AI and analytics has earned its place as a megatrend currently being experienced by businesses around the world, according to Robert Bromage,
intelliHR founder and managing director.
Indeed, the cloud-based people management and data analytics platform intelliHR has just announced the opening of its IPO to raise $4.5 million at an offer price of $0.30 per share.
The IPO follows the strong demand for the company’s recent pre-IPO raising of $4.0 million.
Bromage believes investors are recognising the early opportunity to gain exposure and participate in this megatrend and the strategic investment they’ve made in the platform.
intelliHR, which launched in 2013, combines the automation of HR processes with data analytics to offer clients high-quality real-time information, along with enhanced productivity and savings on human capital.
Bromage added that the IPO was a “significant milestone” that would help accelerate its growth strategy and allow continued investment in world-first HR technology.
“The IPO is a huge milestone for us and I am excited about the opportunities that lie ahead, both within Australia and abroad,” said Bromage.
Bromage also believes intelliHR will be a global leader in people management technology, and this is another exciting step on that journey.
“The funds we are raising allow ongoing investment in our technology, including innovations such as sentiment analysis tools which we have recently launched into the platform,” he said.
“Through the constant development of our cutting-edge technology, we give organisations a new lens through which they can look much deeper into their business.”
intelliHR Chairman Tony Bellas added that the intelliHR platform is a game-changer for employers.
“This is an exciting and cost-effective solution for businesses who currently use antiquated manual systems, or use multiple, poorly integrated systems and older technology, or simply have no systems at all,” said Bellas.
“The Board supports the vision that Software-as-a-Service (SaaS)-based systems will become industry standard in HR management in the near future.
“The SaaS model lowers costs by allowing businesses to share computing resources, is more scalable and agile than traditional software models, and it is the strong preference, and increasingly the expectation, of employees. intelliHR is well positioned to capitalise on that trend.”
The IPO offer period is expected to close on or before 20 December, with the commencement of ASX trading anticipated for 17 January 2018.
