Interact drives rapid growth within a carefully targeted market
Blog: MWD Advisors
Founded in 1996 as an intranet consulting business, Manchester UK-based Interact first released its out-of-the-box intranet platform in 2003, and has continued to expand and enrich the platform to incorporate a wide range of features and applications that help improve business processes and support collaboration and communication within an organisation. Once a purely UK-focused business, over the last three years the company has grown rapidly, extending into the US and other international markets, doubling its revenues and its employee headcount.
A new dawn for intranets
It’s a good time to be an intranet platform provider: after a period when intranets were looked upon with disdain by business users due to poor publishing models and inadequate search (see the MWD Advisors report Socialising the intranet), there is a definite resurgence at present, driven by the shift towards digital technologies and the promises of social collaboration. Although many vendors from other backgrounds are now actively positioning themselves as social intranet providers, established intranet players like Interact – which have specialist experience and understanding of the challenges that organisations are trying to address through intranet technology – are extremely well-placed to take advantage of this growth trend.
There’s no doubt that Interact is riding the wave here; its revenues grew by 60% in 2015, following 38% growth in 2014, and the company has now had five record revenue quarters in a row. A major factor in this growth has been Interact’s branching into North America (it opened an office in Dallas TX in 2012, followed by a new US HQ in New York in 2014), and by the end of 2016 the company expects its US revenues to overtake the UK for the first time. At the moment, the majority of the company’s 100 or so staff are based at its HQ in Manchester, but its US presence is expanding fast, with new hires in both sales and delivery roles to fully support the US market. (Interact also has a satellite office in Sydney Australia.) This is all particularly impressive when you consider that the company has had no outside financial investment; its growth is entirely organically funded.
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