LinkedIn’s 2023 list of top Australian startups features one woman … and 32 men

Australian startups founded by men have overwhelmingly dominated LinkedIn’s seventh annual list of the nation’s top startups, with the social networking platform for professionals saying it plans to do more to highlight the importance of diverse and equitable workforces.

The list of 20 Australian startups, published on Wednesday morning, features only one woman founder, Lyka’s Anna Podolsky, alongside 32 male founders.

However, Cayla Dengate, a careers expert at LinkedIn, said the list “offers a reflection of the venture capital ecosystem, its makeup and its challenges”.

“There is much work to be done across the industry, and ensuring organisations build diverse and equitable workforces is more important than ever,” she told SmartCompany.

“This is an area we will continue to address in LinkedIn News reporting and conversations on LinkedIn, and we hope to see more women-founded startups join the Top Startups list in the future.”

Sydney is the most well-represented capital city on the list, with Sydney-based crypto outfit Immutable once again taking out the top spot.

Artificial intelligence startup Harrison.ai came in second on the list, followed by alternative protein pioneer Vow. Like Immutable, both are also based in Sydney.

Of the 20 companies featured, 12 are located in Sydney, including the top four. Six Melbourne-based startups have been included in the list, along with one Darwin-based firm and one based in Brisbane.

The list was compiled internally by the LinkedIn Australia team, which says it uses data from the platform in the areas of employee growth, jobseeker interest, and member engagement within the company and its employees. This year, companies needed to be operating for five years or less to be eligible

LinkedIn says it also considers “how well these startups pulled talent from the LinkedIn Top Companies list“, or in other words, attracted top talent from bigger competitors”. This was measured as a percentage of the startup’s total workforce.

When asked by SmartCompany for more detail about what data is used to compile the list, a spokesperson for LinkedIn said the time frame analysed for this year’s list was between July 1, 2022 and June 30, 2023, and the data itself is based on “billions of actions taken by the 950+ million members on LinkedIn”.

More specifically, the spokesperson said ’employee growth’ was measured by a percentage increase in headcount, which needed to be at least 10% over the 12 months. Jobseeker interest was measured by the rate at which people are viewing and applying for jobs at the startups, and member engagement looked at “non-employee views and follows of the company’s LinkedIn page, as well as how many non-employees viewed or followed employees at that startup”.

The spokesperson also provided more clarity on which companies are considered ‘startups’ for the purpose of the list.

“To be eligible, companies must be independent and privately held, have 50 or more country-based employees, be five years old or younger, and be headquartered in the country on whose list they appear,” they said.

“We exclude all staffing firms, think tanks, venture capital firms, management and IT consulting firms, nonprofits and philanthropy, accelerators, and government-owned entities.

“Startups who have laid off 10% or more of their workforce within the methodology time frame are also ineligible.”

The top 20 startups in Australia, according to LinkedIn

1. Immutable

This is the second time Sydney-based blockchain gaming company Immutable has scored top billing on LinkedIn’s list, having also been ranked in first position in 2022. In March 2022, the startup revealed a massive $3.5 billion valuation after completing a $280 million Series C round, however, it has not been immune to significant challenges through 2022, including employee redundancies.

Full-time headcount: 277
Headquarters: Sydney
Year founded: 2018
Founders: James Ferguson, Robbie Ferguson
Most common skills: development tools, web development, leadership
Most common job titles: software engineer, product manager, engineering manager
Largest job functions: engineering, arts and design, human resources

2. Harrison.ai

Aussie healthtech startup Harrison.ai uses artificial intelligence to alleviate strain on healthcare systems around the world, by helping healthcare professionals with diagnosis, treatment design and image analysis. The startup raised $129 million in Series B funding in December 2021.

Full-time headcount: 72
Headquarters: Sydney
Year founded: 2018
Founders: Dr Aengus Tran and Dimitry Tran
Most common skills: development tools, data science, business management
Most common job titles: artificial intelligence specialist, software engineer, machine learning engineer
Largest job functions: engineering, business development, administrative

3. Vow

Another Sydney-based startup, food biotech Vow has found a way to use animal cells to produce lab-grown products that resemble meat. At the end of 2022, Vow raised US$49.2 million ($73.4 million) in Series A funding, led by Blackbird and Prosperity7 Ventures, part of which was earmarked for launching the world’s first cultured meat dining experience in Singapore.

Full-time headcount: 78
Headquarters: Sydney
Year founded: 2019
Founders: George Peppou and Tim Noakesmith
Most common skills: leadership, digital literacy, communication
Most common job titles: software engineer, business operations associate, research associate
Largest job functions: operations, engineering, research

4. Ofload

Freight logistics company Ofload now has a team of 120 employees working towards its mission to digitise Australian trucking fleets, to create a more sustainable and centralised supply chain. Securing second place in the 2022 Smart50 Awards, Ofload has an annual revenue of more than $25 million.

Full-time headcount: 120
Headquarters: Sydney
Year founded: 2019
Founder: Geoffroy Henry
Most common skills: leadership, business management, digital literacy
Most common job titles: business development manager, transportation manager, product manager
Largest job functions: operations, sales, business development

5. Montu

Medicinal cannabis startup Montu entered the equity crowdfunding record books in November 2021 when it raised $1 million in 13 minutes and 46 seconds. The company went on to reach its maximum target of $3.5 million, securing backing from 1490 investors to continue building out its telehealth platform.

Full-time headcount: 312
Headquarters: Melbourne
Year founded: 2019
Founder: Christopher Strauch
Most common skills: leadership, business management, web development
Most common job titles: software engineer, patient care coordinator, medical affairs
Largest job functions: healthcare services, engineering, operations

6. Lyka

Lyka is continuing to disrupt the pet food industry, having secured $25 million in follow-on funding in June this year to scale up its operations. This latest funding brought its Series B funding round to $55 million, following an initial $30 million raised in October 2022.

Full-time headcount: 160
Headquarters: Sydney
Year founded: 2018
Founders: Anna Podolsky and Dr Matthew Muir
Most common skills: business management, leadership, digital marketing, digital literacy, communication
Most common job titles: veterinary nurse, customer service representative, product manager
Largest job functions: marketing, operations, engineering

7. Zeller

SME-focused payments startup Zeller has only been operating for three years, but it has already hit unicorn status and been named among Victoria’s leading startups.

Full-time headcount: 218
Headquarters: Melbourne
Year founded: 2020
Founders: Ben Pfisterer and Dominic Yam
Most common skills: web development, development tools, leadership
Most common job titles: software engineer, account executive, front-end developer
Largest job functions: engineering, sales, marketing

8. Kapitol Group

Melbourne-based Kapitol Group is no stranger to the LinkedIn Top Startups list, having also featured in the 2022 edition. The construction company specialises in commercial and residential buildings, educational institutions and IT data centres. 

Full-time headcount: 210
Headquarters: Melbourne
Year founded: 2018
Founders: Andrew Deveson and David Caputo
Most common skills: project management, construction engineering, business management
Most common job titles: project manager, soldier, construction manager
Largest job functions: program and project management, operations, military and protective services

9. Dabble

Online sports and racing bookmaker Dabble is the only Northern Territory-based startup to feature on this year’s list and one of only two companies based outside of Sydney and Melbourne. Betting giant Tabcorp reportedly owns a 20% stake in the business.

Full-time headcount: 96
Headquarters: Darwin
Year founded: 2020
Founders: Jonathan Robin and David Robin
Most common skills: development tools, web development, data science
Most common job titles: software engineer, content producer, data scientist
Largest job functions: engineering, marketing, business development

10. Howatson+Company 

Advertising agency Howatson+Company has worked with the likes of Allianz, Belong and Maurice Blackburn.

Full-time headcount: 121
Headquarters: Sydney
Year founded: 2021
Founder: Chris Howatson
Most common skills: advertising, digital marketing, graphic design
Most common job titles: creative director, copywriter, vice president design, user experience designer
Largest job functions: arts and design, business development, media and communication

11. me&u

Online ordering and payments startup me&u is preparing to enter its next chapter, this time as part of a merger with rival hospitality startup Mr Yum. The deal will combine Melbourne-based Mr Yum and Sydney-based me&u into a business that will serve 6,000 venues in Australia, New Zealand, the UK, and US.

Full-time headcount: 126
Headquarters: Sydney
Year founded: 2018
Founder: Stevan Premutico
Most common skills: business management, leadership, digital literacy
Most common job titles: account manager, customer service specialist, customer experience manager
Largest job functions: customer success and support, business development, sales

12. Amused Group 

Betting and gaming tech company Amused Group owns six betting brands operating in Australia and globally, including BetDeluxe, Bet Nation and Surge.

Full-time headcount: 240
Headquarters: Melbourne
Year founded: 2021
Founders: Noah Rose and Colby Paulding
Most common skills: web development, development tools, software development life cycle (SDLC)
Most common job titles: product team manager, software engineer, product design consultant
Largest job functions: engineering, product management, information technology

13. What Ability

Founded by former Parramatta Eels player Steve Dresler, What Ability is an NDIS-registered disability support service that connects people living with a disability with professional and semi-professional athletes as support workers.

Full-time headcount: 58
Headquarters: Sydney
Year founded: 2019
Founder: Steve Dresler
Most common skills: teamwork, communication, leadership
Most common job titles: office associate, support associate, state manager
Largest job functions: customer success and support, operations, information technology

14. Akcelo

Advertising agency Akcelo focuses on brands working in the entertainment, tech, sports, lifestyle and fast-moving consumer goods sectors, while its venture arm specialises in pre-seed to Series A and B funding deals.

Full-time headcount: 91
Headquarters: Sydney
Year founded: 2019
Founders: Aden Hepburn, Miles Scott and Dave Di Veroli
Most common skills: digital marketing, advertising, business management
Most common job titles: creative director, project manager, director of account management
Largest job functions: sales, marketing, arts and design

15. Carma

Carma is an award-winning online marketplace for used cars, which allows drivers to purchase second-hand vehicles at fixed prices. The startup emerged from stealth mode in late 2021, with $28 million in seed funding, and a mission to bring “ease, trust and joy back into used car buying”.

Full-time headcount: 129
Headquarters: Sydney
Year founded: 2021
Founders: Yosuke Hall and Lachlan MacGregor
Most common skills: leadership, business management, digital literacy, project management, customer experience
Most common job titles: software engineer, customer support specialist
Largest job functions: sales, customer success and support, human resources

16. ORDE Financial

Non-bank mortgage lender ORDE Financial specialises in residential, commercial and self-managed super fund loans. The business is led by managing directors Paul Wells and Ryan Harkness, and describes itself as a ‘Wingate business’ due to its relationship with financial services company Wingate. 

Full-time headcount: 80
Headquarters: Melbourne
Year founded: 2019
Most common skills: commercial banking, capital markets, business management
Most common job titles: banking analyst, business development manager, business development officer
Largest job functions: finance, business development, operations

17. Fortress 

Esports startup Fortress operates licensed hospitality venues in both Sydney and Melbourne for esports fans and has backing from Endeavour Group.

Full-time headcount: 167
Headquarters: Melbourne
Year founded: 2018
Founders: Jon Satterley, Adrian Giles and Ryan Trainor
Most common skills: commercial banking, capital markets, business management
Most common job titles: banking analyst, business development manager, business development officer
Largest job functions: finance, business development, operations

18. T-Shirt Ventures

Healthtech startup T-Shirt Ventures is the business behind digital platforms Provider Choice and HeyHubble, which both help connect National Disability Insurance Scheme participants with service providers. It booked $11 million in Series A funding with HEAL Partners in October 2022.

Full-time headcount: 71
Headquarters: Sydney
Year founded: 2019
Founders: Tom Blinksell and Jonathan Salgo
Most common skills: data science, business management, data storage technologies
Most common job titles: software engineer, plan manager, community outreach manager
Largest job functions: engineering, marketing, information technology

19. Plotlogic 

Deep tech mining startup Plotlogic has developed advanced sensors and artificial intelligence in a bid to make the mining sector more sustainable and efficient. In August, it secured US$28 million ($43 million) in Series B funding from a host of Australian and US venture capital funds.

Full-time headcount: 73
Headquarters: Brisbane
Year founded: 2018
Founder: Andrew Job
Most common skills: development tools, data science, digital literacy
Most common job titles: software engineer, mechatronics engineer
Largest job functions: engineering, operations, product management

20. Honey Insurance

Honey Insurance uses data to simplify the process of applying for home and contents insurance and provides customers with smart home sensors, offering lower premiums for those taking extra precautions on their security. The startup raised $15.5 million in June 2021, which, at the time, was touted as one of the biggest-ever seed funding raises for an Australian tech company.

Full-time headcount: 83
Headquarters: Sydney
Year founded: 2021
Founder: Richard Joffe
Most common skills: web development, leadership, development tools
Most common job titles: software engineer, customer support specialist, product manager
Largest job functions: engineering, customer success and support, product management

This article was updated at 12.55pm on Friday, September 29, 2023, to include additional responses from LinkedIn.