21. Catapult

Revenue: $11.77 million
Growth: 218.60%
Founders: Shaun Holthouse, 40, and Igor van de Griendt
Head office: Melbourne
Year founded: 2006
Employees: 93
Industry: Sport and recreation
Website: catapultsports.com

Sports technology company Catapult sails into the 20th spot in this year’s Smart50 Awards thanks to its solid growth over the past few years.

Catapult has proved itself as a successful exporter, with around 85% of its technology sold offshore.

Its largest markets are soccer and rugby clubs in the United Kingdom and US football and basketball teams.

The Aussie business works with 14 of the 30 National Basketball Association teams and 10 of the 12 English Premier Rugby teams.

For the 2014-15 financial year, Catapult’s revenue was $11.77 million.

Co-founder Shaun Holthouse says he expects that figure to only grow as Catapult continues to expand in international markets.

“You don’t necessarily need to invent a new technology to be a successful business, but you do need to position your company in a unique way that allows you to corner off your target market in a way no one else can,” Holthouse says.

“Innovation is not just about producing the next great product, but rather thinking up new ways for your brand to be seen as the experts in your field. Catapult is far from the biggest company in its space, but our company culture ensures everyone is on the same page with who we are and what we do.”

As for what keeps him awake at night, Holthouse told SmartCompany he is constantly thinking about how he can stay one step ahead of the competition.

“There are a few big corporations starting to enter our space, as well as many smaller companies that are coming up with innovative variations of what has made Catapult successful,” he says.

“Other things that keep us up at night revolve around our rapid growth the past 12 months, resulting in full-time staff being based all over the world and needing training and the feeling they’re still part of our company culture.”