The HR software firm issued 15 million new shares in its oversubscribed IPO
intelliHR Holdings Limited has begun trading on the ASX after a successful $4.5 million initial public offering.
The cloud-based people management and intuitive data analytics software company issued 15 million new shares last week at $0.30 per share under its oversubscribed IPO.
The exchange listing will allow the company to expand its people management solutions in Australia and overseas, improve its branding and align employees and other key stakeholders by allowing equity participation in its growth.
intelliHR founder and managing director Rob Bromage said the company offers an essential core platform for every organisation to manage and retain human talent; providing the necessary tools to align, manage and enable a ‘people and culture strategy’ with a company’s broader business strategy.
“In 2018 we will be enhancing our existing system features which includes our recently launched sentiment analysis tool and further focus on best practice human capital management process innovation and process efficiency,” he said.
“There is also a top-line benefit where a more motivated, engaged and empowered workforce can drive improved organisational performance. We are witnessing this return on investment in our existing clients’ successes already."
Bromage, a former HR consultant, started the company after seeing the need for an intuitive automated software solution to help his clients. He developed a unique software solution, and in 2013, intelliHR was spun off as a separate business.
The company developed its software-as-a-service platform as a single suite of people management tools. It provides automation and produces analytics that incorporate machine learning and Natural Language processing tools.
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