Record performance by digital firm as it surpasses £2m turnover mark

Liverpool digital specialist Collabco has surpassed the £2m revenue mark for the first time.

The firm’s myday platform provides a digital campus for university students around the globe, including delivering resources like timetables, access to the virtual learning environment, printing and library services, transport timetables and even the menus of on-campus eateries, straight to students’ smartphones.

Collabco said breaking the £2m barrier has been achieved, despite the impact of the COVID-19 pandemic and tough education sector challenges.

The company’s annual recurring revenue has risen from £1.8m, previously, to £2.2m.

And the previous year’s pre-tax profits of approximately £250,000 soared to £750,000 this year.

Headcount has also increased, by 20% since the start of the 2020-21 financial year, to almost 30 staff members in areas such as sales and marketing and product development and customer success.

Collabco says there are plans to continue to grow its team by a further 30% across the business by the end of March 2022.

During the latest financial year the company also welcomed more new customers from across the globe, in the US, New Zealand, Finland and Germany.

Chief executive, Andrew Taylor, said: “That we have finished the financial year as strongly as we have is testament to the incredible Collabco team and our amazing product, myday.

“We are pleased to have welcomed new employees to grow and support our international customer base.”