As well as billion-dollar tech companies such as WiseTech Global Ltd (ASX: WTC) and Altium Limited (ASX: ALU), I believe the Australian share market is home to a number of fledgling tech companies with enormous potential.
Two which I think are well worth getting acquainted with are listed below:
GetSwift Ltd (ASX: GSW)
This morning this exciting delivery management software provider announced an exclusive commercial multi-year agreement with Bareburger.com. The New York-based restaurant chain is the latest in a growing number of companies using GetSwift’s best in class last-mile platform. Other users include Lion Nathan, Red Rooster, Oporto, and Pizza Hut.
The company has been growing the number of deliveries handled by its platform at an explosive rate and announced last month that it had surpassed 2 million deliveries. Impressively, it took the company 17 months to reach its first one million deliveries and just 5 months to reach the second million. I suspect the third million will come even quicker.
Rent.com.au Ltd (ASX: RNT)
The shares of the operator of Australia’s number one website dedicated to rental property have certainly been on the move in the last month. Thanks to the strong growth of its Renter Resume product and a positive quarterly trading update, Rent.com.au’s shares have climbed over 16% since this time last month.
It’s not hard to see why either. In just ten months the company has exceeded 150,000 users of its Renter Resume service. As the name implies, Renter Resume is a way for renters to create a resume that can be presented to prospective landlords through its platform. I believe this is just one of a number of features on offer that will cement Rent.com.au as the place to go for rental accommodation.
As well as GetSwift and Rent.com.au, I think these growth shares are worth taking a closer look at.
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Motley Fool contributor James Mickleboro owns shares of GetSwift Ltd. The Motley Fool Australia owns shares of Altium and WiseTech Global. 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.