Grant Fraser, Digitonic CEO
Glasgow-based smart mobile marketing specialist, Digitonic, has reported a 44% revenue growth in the financial year ending October 2018.
The impressive increase in turnover for the company, which was founded in 2011 and provides smart mobile marketing solutions via proprietary technologies, follows a number of new client wins and strong retention of existing customers during the period.
Commenting on the figures Grant Fraser, Digitonic CEO and co-founder, said: “Digitonic has a proven track record of delivering a strong return on investment for some of the world’s biggest brands, in sectors including automotive, gaming, travel and retail. As a result of this, over the course of the past year, we have been able to rapidly grow the business due to a combination of new wins and growing existing clients. Our impressive increase in turnover in the period reflects this and we are delighted with the successes we have achieved.”
Following last year’s impressive performance, the business is having to fast track a move to new offices to support growth. During Q1 2019 the company will relocate to a facility three times bigger than its existing office, while remaining in Glasgow city centre.
To support this growth the company will also be embarking on a recruitment drive, increasing its number of employees by more than 33% to 25. New positions will be created in the marketing and client relationship teams, as well as the technical department where the company will appoint a minimum of three new Laravel/PHP developers.
Fraser added: “We have enjoyed a strong start to 2019, seeing like-for-like revenue increases of 52% during December and November compared to the previous year. As such, we are on track to increase turnover by over 100% in this financial year with sales exceeding £5million. This is an exciting time for the business and we are looking forward to kicking on from last year, supported by a number of new hires from a larger facility.”
Digitonic is currently the only member of both the Entrepreneurial Scotland ‘Scale-up Scotland’ programme, a network of entrepreneurial leaders that have the potential drive Scotland’s next generation of economic success, and the University of Strathclyde’s Growth Advantage Programme, a scheme that delivers relevant, accessible and practical learning for the leaders of ambitious businesses in Scotland.
Commenting on Digitonic’s performance Sandy Kennedy, CEO of Entrepreneurial Scotland, said: “This is a great result for the Digitonic team. We are thrilled to see Digitonic, one of the first Scale-up Scotland cohort, making such exciting strides forward in its ambitious scaling journey. I am pleased to see the impact our blend of entrepreneur-led sessions and peer-to-peer challenge is having on helping successful businesses get to the next level. It is businesses like Digitonic that will lead the way in creating sustainable jobs as Scotland continues its mission to be the most entrepreneurial society in the world.”
John Anderson, head of SME Engagement and Programme Director, Growth Advantage Programme, commented: “Digitonic invested in our unique mix of world class executive education, proven toolkits and peer learning when it joined the Growth Advantage Programme at Strathclyde Business School in 2016 and the impressive growth that they continue to deliver is absolutely consistent with their fellow participants.
“The 53 companies that have completed the Growth Advantage Programme since 2015 had an average turnover of £2.1m when they started with us and at the end of their 10-month journey were projecting average sales of almost £5.1m within three years – nearly 2 and a half times greater.
“Average employment at the start of the programme was 25 and projected to more than double to 53 within three years. As Digitonic has shown, this stuff works and clearly demonstrates why the ScaleUp Institute has endorsed the Growth Advantage Programme and I look forward to continuing to support the Digitonic team as they target further disciplined growth.”
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