Kneat Wins Scale Up Award in Fourth Consecutive Year on Fast 50

Limerick-headquartered software company, Kneat, has been recognized for the fourth year in a row as one of Ireland’s fastest growing technology companies at the 2024 Deloitte Technology Fast 50 Awards. In addition, on award night, Kneat won the Scale Up category, awarded to the company that has demonstrated an impressive ability to scale internationally.

“This award is for the Kneat team, I’m incredibly proud of the great work they do day in day out,” said Eddie Ryan, chief executive of Kneat. “Our inclusion in the Fast 50 for the past four years is testament to the continued hard work and commitment from our global teams.”

They continue to deliver standout results. In our recent quarterly reporting, we announced an Annual Recurring Revenue of $49.9 million, growing by 59% over the previous year. At the same time, we announced record revenue growth for the thirteenth consecutive quarter,” he said.

Founded in Limerick in 2007 by pharmaceutical and IT industry experts Eddie Ryan, Kevin Fitzgerald, and Brian Ahearne, Kneat has grown significantly from an early incubation team to over 300 staff today, operating across the U.S., Europe and Asia. Amongst its many customers, Kneat counts eight of the world’s top 10 biggest pharmaceutical companies. They have selected Kneat to digitize and harmonize their many validation processes globally across all their sites.

Quality and patient safety is critical for these highly regulated companies and for this reason they require their suppliers to meet similar high quality and compliance standards. Kneat’s industry-leading software platform, Kneat Gx, digitizes validation, a process for designing and testing all systems and processes involved in the research, manufacture, and delivery of a therapeutic product. Validation is a critical business process mandated by regulatory authorities such as the U.S. Food and Drug Administration or the European Medicines Agency. Validation ensures these systems and processes are installed and operate as intended, thereby minimizing the potential for poor product quality and subsequent impact on patient safety.

Digitizing validation enables regulated companies to reach a higher compliance standard, safeguard patient safety, reduce business risk, and minimize costs. “In recent months, we launched the latest version of the Kneat Gx platform and welcomed several new strategic customers. Increasingly, our customers are using Kneat Gx as a single platform for all their validation needs, from commissioning and qualification through to computer systems validation,” Ryan said.

As it was from the start, quality, innovation, and customer success remain the company’s focus. “Our mission from the beginning has been to help life sciences manufacture and deliver therapies to their patients, to the highest safety standard. It’s always been about quality, compliance, and efficiency, not just about saving money— which Kneat delivers in spades also. Today we are early in our journey and excited about our future, where the short term is about consolidating our leadership position in the validation space. In the longer term we see great opportunity in areas adjacent to the validation space, also within the life sciences industry,” said Ryan.