Scale-up CEO shares his exciting story of building through to acquisition
Newcastle scale-up CEO shares his story of building out a global tech firm through to their recent acquisition at I2N's Startup Stories
Adam Boyle, was brought on as Chief Executive at Pegasus in 2007 and tasked with diversifying the business and concentrating future investment on growing and commercialising their tech product. With Adam at the reins, Pegasus is now a purely software-based company that provides workplace management solutions to global corporates. The Pegasus team understand the problem and make it easy for workers to move across industries and organisations while getting to work safely.
At I2N's Startup Stories virtual webinar on Friday 22 October, Adam shared his story of growing Pegasus to almost 25% year-on-year growth, secured $28million from Silicon Valley tech investment firm Accel-KKR, and more recently announced their acquisition by US-based firm Avetta.
Pegasus provides workplace management solutions to companies including Woolworths, BHP, Visy, Lendlease, Aurizon and Ausgrid. The tech lets organisations manage their contractors and workers, giving them control over qualifications, competency, inductions, training, site safety, and assets on site.
- When asked what aspects of the journey made a big difference, Adam says there was never a slow burn at Pegasus, it was always busy. We just didn’t think we were that exciting, but eventually we kind of realised this is going to be a lot bigger market than we thought.
- When asked how Avetta’s acquisition shaped up with Pegasus future Adam says, it’s aligned very nicely and has opened up doors to massive opportunities over in the US. We have 150 large customers here in Australia whereas Avetta has up to 1000 of these large customers over in the US.
- For the next 5 years Adam and the team are planning for growth as well as the tech experience for their clients and creating as much value as possible for them.
The University of Newcastle's I2N works with individuals and organisations from across the Hunter region and beyond to turn ideas and challenges into opportunity. As a leading driver of economic and business growth, the I2N cultivates an entrepreneurial mindset that is behind many of the region's most innovative businesses and leaders.
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