GoReport annual revenues top £1m

Having recently secured £0.5m in VC funding, Belfast-based mobile surveying application developer GoReport says annualised revenue has topped £1m, and its looking to expand in 2019.

GoReport logo 2018Belfast, Northern Ireland-based mobile surveying application developer GoReport says annualised revenue has topped £1m. Turnover grew 60% in the year to 31 March 2019, and are up 128% since 2017.

Led by CEO Anthony Walker, a RICS PropTech leader who joined the firm in November 2018 (post), GoReport has grown to 22 staff and is aiming for 100% growth in revenues in 2019 as traction in the growing market accelerates. Currently recruiting, the firm aims to add more staff in Northern Ireland and Great Britain. To fund its expansion, the company secured a £500,000 investment from Belfast-based venture capital fund manager Crescent Capital earlier this month (June 2019), with Crescent investment director Bob McGowan-Smyth joining the GoReport board as a non-executive director.

The firm’s software is used by building surveyors and engineers, project managers, fire safety consultants, insurance loss adjusters and many other professions who have a need to capture data easily, flexibly and generate consistent outputs quickly. Walker, right, says: “We’re enjoying a combination of growing market awareness, an increasing adoption of technology across the property sector, interest from related sectors and industries, and a drive by clients to capture more data to inform their business operations.”

GoReport digitises data capture and reporting processes to help property professionals reduce the time taken to generate survey outputs. The resulting uplift in customer experience has helped the firm increase their customer base by 100% from the previous 12-month period.

GoReport digitising survey data capture

Founded by Conor Moran, the business launched its iPad-based application in November 2012 (post). Its software was originally developed to help commercial and residential property surveyors and other professionals capture building surveying and project management data rapidly and more easily than the traditional method of manual note taking, dictation and photography. Walker continues:

“As a profession, surveyors’ day-to-day work for clients involves a significant amount of report writing which, done in the traditional way, can take up an inordinate amount of valuable time. With productivity proving a persistent issue, technology and how data is captured has an even greater part to play.”

Users of the software include all types of specialist surveyors ranging in scale from national property consultancies with multiple offices to independent surveyors. Recent interest in the platform from the social housing, insurance loss adjusting and fire safety sectors has broadened the firm’s potential market opportunities, with specific solutions tailored to a growing range of sectors that have field engineers and operatives recording data on-site.

GoReport chairman David Bell says:

“We’re aiming to positively disrupt the sector with tools that bring the profession in line with other data-enabled business functions, as well as delivering efficiencies to property consultancies, and the growth in new users this year demonstrates the growing demand. The recent move into supporting related property management and facilities sectors, including fire prevention, social housing and insurance, is also exciting and I look forward to the next level on our growth journey.”

Update (26 July 2019) – In July 2019, GoReport announced Anthony Walker had been appointed a Fellow of the Society of Chartered Surveyors Ireland.

Permanent link to this article: http://extranetevolution.com/2019/06/surveying-app-goreport-annual-revenues-1m/