Meet Yorkshire's $1bn public company whose shares have risen by more than 500 per cent since May

The share price has risen by 49 per cent since December 30 and 515 per cent since May 2022.

"That’s a major milestone,” chief executive David Richards told The Yorkshire Post. “You very rarely get a company that has organically grown from the ground up to reach such a high public market valuation.”WANdisco, which employs 80 people in the centre of Sheffield, moves some of the world’s largest data sets within the automotive industry, telecommunications, rail and airlines from network edge systems and data centres to the cloud in order to run analysis against huge amounts of information.

It works across all clouds, including Amazon Web Services, Microsoft Azure and Google Cloud, helping businesses that need huge amounts of storage and processing power.

Demand is growing for WANdisco’s services. Last year bookings grew from $11m to $127m and they are expected to top $150m this year.

“We’ve got the only method of guaranteeing that you can move data from A to B without losing any of it,” said Mr Richards.

Moving large amounts of data to the cloud is happening at speed, particularly in industries such as transport and telecommunications because the cloud is more secure and available than traditional data centres. And it is changing the way the world works.

WANdisco is expected to post year-on-year revenue growth of at least 229 per cent, from $7.3m in 2021 to no less than $24m in 2022, according to its most recent trading update.

This record business performance was driven by significant progress in the Internet-of-Things industry alongside major contract wins.

A number of the one-time migration contracts won during 2022 have the potential to expand into commit-to-consume contracts during 2023, the company said.

Recent contract wins include a $9m contract win with a global European-based industrial and consumer goods company to move manufacturing process data to multiple cloud service providers, which was announced last month.