ShareRoot Ltd (ASX:SRO) is continuing its strong client growth momentum, with six new clients signing onto the ShareRoot platform in Q3 2016 (September quarter).
Based in Silicon Valley, ShareRoot offers a Software as a Service (SaaS) platform that works with brands and digital agencies to find and legally source user generated content (UGC).
These new client wins demonstrate the growing visibility and acceptance of ShareRoot’s UGC offering.
The company had delivered a strong growth in the sales pipeline of qualified leads to over US$250,000 of annualised potential sales in the June 2016 quarter, representing a 12x increase from the preceding quarter.
Last month, ShareRoot secured its first Australian client - Digital Fuel, an online digital agency that helps its 15 plus online gaming and betting clients maximise their sales and online visibility.
With ShareRoot’s sales team building a strong potential customer pipeline, the company is expected to further its sales pipeline growth in the short term.
The company is well funded to continue pursuing its growth strategy with cash at bank of $2.3 million as at 30 June 2016.
The broader UGC space has been witnessing high activity recently, including the acquisition of Olapic for US$130 million by Monotype Imaging Holdings Inc (NASDAQ:TYPE).
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