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3 exciting tech shares you need to watch

As well as established names such as XERO FPO NZX (ASX: XRO) and Altium Limited (ASX: ALU), I believe the Australian share market is home to a number of exciting small-cap tech companies with significant growth potential.

Three which I think are worth taking a closer look at are listed below. Here’s why I like them:

LiveHire Ltd (ASX: LVH)

Thanks partly to an agreement with recruitment giant Randstad, this talent technology company’s shares hit an all-time high this morning. Randstad is just one of a number of big name clients utilising its software platform which creates a pool of pre-qualified job candidates to access when they need to recruit. Last month strong demand for the platform led to the company reporting a 30% quarter-on-quarter increase in cash receipts. Furthermore, the company finished the period with zero debt and a cash balance of almost $18 million.

Livetiles Ltd (ASX: LVT)

This morning this digital workplace platform provider announced that it successfully raised $11 million via a share placement to sophisticated and professional investors at 18 cents per share. This was just two cents lower than the current share price and was unsurprisingly oversubscribed. Investors appear to be excited at the prospect of the company using the funds to accelerate its already explosive global growth. LiveTiles recently announced annualised subscription revenue growth of 292% to $4 million for the 2017 financial year.

Updater Inc (ASX: UPD)

US-based Updater provides a platform which aims to make the moving home process easier for consumers in the United States. I’ve been very impressed with the way the company has grown its market penetration in the last couple of years. After seven straight quarters of growth, Updater recently announced that its estimated market penetration during the second-quarter of 2017 surpassed 11% of all household moves in the United States. Thanks to a highly successful pilot program and the growing popularity of the product, I expect this growth to continue in FY 2018 and beyond.

These 3 stocks could be the next big movers in 2020

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

In this FREE STOCK REPORT, Scott just revealed what he believes are the 3 ASX stocks for the post COVID world that investors should buy right now while they still can. These stocks are trading at dirt-cheap prices and Scott thinks these could really go gangbusters as we move into ‘the new normal’.

*Returns as of 6/8/2020

Motley Fool contributor James Mickleboro has no position in any stocks mentioned. The Motley Fool Australia owns shares of Altium and Xero. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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