Join us for an insightful webinar where we...
Wherescape yields record fourth quarter, reconsidering listing (NBR)
Data warehousing business WhereScape will reconsider going public from next month after being put off last year by the plethora of growth companies listing. The Auckland-based company made noises about listing last year – with an offer reportedly at $40 million – but backed out because the timing was not right. WhereScape chief executive Michael Whitehead tells NBR ONLINE there were just too many companies listing at once, especially tech companies, so did not want to be squeezed out.
“We’re profitable and growing and we don’t have an urgent need to list, so we can be flexible in terms of timing,” he says.
However, the company does want to go public at some point to give it more liquidity and greater credibility with potential overseas customers, and will reassess listing on the NZX main board at the end of this month after the close of its financial year, which Mr. Whitehead says is its best since starting up 12 years ago.
“The risk with being privately held is questions about the business cannot be so transparently and easily answered. It gives us more credibility to be listed, when financial records must be made public and potential customers know we’re being held to account by strict NZX rules,” Mr. Whitehead says.
WhereScape’s February quarter was its best ever, says Mr. Whitehead, with revenue hitting the $8.4 million mark. A record December contributed more than $3 million to the quarter, with software sale growth up almost 40% on the previous December. Software sales were up 66% on the year to February on last year’s figures.
Increasing use of big data means businesses not using it will become disadvantaged, and this will help the WhereScape’s expansion – particularly in the US, where it recently signed on a number of health insurance providers, Mr. Whitehead says.
WhereScape has about 700 customers in 15 countries, including Spark New Zealand, Vodafone, Volvo, and UK retail giants Tesco and Sainsbury’s.
Boosted fortunes
The company’s growth has been spurred along by the government’s Callaghan Innovation, which recently gave it $900,000 to spend on research and development over the next three years. The company spends 15% of its revenue on R&D costs.
Venture capitalist Pioneer Capital have also plugged in two lots of capital; it invested about $10 million for 36% ownership in November 2013, and then lifted its stake to 43% in December last year. Mr. Whitehead owns 45% of the company, personally and through WhereScape Nominee.
The company has recently opened a Wellington office with four staff. It also has offices in Auckland, Reading, Portland and Singapore, and has employees in Belgium to work throughout mainland Europe.
Originally posted in the NBR, Monday March 16, 2015; by Calida Smylie
Experience the Power of WhereScape 3D 9.0.3: New Features and Improvements
We’re thrilled to introduce our latest iteration of WhereScape 3D! Version 9.0.3 brings a host of new features and enhancements designed to make your data warehousing journey smoother, faster, and more efficient. Let’s dive into the details of what you can expect from...
Ahead of the Curve: Future Trends in Data Automation and WhereScape’s Pioneering Solutions
The Evolving Landscape of Data Automation As new technologies emerge and existing tools constantly change and improve, the world of data automation transforms rapidly. Even the most well-versed data teams find themselves disoriented and overwhelmed in the face of...
Investing in Data Automation: A Strategic Approach to Business Growth
Unlocking Growth: The Strategic Advantage of Data Automation Organizations reaping the benefits of data automation stay ahead of industry trends and improve the efficiency of their operations and decision-making. Data automation tools offer a strategic advantage for...
Data + AI Summit 2024: Key Takeaways and Innovations
The Data + AI Summit 2024, hosted by Databricks at the bustling Moscone Center in San Francisco, has concluded with remarkable revelations and forward-looking innovations. Drawing over 16,000 attendees in person and virtually connecting over 60,000 participants from...
WhereScape RED 10.1 is Here: Enhanced Scheduling and Customization
We’re proud to announce the highly anticipated WhereScape RED 10.1 is now available, and it’s packed with exciting new features and enhancements designed to make your data warehousing experience more efficient and enjoyable. Let's take a closer look at what’s new and...
Supercharging Data Integration: The WhereScape and Databricks Advantage
The demand for robust data management systems has never been higher, and Databricks has quickly become a favored choice for cloud-based solutions. Its powerful capabilities make it a top contender for managing large-scale data, but when combined with WhereScape's...
Empowering Customer Success: WhereScape’s Comprehensive Support and Training Resources
Enhancing Operational Success with WhereScape’s Support Systems At WhereScape, we understand that a data warehouse is only useful to the extent that it is understood. In order to drive your organization closer to your key goals and objectives, you need full mastery of...
Revolutionizing Day-to-Day Operations: The Power of Automated Data Integration
The Transformational Role of Automation in Data Management Across industries and business stages, organizations of all types manage data in their daily operations. Whether that data entails patient appointments and reminders in a healthcare clinic, student performance...
Gartner® Insights: Microsoft Fabric as a Unified Data & Analytics Platform
Are you ready to revolutionize your data management strategy with a platform that promises to simplify and enhance your operations? According to a Gartner poll, 43% of respondents believe that the data and analytics ecosystem will significantly influence their choice...
WhereScape and YellowFin Attending World of Data in Munich
We are excited to announce that WhereScape and YellowFin will be attending the World of Data conference in Munich on June 6, 2024. This event will bring together data professionals, industry leaders, and technology enthusiasts from around the globe to explore the...
Related Content
Experience the Power of WhereScape 3D 9.0.3: New Features and Improvements
We’re thrilled to introduce our latest iteration of WhereScape 3D! Version 9.0.3 brings a host of new features and enhancements designed to make your data warehousing journey smoother, faster, and more efficient. Let’s dive into the details of what you can expect from...
Ahead of the Curve: Future Trends in Data Automation and WhereScape’s Pioneering Solutions
The Evolving Landscape of Data Automation As new technologies emerge and existing tools constantly change and improve, the world of data automation transforms rapidly. Even the most well-versed data teams find themselves disoriented and overwhelmed in the face of...
Investing in Data Automation: A Strategic Approach to Business Growth
Unlocking Growth: The Strategic Advantage of Data Automation Organizations reaping the benefits of data automation stay ahead of industry trends and improve the efficiency of their operations and decision-making. Data automation tools offer a strategic advantage for...
Data + AI Summit 2024: Key Takeaways and Innovations
The Data + AI Summit 2024, hosted by Databricks at the bustling Moscone Center in San Francisco, has concluded with remarkable revelations and forward-looking innovations. Drawing over 16,000 attendees in person and virtually connecting over 60,000 participants from...