The year 2013 has proved to be an exciting one for Wynyard Group, with the company’s total revenue growing by 63% over the same period last year to $21.7 million, exceeding the IPO prospective revenue forecast.
Recurring revenue was 59% of total revenue and increased 39% to $12.8 million as the business focuses its efforts to expand Wynyard’s global customer base and extend its product leadership position.
Wynyard Group Managing Director, Craig Richardson, says the company would continue to invest for growth in 2014 and 2015.
“Wynyard is strongly positioned in the new fast growing advanced crime analytics market,” he says.
“While the end game for Wynyard is a highly profitable company with lifetime customers, investing for growth and continued momentum is critical at this stage to extend Wynyard’s product leadership position and global market share.”
According to Richardson, Wynyard Group has emerged as a market leader in critical threat assessment and advanced crime analytics software.
The problems Wynyard’s software help solve including drug smuggling, human trafficking, gun running, financial and cyber crime continue to grow in scale, complexity and global impact.
The company raised new capital through an initial public offering (IPO) in 2013.
As a result, Richardson adds that this capital provided the business with the confidence and resources to rapidly expand its international sales, marketing and services operations, and continue investment in its risk management and advanced crime analytics product.