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5 small cap tech stars to watch

Although the size of Australia’s tech sector pales in comparison to those in the United States and China, that doesn’t mean there aren’t any quality up and coming tech companies on the rise inside it.

Five exciting small cap tech shares listed on the Australian share market that I think investors should be better acquainted with are listed below. Here’s why I think they are worth watching:

Citadel Group Ltd (ASX: CGL)

Citadel is a software company that provides secure enterprise information management to help individuals and businesses maximise value, innovation, and business outcomes in an information-driven world. It is profitable, growing fast, and has very little debt.

ELMO Software Ltd (ASX: ELO)

ELMO is a provider of cloud-based human resources and payroll management software solutions. Since listing on the ASX it has outperformed expectations and, thanks partly to an acquisition, is expected to grow EBITDA by a massive 370% to $5.7 million in FY 2018.

LiveTiles Ltd (ASX: LVT)

LiveTiles is a fast-growing digital workplace platform provider which has its eyes on a leadership position in the rapidly growing artificial intelligence market. The company has close ties with tech giant Microsoft and was recently awarded the 2018 Microsoft US Partner of the Year Award for Modern Workplace Transformation.

MSL Solutions Ltd (ASX: MPW)

MSL Solutions is a tech company flying under the radar of most investors. It is a global provider of hosted, software as a service and on-site deployed solutions to clients in the sport, leisure, and hospitality sector. The company’s MPower platform allows member organisations to connect their business software and data needs to improve guest engagement and loyalty.

Volpara Health Technologies Ltd (ASX: VHT)

One of my favourite medical technology shares would have to be Volpara. It specialises in breast imaging analytics and analysis software and has been experiencing incredible demand for its software. As of its most recent update, the software handled 3.2% of all women screened for breast cancer in the United States. Management is targeting a share of 9% in FY 2019.

These 3 stocks could be the next big movers in 2020

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*Returns as of 6/8/2020

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended ELMOSFTWRE FPO and VOLPARA FPO NZ. The Motley Fool Australia owns shares of Citadel Group Ltd. 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 Scott Phillips.

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