The North East’s growing technology sector has been given another boost after four firms in the region were named as potential tech ‘unicorns’.
Investment group GP Bullhound included the four firms on a list of “foals” - businesses that could one day be valued at over $1bn.
The four foals are Newcastle digital marketing platform Performance Horizon, virtual reality company Zerolight, video game publisher DoubleEleven, and electric car specialist Avid Technologies.
By being included in the list, GP Bullhound says the companies have the potential to follow the likes of Uber, AirBnB and Spotify to massive growth.
Nick Horrocks, director at GP Bullhound, said: “The North East is now a globally significant digital hub. The scale at which tech firms are producing world-leading innovations, attracting investment from around the world, and creating thousands of jobs in the process, is unprecedented.”
Performance Horizon specialises in helping companies drive online sales using a scalable, digital marketing solution. Its software allows customers to alter commission payments to third parties in order to increase sales.
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