INTERVIEW: Why SmartSpace Software acquired SwipedOn nearly 12,000 miles away

SmartSpace Software Plc (LON:SMRT) CEO Frank Beechinor talks to DirectorsTalk about the acquisition of SwipedOn. Frank explains what has been happening to the business since the restructuring in July, the rationale behind its acquisition strategy, why they acquired SwipedOn some 12,000 miles away, how entry level SaaS fits in with the business model and where Frank expects the business to go from here.

Acquisition Highlights

· SwipedOn has customers in 39 countries and is growing by over 100 customers every month with an impressive base of clients in the USA, Canada, UK, Australia and New Zealand

· Annual Recurring Revenues of approximately NZ$1.7 million (£0.8 million), growing at +100% per annum

· SwipedOn has a Customer Acquisition Cost (“CAC”) of NZ$609 with a Life Time Value (“LTV”) of NZ$6,700

· Excellent customer satisfaction with a Net Promoter Score (NPS) of 60 with high customer retention and revenue churn of less than 6% per annum

· Highly experienced management team and staff comprising 19 employees who will remain with the business

· Supports SmartSpace’s strategy to broaden and build its SaaS revenue as well as offering software solutions for Enterprise, mid-market and entry-level customers across the globe

· Broadens SmartSpace’s existing software offering and focus on technologies that make corporate real estate more efficient and businesses more effective as a result

SmartSpace Software plc is building a SaaS orientated software business, designing and building software centering around its ‘Connect’ software platform and ‘OneSpace’ occupancy management software, to help people work smarter and more efficiently on a global platform. The Company’s software solutions in workspace, retail and hospitality help transform employee and customer engagement with software modules which include: desk and meeting room management, wayfinding, car parking, visitor management, frictionless vending and space management.

Click to view all articles for the EPIC:
Or click to view the full company profile:
Share on facebook
Share on twitter
Share on linkedin
SmartSpace Software

More articles like this

SmartSpace Software

7 employee engagement insights from 2020

2020 saw the rise of employee engagement as a key business objective. The global pandemic shifted workplace dynamics and heightened anxieties, which drove employees to become more concerned and engaged with workplace culture and benefit offerings. As of March

SmartSpace Software

2020: A year in review with SwipedOn

While 2020 was a year that most people were glad to see the back of, we believe there were highs along with the lows. Here at SwipedOn, we continued to develop the product, grow our team, and receive

SmartSpace Software

Key lessons COVID-19 has taught us about access control

It has been many  months since the global pandemic was declared, and it permanently changed our society. Just as, with the fallout from the 1918 Spanish flu, healthcare, workplaces, and society will never be the same.  The good news

SmartSpace Software

Debunking 6 common myths about visitor management systems

Visitor management systems have become increasingly common in workplaces. Unfortunately, many people do not yet understand their benefits, and many businesses are not taking advantage of everything visitor management systems have to offer. Some business leaders may feel

SmartSpace Software

7 ways to manage workplace reentry anxiety for employees

Organizing a safe return to the workplace and managing reentry anxiety are top priorities for businesses planning to reopen in 2021. However, planning on its own won’t be enough. In a Weber Shandwick survey, just 6% of workers in the

SmartSpace Software

The importance of contact tracing during the coronavirus pandemic

The benefits of contact tracing cannot be understated. In addition to highly anticipated COVID-19 tests and vaccines, public health officials know that the end of the pandemic also depends on effective contact tracing efforts.  According to an analysis by the Lancet