LIVEHIRE LISTS WITH $10M IPO TO FUND EXPANSION

Written on the 10 June 2016

LIVEHIRE LISTS WITH $10M IPO TO FUND EXPANSION

TECHNOLOGY company LiveHire (ASX:LVH) is set to accelerate growth plans after raising $10 million through an IPO.

A total of 50 million new shares were issued at 20c apiece, with the shareprice settling at 19c after commencing trading on the ASX today.

LiveHire was launched in 2011 as a marketplace connecting employers with talent on-demand in the resources sector.

The Melbourne-based company now offers a cloud-based human resources productivity platform aimed at all enterprises, to turn recruitment from reactive to proactive. A client's brand is leveraged into a private community with hiring managers and potential candidates.

LiveHire co-founder and managing director Antonluigi Gozzi says the capital will be used to pursue new markets in Australia and develop sales capabilities.

"Amongst other things, listing on the ASX provides us with the capital to expand our sales team and achieve significant growth for the business, primarily focused around our key performance metric, Talent Community connections, as well as transparency and awareness for potential clients to have comfort we are a technology company that will continue to deliver above and beyond their needs," Gozzi says.

LiveHire's 'Talent Community Connections' have increased 183 per cent at the end of last year to more than 130,000 users.

Growth is expected to continue with a number of cornerstone clients in targeted industries in the works. The company has already partnered with Ernst & Young, Michael Hill, Bupa and Ertech.

Morgan & Banks co-founder Geoff Morgan has been appointed to the board as non-executive chairman, after backing the venture with business partner Andrew Banks last April.

"We have an established value proposition for our clients and a clear strategy to take the business to the next stage of its development," Morgan says.

"Listing on the ASX will enable LiveHire to scale our client and user base, accelerate our sales and marketing efforts and partner with select recruitment partner firms."

 


Latest News

FLYING START TO 2017 PASSENGER NUMBERS FOR GOLD COAST AIRPORT

RECORD numbers of travellers used the Gold Coast Airport (GCA) in January this year, continuing a five-year trend ...

SUNCORP SAYS IT'S 'COVERED' AGAINST FINANCIAL COST OF CYCLONE DEBBIE

INSURER Suncorp (ASX: SUN) says it is "well protected" against the financial impact of Cyclone Debbie th...

ADELAIDE DIGITAL MARKETING GURUS CHANGING THE FACE OF ONLINE RETAILING

Frank Grasso, CEO of Adelaide based Dynamic Creative, believes his company's new software will revolutionise Adwo...

WHY A JUNIOR MINER DECIDED TO JOIN THE RANKS OF THE HOT POT STOCKS

USUALLY, when a relatively unknown explorer experiences a sharp spike in its share price, it means they've fou...

Related News

RAY OF HOPE FOR SLATER AND GORDON AS LENDERS STEP IN

EMBATTLED law firm Slater and Gordon (ASX: SGH) has announced to the ASX that it has launched confidential discussion...

SPROUTX PROVIDES THE SEED FOR AGTECH STARTUPS

AGTECH innovation fund SproutX has opened applications for its first accelerator round, backed by $10 million from...

GAS PRICES MAY FORCE BRICKWORKS TO TAKE MANUFACTURING OVERSEAS

BRICKWORKS Limited (ASX:BKW) chairman Robert Millner says soaring energy prices may force the company to turn to offs...

CHINA CONTINUES TO COLLECT AUSSIE PROPERTY ASSETS

CHINESE coin continues to dominate Australia's offshore real estate investment market, accounting for almost h...

EVENTS COMING UP

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter