Warrington-based Talos360 has experienced an extraordinary 55% rise in technology revenues, reaching £5.1 million by the close of 2023. This achievement is predominantly driven by a rapid expansion in its client base.
The surge in technology sales now constitutes a record-breaking 44% of the company’s total revenue, a significant leap from just 19% in 2021. This boost has pushed Talos360’s overall revenue to £11.6 million, a commendable 10% increase from the prior year.
Revenues Surge Due to Client Growth
Warrington-based Talos360 has reported a significant 55% increase in technology revenues, reaching £5.1 million by the end of 2023. This growth is largely attributed to a rapid expansion in their client base.
Technology sales now make up a record 44% of Talos360’s total revenue, compared to just 19% in 2021. This increase has helped push the company’s overall revenue to £11.6 million, a 10% rise from the previous year.
Shift in Revenue Composition
Talos360, a human capital management (HCM) solutions provider, has seen a significant shift in its revenue composition. In 2021, technology only accounted for 19% of their revenue but has since risen to 44%.
Despite a pre-tax loss of £4.458 million in 2022, the company has not disclosed its pre-tax profit or loss for 2023. The focus now remains on growth and expansion.
Leading the Market in Talent Solutions
Known as one of the UK’s fastest-growing providers of software-as-a-service (SaaS) talent solutions, Talos360 helps businesses attract, recruit, and retain talent.
With over 800 businesses relying on their proprietary technology, Talos360 has established itself as a trusted partner in the industry.
The management team, led by CEO Janette Martin, has focused on driving technology sales by continually developing its products and securing new clients across various sectors.
Partnerships and Product Development
Talos360 has forged new partnerships to enhance its product offerings. These include collaborations with Certn Credence for candidate background screening and Talent Strengths for employee psychometric tests.
Investment in commercial and product partnerships has been significant, aimed at better supporting customers.
The company is set on further investment in people, product development, and complementary acquisitions to accelerate growth.
CEO of the Year Award
In 2022, CEO Janette Martin was recognised with the prestigious title of CEO of the Year at TheBusinessDesk.com’s North West Business of the Year Awards.
Her leadership has been instrumental in Talos360’s growth and success. This accolade underscores the impact she has had on the company.
Martin is committed to growth while fostering a supportive and inclusive workplace culture.
Private Equity Backing and Growth
The private equity investor LDC backed Talos360 in October 2022 to accelerate its ambitious growth strategy.
Under this partnership, Talos360 has seen a continual development of its Talos ATS and Talos Engage products, aiding in securing new customers in various sectors such as retail, hospitality, care, education, manufacturing, and professional services.
LDC’s support has been pivotal in the company’s success, with a focus on innovation and employee well-being.
Future Plans and Commitment
Talos360 is now focused on building momentum by actively pursuing complementary acquisitions and further investment in their market-leading talent solutions.
The aim is to solve hiring challenges for customers, helping them attract, recruit, and retain top talent.
John Clarke, Partner at LDC, expressed confidence in Talos360’s future, citing their commitment to innovation and employee development as key factors.
Talos360’s remarkable 55% growth in technology revenues underscores its strong market position and innovative approach. With continued investment in people and partnerships, the company is well-placed to sustain this momentum.
Plans for further acquisitions and product development show a clear strategy for future growth. The backing from LDC has been crucial in achieving these milestones.