Glasgow video tech platform on track to double revenue to £3m amid pandemic
A video technology platform specialist based in Glasgow is on track to more than double revenue to £3 million after a surge in demand since the onset of Covid-19.
Odro, which provides a technology platform for recruitment agencies, has also doubled headcount over the last 12 months and plans to hire ten more people to its existing headcount of 38 before the end of 2020.
The firm said it has benefited from the increased speed of digital transformation within the recruitment industry in the wake of the pandemic. The boom in remote working has also led to strong take up of the company’s video platform.
Odro raised £100,000 of seed funding from external investors in 2015 and has been self-funded since, although the firm has not ruled out a further investment round in 2021.
Chief executive Ryan McCabe said: “It’s been a challenging time for our client base, as it has been for so many people and businesses across the globe.
“We worked really hard in the first few weeks and months of lockdown to be there for our clients and do everything we could do to help. I couldn’t be prouder of the team here. We’ve had our own challenges of course, but to come through recent times in even stronger shape gives us a lot of confidence for the months and years ahead.”
He added: “We’ve attracted a lot of interest from the private equity community over the last six months and it’s good to progress those conversations in case we decide that the right kind of investment round is going to allow us to grow even quicker.”
A message from the Editor:
Thank you for reading this article. We’re more reliant on your support than ever as the shift in consumer habits brought about by coronavirus impacts our advertisers. If you haven’t already, please consider supporting our trusted, fact-checked journalism by taking out a digital subscription: www.u2swisshome.com/subscriptions
Want to join the conversation? Please or to comment on this article.