In an “incredibly important” milestone, AssetOwl (ASX: AO1) signed its 10th real estate agency to test its software as the Inspector360 service property inspection platform, paving the way for growth in the second half of the year.
The company’s contract clients now have 4,000 collective properties under management.
AssetOwl CEO Geoff Goldsmith said the signing of the 10th real estate agency on its Inspector360 platform was an “exciting achievement” for the company which demonstrates a “clear market need” for its technology.
“Signings are also an important operational step as the company refines its product offering and improves its data integration and migration processes for entry into Victoria State and other markets. off the east coast of Australia, ”added Goldsmith.
In AssetOwl’s current integration model, real estate agencies sign a license that includes a free trial period.
During this period, AssetOwl migrates the agency’s existing inspection files to its Inspector360 platform.
The company then trains property managers in the use of Inspector360.
According to AssetOwl, this process typically takes around one to two months, but can be longer depending on the size of the agency and the state of their real estate data.
AssetOwl noted that its onboarding process has been refined since the initial client implementation, which will accelerate the transition from trials to paid licensees under the paid software-as-a-service model, which generates recurring income.
The company added that securing the 10th real estate agency was an “incredibly important” milestone that heralds a key moment as market traction builds for Inspector360 ahead of a product rebranding and official launch.
With a more refined integration process, AssetOwl says the company is well positioned to move into the next phase of growth that deploys its technology to the east coast of Australia.
“When scaling a new business to enterprise technology, it’s important to recognize that there are a number of distinct growth phases, each with their own set of challenges,” said Mr. Goldsmith.
“Tech companies typically go through the early stages, including generating ideas and identifying opportunities, followed by validating the business case, launching the product, pulling it, bringing it to the next level. scale and finally the installation. “
“We thank our investors for their support as we move through these early stages and look forward to providing further updates as we deepen our market traction,” added Mr. Goldsmith.