Sarat Pediredla and Mark Forster have earned a place on the Tech 100, an initiative from the Great British Entrepreneur Awards that acknowledges those driving forward technology.
The recognition follows nine months of growth at the app developer, in which headcount rose from 30 to 83.
Revenues are also set to be up at least 160% on last year, following the completion of the company’s first ever seven figure contract.
The project - worth £1.1m per year for at least two consecutive years - saw it build Android and iOS platforms for the Hong Kong-based customer, Central Wealth Financial Group.
The company provides an online marketplace based on a bespoke cryptocurrency derived from Bitcoin, through which it connects merchants and business customers, primarily in the wholesale market.
Mr Pediredla, Hedgehog Lab’s CEO, said: "This represents a step-change for us.
"We are now playing in the big league, effectively competing with companies such as IBM and Accenture.
"That means we can continue to invest in our expertise and resources, helping us move our organisation into the next level."
The company had only six weeks or so to turn the project around - but has since received first-class feedback on the end result.
"The team showed amazing dedication and technical expertise, often working beyond their normal hours to ensure the deadline was met," said Alan Morris, hedgehog lab’s Technical Director.
"This allowed us to gain the trust of an international client."
Established in 2010 as a ‘post-PC’ digital consultancy, Hedgehog Lab focuses on apps for devices like smartphones, tablets and wearables.
Mr Pediredla added: "This list covers the entirety of Britain and, as you might imagine, includes a majority of names from companies based in London. So for a North East business to make it on there is, I think, a real privilege; clearly this is a direct result of the incredible year we’ve had.
"I’d like to pay tribute to our ever-expanding team for the talent, creativity and sheer hard work that has got us to where we are."
Nick Winters, tech sector lead partner at Kingston Smith, which is sponsoring the awards, said: "The technology sector has always been viewed as a key area for entrepreneurs to succeed, and the opportunities continue to flow for those who are keen to triumph.
"These awards dovetail with our own values and ethos of advising entrepreneurial businesses on achieving their full potential."
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