Red Eagle Tech, a software development firm based in London, has recorded revenue growth of more than 500 per cent year-on-year as it marks its second anniversary. Established in February 2024, the business develops bespoke cloud infrastructure, AI integrations, and custom applications for small and medium-sized enterprises across the UK.

The company operates using a fixed-price model for every project rather than billing by the hour. Under this structure, the cost is agreed upon before work commences, and the firm covers any additional costs if a project exceeds the estimated timeframe.

Founder Kat Korson stated that this model has been the primary driver of the company’s expansion. “When an agency bills by the hour, they’re incentivised to take longer,” she said. “We flip that. We take on the risk of delivery, not the client. If we run over, we pay for it, not them.”

The business was launched to provide services for UK small businesses that have outgrown basic platforms but find traditional agencies too unpredictable for their budgets. The firm aims to offer custom software development without the risk of costs increasing unexpectedly.

Over the last two years, the team has completed projects in sectors including e-commerce, retail, and professional services. One such project resulted in the development of MeldEagle, a Shopify automation tool now available as a standalone product.

Kat Korson noted that demand has increased as more businesses seek to replace manual processes with software. “British businesses are hungry for accountability,” she said. “They don’t want a ticking meter. They want to know what they’re getting and what it costs.” As the firm enters its third year, it is increasing its focus on AI integration, including autonomous agents and workflow automation. The company is headquartered in London and employs a team of engineers and designers.

Image source: LinkedIn