Next Investors logo grey

Invigor Group secures $775,000 in new work for its workforce management solution


Published 20-MAR-2018 12:34 P.M.


2 minute read

Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.

In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.

The below articles were written under our previous business model. We have kept these articles online here for your reference.

Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.

Click Here to View Latest Articles

Invigor Group Limited (ASX:IVO) this morning confirmed that its mobile workforce management solutions division has secured new contracts and signed work orders for Skyware of €485,000 (~A$775,000) over the last three months.

Skyware, soon to be rebranded as Tillerstack, is a unique cloud-based platform assists ecommerce companies in managing mobile workforce deployments to streamline delivery and mobile order management. It includes automated GPS-assisted field force dispatching as well as mobile order management functionality, which can deliver cost savings and greater productivity.

The new contracts include significant recurring revenue from Unity Media Group, which is Skyware’s longest standing customer, together with leading European renewable energy production group, Enertrag, as well as Edeka, which is one of Europe’s largest food retailers.

Skyware’s growing order pipeline for 2018, in conjunction with the addition of the new contracts and work tenders, means IVO is confident that Skyware is well on track to meet the revenue target of $2 million for 2018, and with substantial opportunity for growth in ensuing years.

IVO has also confirmed that it banked $500,000 from the Sophisticated Investor, which provides the Investor with the option to convert to a 5% cornerstone shareholding in Tillerstack, which will house Skyware following the sale of Condat.

The Investor group has agreed to exercise its option to invest a further A$500,000 with the option to convert into Tillerstack on the same valuation metrics, resulting in a total A$1 million investment for 10% of IVO. IVO will assess opportunities to unlock the value of TillerStack for all shareholders.

It should be noted, however, that this is an early stage tech company and success is no guarantee. Investors should seek professional financial advice before making an investment.

Invigor CEO, Gary Cohen said: “These new contracts and work orders again confirm the outstanding growth potential of Skyware, and it further strengthens the sales and revenue pipeline for this very high growth division of Invigor’s.

“This potential is also reaffirmed through the $1 million investment we have secured for a potential 10% stake in Tillerstack, which will enable the Company to accelerate its plans to unlock the value of this fast growing business.

“Overall, we are very pleased with the progress being made with the Skyware division. More updates are pending.”

General Information Only

S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.

Conflicts of Interest Notice

S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.

Publication Notice and Disclaimer

The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.

Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.

This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.