Home » Little-known London tech firm reaps £236 million in revenue

Little-known London tech firm reaps £236 million in revenue

by Tech Reporter
2nd Nov 23 11:38 am

UK headquartered The Adaptavist Group grew 41 per cent in FY2023 achieving revenues of £236m for the first time.

The group, a family of leading technology companies and innovation experts focused on making businesses collaborate and work better, saw strong growth in key markets such as Germany, the UK and North America both within and outside the Atlassian ecosystem, with close to 23,000 customers worldwide in more than 160 countries.

The Adaptavist Group headcount is now 1,000 with 40 per cent based in the UK, making the Company one of the country’s larger employers.

An increased global demand for online services and business transformation consultancy is a critical factor in the company’s growth. According to a report by McKinsey, spending on digital transformation technologies and services worldwide increased to $1.6 trillion in 2022, and is projected to reach $3.4 trillion by 2026.

The Adaptavist Group’s CEO, Simon Haighton-Williams said, “The level of growth this year is staggering. For example, 60 million users alone have used an app from The Adaptavist Group to deliver enhanced value in the last 12 months.

“Our financial growth has been driven to a large degree by an increased focus on business digital transformation as well as by the fact that our customers include some of the most innovative and fast growing companies in the world. It’s our customer’s vision and ultimately the unique talent we have within The Adaptavist Group that is driving our success.”

The Adaptavist Group has reached 1,000 employees worldwide after establishing a presence in a number of new territories including Italy and Switzerland as well as continued growth in key markets including Germany, North America and the UK.

Haighton-Williams said, “We are a people first business so this milestone is hugely significant. Process and tools will take you so far but people are the most important asset of a business, and supporting and recognising the talent we have within The Adaptavist Group is something that we have always prioritised.”

In the past 12 months, the Group has made a number of strategic acquisitions in areas such as Agile, DevOps and in particular ITSM. The acquisitions include Nimaworks in Greece; Rozdoum in Ukraine, and veniture in Germany. As well as accelerating business growth, these acquisitions have introduced leading talent into the Group such as Samsoor Hemat, who has been appointed Chief Revenue Officer of The Adaptavist Group.

On the product side, The Adaptavist Group has launched a number of new product innovations across the group including ScriptRunner Connect as well as through its partnership programme with the likes of monday.com and its AI app hackathon. Companies have also achieved important industry awards such as platinum marketplace status with Atlassian (Kolekti).

Finally, the Group’s services capabilities continue to grow with Adaptavist recognised as an Atlassian Platinum Solution Partner in EMEA and North America, and most recently APAC. This unique milestone cements The Adaptavist Group’s Atlassian ecosystem leadership position as the only organisation with platinum partner status globally.

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