Released to ASX on 22 January 2018
- Gooroo delivers 100% revenue growth in Q2 as momentum builds
- Continued acceleration expected
The Board of Gooroo Ventures Limited (“Gooroo” or “the Company”) is pleased to advise that revenue continues to gain momentum.
The Company delivered a 100% increase in earned revenue in Q2 ($69k Q2FY18 compared to $34k Q1FY18), and will be aiming to replicate the growth trend over the coming quarters as awareness and adoption builds.
In mid 2017, the Company begun marketing its enterprise technology platform in Australia. Gooroo has since signed a number of subscription agreements with leading recruiters and organisations such as KPMG, Randstad, Xpand Group and Kinetic IT.
Gooroo is a strategic workforce planning and people analytics platform. It uses artificial intelligence and neuroscience to reduce an organisation’s hiring risks and costs. Gooroo is the only platform that can predict role and team fit, design high performing teams, and prepare both organisations and societies for a future to be dominated by technology and change.
The Company is currently focused on building strategic distribution partnerships and direct sales, while committing to the goal of cashflow positivity.
“Just 6 months in and we are very pleased to report that Gooroo is now very much on the move. Our technology is unrivalled globally, capable of delivering value that can underpin the strategic futures of corporations around the globe. Gooroo is a generational product offering a new paradigm for how organisations design their workforce of the future. Building momentum takes time but we are confident that we have the product and pipeline to deliver impressive growth for our shareholders this year, and the intellectual property to be a sustainable global market leader,” comments Mr Greg Muller, CEO Gooroo Ventures.
In late October 2017, the company lodged a patent application describing the method for how we as human beings go about making decisions in our life; at home and at work. This patent protects Gooroo’s unique ability to establish relationships between how we think and our future decision making. Progressively the Company has been releasing new features that leverage this capability, increasing its strategic value to the transformation of customer’s businesses as they face the challenge of the new world of work.
“I would like to thank our longer-term investors for their patience,” says Mr Tom Brown, Chairman Gooroo Ventures. “We are confident that the coming 12 months will represent a wonderful opportunity for the company. While Gooroo is early in its commercialisation efforts, the Board is pleased with progress being made and results are in line with expectations.”