Scottish technology startup Stellar Omada has seen its sales quadruple in its second financial year, bringing in full-year revenue of £10.2 million.
The company, which specialises in programme delivery, technology transformation, testing services and innovation, also saw its headcount grow from six to 50 during 2020.
Stellar Omada Founder and Managing Director Colin Frame said: “We want to build one of Scotland’s most successful technology firms, headquartered here, committed to remaining independent and we’re on course to be a £100 million revenue business in the next five years.”
While Stellar Omada is primarily working with UK plc in the financial services and tech sectors, Frame says the business is targeting other sectors in the UK while international contract wins are in the pipeline for 2021.
“We’re actively speaking to organisations in the utilities and public sectors, alongside an increasing number of international companies, so we expect some of ongoing growth to come from these areas over the next twelve months,” he said.
“While our strategy centres around organic growth, and we will be continuing our hiring phase through-out the year to match the growth trajectory, we’re not ruling out growth by acquisition if the right type of opportunities present themselves.”
Among highlights in 2020, Stellar Omada signed a three-year software testing contract with iPSL in May. In June, the company joined digital skills academy CodeClan’s partner programme.
In September, Stellar Omada joined NatWest’s preferred supplier list, supporting product testing as part of a large-scale programme, and in October the tech group launched a corporate social responsibility (CSR) committee aimed at giving back to the community.
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Chief Innovation Officer at Stellar Omada Benny Corr said: “The key trends in the market are around fintech, automation, machine learning, big data, artificial intelligence and cloud. What we’re seeing out on the coalface are an increasing number of large-scale programmes as corporations transition to cloud-based environments, and regulatory backdrops leading to substantial infrastructure change.”
Stellar Omada has plans to extend its product offering in 2021, with new services in hosting and professional services, and is set to announce a series of industry and community partnerships over the next twelve months.
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The company has also initiated an in-house talent programme, bringing together 14 members of the team who have been identified as futures leaders within the business.
Frame added: “We know that investing in our people, including the next generation of leaders within the business, is absolutely key to our ongoing success.”