project Manager, Soldier, Construction Manager
Largest job functions: Program and Project Management, Operations, Military and Protective Services
What they do: Kapitol Group is a construction company that builds commercial and residential buildings, educational institutions and data centres to support critical IT infrastructure needed by enterprise and government.
9. Dabble
FT headcount: 96
HQ: Darwin
Founded: 2020
Most common job titles: Software Engineer, Content Producer, Data Scientist
Largest job functions: Engineering, Marketing, Business Development
What they do: Dabble is an online sports and racing bookmaker where users can share their experiences and tips with other members through an app.
10. Howatson+Company
FT headcount: 121
HQ: Sydney
Founded: 2021
Most common job titles: Creative Director, Copywriter, Vice President Design, User Experience Designer
Largest job functions: Arts and Design, Business Development, Media and Communication
What they do: Howatson+Company is a full-service advertising company that has recorded rapid growth since it was founded in 2021 and is now considered a mid-sized firm. The agency’s clients include Allianz, Belong and Maurice Blackburn.
11. me&u
Me&u founder Stevan Premutico (centre) with investors Robbie Cooke (l) and Justin Hemmes (r).
FT headcount: 126
HQ: Sydney
Founded: 2018
Most common job titles: Account Manager, Customer Service Specialist, Customer Experience Manager
Largest job functions: Customer Success and Support, Business Development, Sales
What they do: me&u is an online ordering and payment system that shot to prominence in Australia during the Covid-19 pandemic. It enables restaurant customers to order and pay for food through a contactless QR code system.
12. Amused Group
FT headcount: 240
HQ: Melbourne
Founded: 2021
Most common job titles: Product Team Manager, Software Engineer, Product Design Consultant
Largest job functions: Engineering, Product Management, Information Technology
What they do: Amused Group is an online wagering, gaming and technology company that owns six betting brands that operate in Australia and globally, including BetDeluxe, Bet Nation and Surge.
13. What Ability
FT headcount: 58
HQ: Sydney
Founded: 2019
Most common job titles: Office Associate, Support Associate, State Manager
Largest job functions: Customer Success and Support, Operations, Information Technology |
What they do: What Ability is an approved National Disability Insurance Scheme provider that connects people living with a disability with support workers, including professional athletes who volunteer their time.
14. Akcelo
FT headcount: 91
HQ: Sydney
Founded: 2019
Most common job titles: Creative Director, Project Manager, Director of Account Management
Largest job functions: Sales, Marketing, Arts and Design
What they do: Akcelo is an advertising agency that works with Australian and international brands across entertainment, technology, sports, lifestyle, and fast-moving consumer goods. It also has a venture arm specialising in pre-seed to Series A and B investments.
15. Carma
FT headcount: 129
HQ: Sydney
Founded: 2021
Most common job titles: Software Engineer, Customer Support Specialist
Largest job functions: Sales, Customer Success and Support, Human Resources
What they do: Carma is a digital used car dealership that helps customers buy pre-owned vehicles at fixed prices. It uses 360 degree technology so buyers can inspect cars online and also provides financing.
16. ORDE Financial
FT headcount: 80
HQ: Melbourne
Funded: 2019
Most common job titles: Banking Analyst, Business Development Manager, Business Development Officer
Largest job functions: Finance, Business Development, Operations
What they do: ORDE Financial is an Australian non-bank mortgage lender that specialises in residential, commercial and self-managed super fund loans. It exclusively works with mortgage brokers for a straightforward loan approval process.
17. Fortress
FT headcount: 167
HQ: Melbourne
Founded: 2018
Most common job titles: Banking Analyst, Business Development Manager, Business Development Officer
Largest job functions: Finance, Business Development, Operations
What they do: Fortress is a gaming and entertainment startup that operates esport venues in Sydney and Melbourne for players and spectators. These are also licensed hospitality venues which contain a fantasy-style medieval tavern.
18. T-Shirt Ventures
FT headcount: 71
HQ: Sydney
Founded: 2019
Most common job titles: Software Engineer, Plan Manager, Community Outreach Manage
Largest job functions: Engineering, Marketing, Information Technology
What they do: T-Shirt Ventures is a health tech company that developed and operates two digital platforms — Provider Choice and HeyBubble — that help connect participants on the National Disability Insurance Scheme to quality providers and manage plans.
19. Plotlogic
FT headcount: 73
HQ: Brisbane
Founded: 2018
Most common job titles: Software Engineer, Mechatronics Engineer
Largest job functions: Engineering, Operations, Product Management
What they do: Plotlogic is a mining tech company that uses advanced sensors and artificial intelligence to search for minerals, in a bid to make the sector more sustainable and efficient. It is backed by US billionaire investor and philanthropist Tom Steyer, and mining giant BHP.
20. Honey Insurance
FT headcount: 83
HQ: Sydney
Founded: 2021
Most common job titles: Software Engineer, Customer Support Specialist, Product Manager
Largest job functions: Engineering, Customer Success and Support, Product Management
What they do: Honey Insurance is a home insurance company that gives customers free sensors to install in their houses to monitor for water leaks, fire and theft, in exchange for cheaper premiums.
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