Globes and Statista rank Israel's 100 fastest growing companies

Ranking of the 100 fastest growing companies in Israel
Ranking of the 100 fastest growing companies in Israel

This year's top company is a travel-tech startup founded during the Covid pandemic.

Rank Name EN LINK City Industry Absolute Growth Rate [in %] Compound Annual Growth Rate (CAGR) [in %] Revenue 2018 [in ₪ million Shekels] Revenue 2021 [in ₪ million Shekels] Number of employees 2021 Founding Year Listed on Stock Exchange
1Holistohttps://www.holisto.comRishon LeZionHospitality & Travel17420.9%459.6%0.348.72682015No
2Ampliohttps://www.ampliolearning.comHaifaEducation & Social Services15400.0%437.2%0.346.5882014No
3BeeHerohttps://www.beehero.ioTel AvivAgTech6504.1%304.2%0.424.3292017No
4BlazePodhttps://www.blazepod.comTel AvivSports Tech2738.2%205.0%1.641.3302015No
5Quik (previously Bring Bring Solutions) LeZionFood & Beverages2041.9%177.7%7.7164.81192017Yes
6group 107 AvivIT & Software1982.5%175.1%0.816.22722015Yes
7Dotz Nano SabaElectrical Manufacturing1878.5%170.5%55.3984.4NA2015Yes
8Value Capital One GanFintech, Financial Services & Insurance1673.4%160.8%6.6117.8NA1960Yes
9Kueezhttps://www.weare.kueez.comTel AvivMedia & Telecommunications1258.4%138.6%13.1177.8162016No
10monday.comhttps://www.monday.comTel AvivIT & Software858.9%112.5%115.5995.910642012Yes
11Baba Entertainmenthttps://www.baba-entertainment.comTel AvivIT & Software834.2%110.6%4.542.1372015No
12Datarailshttps://www.datarails.comTel AvivIT & Software810.6%108.8%1.29.71562015No
13Kendagohttps://www.kendago.comKiryat OnoAdvertising & Marketing612.3%92.4%24.5174.9902011No
14Safe-T Grouphttps://safetgroup.comHerzliyaIT & Software601.3%91.4%5.333.2602013Yes
15MediWound & Cosmetics598.7%91.2%12.276.8672000Yes
16Tabithttps://www.tabit.cloudKibbutz YakumIT & Software583.0%89.7%8.451.61822013No
17Karmahttps://www.karmanow.comTel AvivIT & Software581.3%89.6%318.5722013No
18PetroTX L.P. AvivEnergy & Utilities542.2%85.9%7.141NA2006Yes
19Global-e TikvaEcommerce534.8%85.2%138.9792.74732013Yes
21Nutritional Growth Solutionshttps://www.ngsolutions.coTel AvivFood & Beverages480.2%79.7%1.99.8NA2013Yes
22PiKoYahttps://www.pikoya.comHaifaIT & Software443.8%75.8%21.4116.1332010No
23WAY2VAT AvivIT & Software360.3%66.3%14.3472016Yes
24Bikurey Hasade Holdings MalakhiFood & Beverages347.0%64.7%365.8163515731950sYes
25Mobursthttps://www.moburst.comKfar SabaAdvertising & Marketing343.6%64.3%9.538.1652013No
26Morphisec information securityhttps://www.morphisec.comBe'er ShevaCybersecurity338.9%63.7%15.561.21082014No
27Moveo Grouphttps://www.moveo.groupTel AvivIT & Software333.2%63.0%10.244.32002015No
28BTB - Be The Bank AvivFintech, Financial Services & Insurance326.1%62.1%6.728.7392014No
29Enlight Renewable Energy HaAyinEnergy & Utilities320.8%61.4%78.6330.9952008Yes
30Rada Manufacturing318.2%61.1%100.8378.93081970Yes
31Tap Mobilehttps://www.tap.pmBe'er ShevaIT & Software315.4%60.7%5.823.9222011No
32Fiverr AvivAdvertising & Marketing294.2%58.0%271.49627872010Yes
33Talor Karadi Group management & recycling291.9%57.7%25.9101.6592008No
34Zabilo.comhttps://www.zabilo.comTel AvivEcommerce280.0%56.1%5.520.8102017No
35NextVisionhttps://www.nextvision-sys.comRa'ananaAerospace & Defence276.0%55.5%14.448.6322009Yes
36InMode Care & Life Sciences257.0%52.8%3601155.63622008Yes
37ZIM & Transportation230.3%48.9%11674.43467359311945Yes
38Adcore AvivIT & Software226.3%48.3%30.890.4552005Yes
39CollPlant Care & Life Sciences225.0%48.1%17.350.5662004Yes
40Luzon Group'ananaConstruction & Engineering194.7%43.4%713.92103.9781961Yes
41Rapac NetterElectrical Manufacturing185.2%41.8%422.11203.9NA1964Yes
42blender GanFintech, Financial Services & Insurance174.5%40.0%4.512.3832014Yes
43Trendemonhttps://www.trendemon.comNetanyaIT & Software165.6%38.5%1.74.6152015No
44Peninsula AvivFintech, Financial Services & Insurance162.7%38.0%58.4153.3531970Yes
45Ellomay AvivEnergy & Utilities155.4%36.7%74.6171.2201987Yes
46Photomyne BrakIT & Software151.2%35.9%17.639.8262014Yes
47SHINEZhttps://www.shinez.ioTel AvivIT & Software151.2%35.9%47.7119.9272017No
48Gencell TikvaElectrical Manufacturing145.2%34.9%8.117.91292011Yes
49Nayaxhttps://www.nayax.comHerzliyaFintech, Financial Services & Insurance144.6%34.7%175.13855502005Yes
50Baysberg Teamhttps://www.baysbergteam.comRamat GanAdvertising & Marketing141.7%34.2%3.68.7202013No
51Rotem Shani & Engineering140.9%34.1%149.1359.2161996Yes
52Kornit Digitalhttps://www.kornit.comRosh HaAyinManufacturing126.2%31.3%511.81040.78822002Yes
53Camtek HaEmekElectrical Manufacturing118.9%29.8%442.7871.54041987Yes
54Menif Financial Services GanFintech, Financial Services & Insurance118.3%29.7%55.2120.6NA1999Yes
55YL Marketinghttps://www.yoseflevy.comJerusalemManagement Consulting117.6%29.6%4.39.4242014No
56INUITIVEhttps://www.inuitive-tech.comRa'ananaIT & Software117.6%29.6%8.919.3772012No
57NeoGames AvivLeisure & Entertainment114.9%29.1%84.4163.13362014Yes
58Wixhttps://www.wix.comTel AvivIT & Software110.3%28.1%21704103.359292006Yes
59SolarEdgehttps://www.solaredge.comHerzliyaElectrical Manufacturing109.5%28.0%3368.96346.836942006Yes
60A.M.T Agriculture L.T.Dhttps://www.ets-hasade.comGiv'at AdaAgriculture, Forestry & Fishing105.9%27.2%4.49.172005No
61Fox Gurion AirportApparel & Fashion102.7%26.6%20724200.268001942Yes
62TopGumhttps://www.topgummiceuticals.comSderotFood Tech101.0%26.2%53106.51052004Yes
63SHOEZ AvivApparel & Fashion98.7%25.7%2.75.4142014No
64RACHIP BrakIT & Software98.6%25.7%15.130.11582007No
65M.L.R.N Projects and Trading AvivFintech, Financial Services & Insurance96.7%25.3%44.787.9NA2008Yes
66Pharmocann Global YishayHealth Care & Life Sciences96.0%25.2%14.829462008Yes
67One Software Technologies TikvaIT & Software90.1%23.9%1432.42722.738641973Yes
68StoreYa.comhttps://www.storeya.comRamat HaSharonAdvertising & Marketing87.4%23.3%1731.8122012No
69Orian'inLogistics & Transportation85.2%22.8%598.19969001953Yes
70Azorim AvivConstruction & Engineering83.8%22.5%821.71510941964Yes
71BrainsWay Care & Life Sciences80.9%21.8%58.995.81182003Yes
72HomeBiogas YanaiManufacturing79.2%21.5%58702012Yes
73Ilex Medicalhttps://www.ilexmedical.comPetah TikvaHealth Care & Life Sciences76.5%20.9%601.110614431990Yes
74Nova Manufacturing65.7%18.3%902.71344.810001993Yes
75G Medical Innovations Care & Life Sciences65.2%18.2%1116.3732014Yes
76Quicklizard TikvaIT & Software65.0%18.2%69.8532010Yes
77Identi Medicalhttps://www.identimedical.comNetanyaHealth Care & Life Sciences64.2%18.0%4.98.1212017Yes
78Automatic Banking Systems, Financial Services & Insurance59.5%16.8%69.2110.41041978Yes
79Sapienshttps://www.sapiens.comHolonFintech, Financial Services & Insurance59.1%16.8%1041.4149048001982Yes
80Daniel (Adir Yeoshua) Ltd GanEmployment Services53.4%15.3%14922288.738701974Yes
82Allot HaSharonIT & Software51.9%15.0%344.5470.67411996Yes
83Nextcom YehoshuaMedia & Telecommunications49.7%14.4%345.35173861992Yes
84Aran, Scientific & Technical Services49.3%14.3%137.8205.71801982Yes
85Razor Labs AvivIT & Software48.0%13.9%9.614.2902016Yes
86Shaniv Paper Industry
87Baladi & Beverages45.9%13.4%648.8946.67001916No
88MINDhttps://mindcti.comYokneamIT & Software45.2%13.2%65.285.1NA1995Yes
89Lesico & Engineering44.5%13.0%452.2653.22401969Yes
90Kardan Israel Ltd AvivReal Estate43.4%12.8%455652.6961988Yes
91Elbit Systems
92Polyram Plastic Industries
93AudioCodes & Telecommunications41.3%12.2%633.4804.58851993Yes
94Birman Wood & Hardware
95Tigbur - Temporary Professional Personnel GanEmployment Services39.5%11.7%732.51021.979701981Yes
97Tomedeshttps://www.tomedes.comHolonProfessional, Scientific & Technical Services38.3%11.4%13.418.6252007No
98RoboGrouphttps://www.robo-group.comRosh HaAyinConstruction & Engineering38.1%11.4%42.6531311982Yes
99*Telrad Manufacturing38.0%11.3%466.3578.54001951Yes
100Arad Group measurement37.9%11.3%773.6909.210381941Yes
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This year's fastest growing company in Israel is travel-tech company Holisto with average annual growth of about 460% between 2018 and 2021 and revenue of $15.1 million.

Holisto was founded in 2015 by CEO Eran Shust, CTO Avi Wortzel and CRO Dr. Shay Horovitz. It officially launched its product during the Covid pandemic. The timing saw its revenue grow from $86,000 in 2018 before the launch to $15.1 million in 2021.

Shust says that Holisto came out with the right product at the right time in the right market. The company has developed a technology based on AI that helps customers find the most suitable hotel bookings through a range of channels including travel agents, distributors and hotel chains.

He said, "After almost six years of development we decided to launch our product even though it was in the middle of the Covid pandemic. Our understanding was that people would continue to take vacations in hotels, and they would just do it as part of domestic tourism, without international flights. At the same time, price sensitivity would be higher, so they would look for better value offers. So we decided to launch the product, focusing on domestic tourism in the US."

Shust adds that growth over the last two years is not only because of Covid. "You have to remember that the growth in question started during the Covid and not just over the last year. In fact, in complete contrast to the market situation in those years, which experienced declines, we grew significantly."

As you grow and become a bigger company, is it more difficult to grow?

"I think the answer to this question depends on the point at which each company is, and the market in which it operates. The market in the US alone is worth an estimated at $28 billion. It is quite clear that the opportunity for growth here is huge, so we experience less difficulty. But it is important to remember that the way growth is measured may create the appearance of difficulty. If a company goes from $1 million to $10 million in the first year, and the following year jumps to $50 million, the growth percentages will be significantly higher in the first year (900% versus 500%)."

Reasons for concern - the collapse of SPAC companies

But Holisto has quite a few reasons for concern these days. In a few weeks, Holisto is supposed to start trading on the Nasdaq, when it completes its merger with a SPAC company based on a valuation of $405 million. But judging by the recent past, it is likely that, as happened to the absolute majority of the tech companies that merged into a SPAC recently, Holisto will trade sharply down after the merger. In addition, like many of the companies that have merged into SPACs, Holisto is unprofitable: it ended 2021 with a net loss of $53.5 million.

Until a year ago, Holisto's stunning growth might have attracted many investors. But in 2022, rising inflation, interest rate hikes and the growing fear of a recession in the world's largest economies and in Israel have changed the rules of the game.

Today, in the shadow of macroeconomic changes, the emphasis in the market has shifted from rapid growth to a business model and profitability. The SPAC market has been particularly affected by these changes, with most SPAC-merged tech companies seeing their share price collapse this year.

Shust remains unfazed. "The tourism market is a very unique market. Every time the world experiences a crisis, this market knows how to make adjustments. It's a market that is often driven by the strong emotional need of consumers, and they have accelerated the market to a potential recovery relatively quickly. You saw it after 9/11, after the crisis in 2008 and during the Covid pandemic. Even today in the US, with the economic uncertainty, when consumers were asked what their goals or objectives were, they ranked in first place to repay debts, and in second place by a small margin - to travel as much as possible."


"The Fastest Growing Companies in Israel" is a list of 100 companies based on CAGR (compound annual growth rate) in the period 2018-2021. This is the second year in which Globes is publishing the ranking of Statista's fastest growing companies in Israel. These are the criteria and how the data was gathered.

The criteria

In order to be included in "The Fastest Growing Companies in Israel" ranking, companies must meet the following threshold conditions:

Revenue of NIS 300,000 or more in 2018.

Revenue of NIS 3 million or more in 2021.

Independence (not part of a group that consolidates its financial statements or a branch or office of an international company).

Headquartered in Israel.

Growth between 2018 and 2021 mainly organic (not through mergers and acquisitions).

If the company is publicly traded and was listed before 2018, the value of its shares must not have fallen by 50% or more since 2020.

Data gathering

The data gathering process was carried out on two tracks. The first was that in June 2022 an invitation to register as a candidate for the ranking was published on "Globes'" Hebrew and English websites. Registration was closed at the end of August. At the same time, Statista carried out a market survey to find relevant companies and actively approached them. Next, Statista put together a list of 1,000 companies identified at this stage - even before they had disclosed revenue figures - as likely to have high growth.

The companies to participate in the process and agreed to disclose their revenue numbers in order to facilitate the ranking. The companies were required to provide the data in writing, signed by a senior manager (generally the CEO or CFO). In addition, during the application phase, Statista analyzed the data of 536 public companies that are headquartered in Israel. Of these companies more than 150 where shortlisted and examined in detail in regard to organic growth and all relevant data points. To be shortlisted, companies had to meet the aforementioned criteria and a revenue growth of more than 8%.

Growth rate calculation

The CAGR was calculated on the basis of the figures supplied by the companies and in the designated currency (shekels or dollars). For the sake of comparison, all sums were converted to shekels according to the average rate of exchange reported by the company. The minimum CAGR required to be included in the ranking this year was 11.7%.

Introducing Statista

The survey was conducted by international data company Statista, one of the world's leading data platforms for analyzing strategic markets, statistics and providing research findings.

Statista, which is headquartered in Germany and was founded in 2007, has more than 1,000 employees in 12 cities worldwide. Statista's Research & Analysis Department conducts analyses and research for its customers, who include multinational corporations, more than 2,000 universities and technical schools, leading consultancy and management companies, advertising agencies, trade organizations, banks and financial institutions, political NGOs and many others. Partners to its project in the media and communications include The Financial Times, Forbes, The Independent, El Mundo, Frankfurter Allgemeine, Business Insider, and LinkedIn.


In formulating the "Fastest Growing Companies in Israel" ranking, great efforts were made to obtain as much information as possible on companies worthy of inclusion. Despite these efforts, the ranking does not pretend to be complete. Many companies chose not to publicize their data; others did not participate for other reasons.

Published by Globes, Israel business news - - on December 1, 2022.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2022.

Ranking of the 100 fastest growing companies in Israel
Ranking of the 100 fastest growing companies in Israel
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