Aussie tech disruptor, Rision, to list on ASX

Aussie tech disruptor, Rision, to list on ASX

HR Cloud software firm hopes to raise $4 million to expand in the US and Australia

Australian HR tech disruptor, Rision is set to list on ASX in a bid to raise more than $4 million to accelerate growth of its patented mobile recruitment and HR platform in the US and Australia.

The company will list through a reverse takeover of Reclaim Industries Limited (RCM) in mid-May 2015.

The company's solution solves the challenges of recruiting and managing shift-workers in industries like retail, property services, hospitality, healthcare, franchising and construction.

The listing comes on the back of strong investor interest and a total $3 million of initial funding raised since late 2014.

The platform is the product of more than ten years research, labour and investment by founder Robert Day.

Day said the company was set to shake-up the recruitment and HR industry, just as Xero has disrupted the accounting sector.

“With the number of workers employed on a contingent, part-time or project basis predicted to grow to more than half of the US and Australian workforce by 2020, the market has been crying out for a solution to the HR headache of hiring and managing such a fluid workforce,” he said.

“Using the latest mobile and cloud technology, we’ve developed the only solution on the market dedicated to helping workers find more shifts and businesses recruit, roster, manage and pay their staff more easily, quickly and cost-effectively.”

He said the JobMatch service saved managers having to trawl through hundreds of job applications.

"Rision’s LastMinute hiring function helps managers fill a vacant shift immediately, using the Rision database of known candidates with the required availability, skills and expertise.”

The automated rostering interface has also proved a hit with managers looking to streamline the time-consuming task into an intuitive click-of-a-button-system that sends shift notifications directly to employees’ mobile devices, Day said.

Rision unveiled its product range at the HR in Hospitality Conference in Las Vegas on March 18.

It has already proved popular with customers in the US and Australia, including businesses which employ hundreds of workers in catering, restaurants and cleaning services industries, according to a company statement.

Rision’s 67 year-old founder has been focused on finding a solution to the contingent workforce challenge since 2000 and has now attracted experienced senior board and management with backgrounds in technology, business innovation, banking and investment.

Rision managing director, chief and former NBN Co general manager of Enterprise and Strategy, Kate Cornick, said the board of directors were taking a deliberately conservative approach with the listing to avoid a share price spike seen by other recent Australian technology disruptors launching on the ASX.

“Rision is prepared to scale at speed," she said.

“The short-term goal following IPO will be to grow the Rision team in both Australia and the US with a focus on sales and marketing and ongoing technology development.”

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Tags ASXRision managing directorRobert DayKate CornickRisionchief and former NBN Co general manager of Enterprise and Strategy

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