British success story driving global growth off the back of world class innovation
27 January 2015
Award-winning workplace solutions provider Condeco reports record growth across sales, customers, partners and staff in 2014
London, UK – 26th January, 2015 – Official GDP figures due out tomorrow are expected to show that the economic growth of the UK has returned to pre-financial crisis levels. The new data comes just a week after David Cameron issued a call for Britain to overtake Germany and become a nation of “full employment”. With British-based Shazam recently valued at £1bn, the UK is also starting to show signs of creating its own “billion dollar club”, with innovative technology companies like Condeco Software firmly in the frame.
The government will be relying on fast-growth companies such as Condeco, which saw global turnover increase a record 51 per cent this year to $25m, to continue to create hundreds of jobs. The London-based workspace utilisation and space scheduling business, founded 10 years ago, has now expanded to nine offices around the world, including the US and Asia. With much of this growth achieved while the UK was in deep recession, Condeco has demonstrated a powerful ability to buck the economic trend.
Paul Statham, founder, MD and CEO of Condeco, said: “Our rapid growth has been powered by our world class solutions being adopted by the CEOs of large multinational corporations, who have come to rely on us to drive efficiencies and optimise one of their most valuable investments – real estate. The record 300 per cent growth we have achieved over the last three years has been driven by the optimisation of the workspace reaching the top of the boardroom agenda.
“The growth in popularity of flexible working has put greater pressure than ever before on senior business leaders to optimise how their workspace is used. One of the biggest challenges is premium office space standing empty as staff work from home, or compete over double-booked meeting rooms and limited collaborative space – equally frustrating and damaging for productivity.”
The widespread adoption of Condeco’s sophisticated software and digital signage for measuring, monitoring and validating the workspace has seen sales grow by more than 300 per cent from £3.4m in 2011 to £10.5m in 2015, establishing the company on the prestigious Sunday Times Tech Track 100, which records the UK’s top technology companies. Its fast-growing US operations also recorded growth of over 185 per cent.
AllState, Omnicom, PwC and Unilever are among the leading global companies that began working with Condeco in the last year, swelling its client base to over 500, including 30 of the FTSE 100.
Hiring great talent to build a strong culture has also been a top priority for the company, with nine global offices now established and a global staff growing to almost 200 across the UK, US, India and Dubai, and new offices in EMEA and AsiaPac. Major global partners including HiTouch Business Services, Ricoh and Sodexo, also began utilising Condeco’s technology to deliver joint global solutions with compelling ROIs.
Paul continued: “Continuous innovation has always been at the heart of the company. The current workplace scheduling and measurement industry is just the tip of the iceberg, and as market leaders we are continuing to pioneer new solutions to enable the world’s leading companies to bring real business benefits and drive growth.”
Condeco has also seen its disruptive new workspace occupancy sensor Condeco Sense successfully implemented across more than 10,000 desks in 17 companies after first launching in April. The first on the market to be designed specifically for workplace occupancy measurement, Sense uniquely deploys mesh networking to allow hundreds of devices to run through a single gateway, allowing it to be smaller, sleeker and more cost-effective than any other sensor on the market.
Condeco’s position as market leader in the burgeoning workspace measurement sector has enabled it to capitalise on a year that saw the strongest performance from UK tech companies since the 2007 financial crash. Research from KPMG/Markit not only saw record confidence and investment from tech firms, but also put the sector’s growth ahead of the rest of the UK on the growth index.