LoopUp has developed a software-as-a-service product for remote business meetings which combines advanced technology with extreme simplicity and ease of use. The group is seeing good traction with enterprise customers, and its process-centric and team-based sales approach lends itself to rapid scaling. The acquisition of MeetingZone in 2018 added very significant scale and brought synergy opportunities. With strong gross margins and powerful growth metrics, the group has material expansion plans for the short to medium term and should be able to deliver material dividends to investors in the long run.
LoopUp provides corporate customers with an innovative, sleek and easy-to-use remote meeting solution. This allows users to manage, monitor and control guests, saving on wasted time, improving security and providing a smooth user experience. Added extras (screen sharing, call recording, video etc) can be incorporated without complicating the process or confusing guests. We at Progressive are active and frequent users of the system and can absolutely vouch for its reliability and ease of use – this includes the recently-added video functionality.
This “lean” offering has found favour amongst heavy users of traditional conference calls as well as those who find technology-heavy software platforms overwhelming and overly complicated in a live, multi-party setting. Organic LoopUp revenue grew by 20% in FY 2018 at constant currency within overall growth of 96% including MeetingZone.
MeetingZone, acquired on 4 June 2018, is a UK-based traditional conferencing services provider with approximately 6,000 customers worldwide. LoopUp management continues to expect the £61.4 million cash acquisition to be materially enhancing to the adjusted basic earnings per share in the first full financial year of ownership.
We look at the landscape for remote meetings, LoopUp’s position within this segment and focus on its innovative “pod”-based selling structure. We analyse how LoopUp grows its pod numbers through redeploying experienced personnel and can accelerate this established process using its ‘Pod Academy’ training programme.
Unusually for a technology company, the group’s product is very easy to experience – interested investors can visit www.loopup.com, watch the various videos, and even take a free trial of the service.