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Felix operates a cloud-based enterprise Software as a Service (SaaS) and marketplace platform for the commercial construction and related industries. Felix connects Contractors and their third-party Vendors, automating and streamlining a range of critical procurement-related business processes.
The Company launched its online Vendor marketplace in 2013 (now called Vendor Marketplace) which has grown to become a leading marketplace for the Australian commercial construction sector, used by Contractors to source Vendors and Vendors to source new business leads.
In 2015, the Company developed its enterprise solution, Felix, which is now recognised as a best-in-class application by leading commercial construction companies, providing the Company with a second and rapidly growing revenue stream.
Felix’s enterprise customers include tier one Australian Contractors and multinational commercial construction companies. Additionally, the Felix platform is gaining traction in other sectors, with cornerstone customers secured in the government, utilities, mining and resources and facilities management sectors.
Contractors who have adopted the Felix platform typically mandate its use by their Vendors. Growth in Felix’s enterprise customer base has likewise driven rapid growth in the number of Vendors (using the platform and part of the Vendor Marketplace platform) from 10,036 at 30 June 2017 to 39,398 at 30 September 2020. Over 800 of these Vendors are located in 42 countries outside Australia; this has occurred organically as a result of Contractors using Felix on international projects.
Once adopted by Contractors, the Felix platform typically becomes a core part of and deeply embedded within a Contractor's operations, making it difficult to replace. This has led to an approximate 99% retention rate for contracted ARR.
Felix's sales revenues have grown at a compound annual growth rate of approximately 24% per annum since FY18 and revenues from its enterprise solution have grown 467% over the same period. The Company is targeting further revenue growth through converting its significant Contractor pipeline, releasing new modules, increasing penetration of Contractors' project pipelines, continuing to expand its customer footprint beyond commercial construction and increasing the monetisation of its Vendor Marketplace. Additionally, Felix also stands to benefit from the Federal and State Governments COVID-19 stimulus measures, and the recently announced record $110 billion Federal land transport infrastructure program over the next 10 years.
It is anticipated that FLX will list on the ASX during January 2021.
www.felix.net
The Company launched its online Vendor marketplace in 2013 (now called Vendor Marketplace) which has grown to become a leading marketplace for the Australian commercial construction sector, used by Contractors to source Vendors and Vendors to source new business leads.
In 2015, the Company developed its enterprise solution, Felix, which is now recognised as a best-in-class application by leading commercial construction companies, providing the Company with a second and rapidly growing revenue stream.
Felix’s enterprise customers include tier one Australian Contractors and multinational commercial construction companies. Additionally, the Felix platform is gaining traction in other sectors, with cornerstone customers secured in the government, utilities, mining and resources and facilities management sectors.
Contractors who have adopted the Felix platform typically mandate its use by their Vendors. Growth in Felix’s enterprise customer base has likewise driven rapid growth in the number of Vendors (using the platform and part of the Vendor Marketplace platform) from 10,036 at 30 June 2017 to 39,398 at 30 September 2020. Over 800 of these Vendors are located in 42 countries outside Australia; this has occurred organically as a result of Contractors using Felix on international projects.
Once adopted by Contractors, the Felix platform typically becomes a core part of and deeply embedded within a Contractor's operations, making it difficult to replace. This has led to an approximate 99% retention rate for contracted ARR.
Felix's sales revenues have grown at a compound annual growth rate of approximately 24% per annum since FY18 and revenues from its enterprise solution have grown 467% over the same period. The Company is targeting further revenue growth through converting its significant Contractor pipeline, releasing new modules, increasing penetration of Contractors' project pipelines, continuing to expand its customer footprint beyond commercial construction and increasing the monetisation of its Vendor Marketplace. Additionally, Felix also stands to benefit from the Federal and State Governments COVID-19 stimulus measures, and the recently announced record $110 billion Federal land transport infrastructure program over the next 10 years.
It is anticipated that FLX will list on the ASX during January 2021.
Enterprise Vendor Management Software Built for Construction | Felix
Seamlessly manage all tiers of your supply chain from vendor relationship, compliance, performance through to sourcing and contracts.
www.felix.net
