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LiveHire share price rises 4% on deal with DuluxGroup

The LiveHire Ltd (ASX: LVH) share price is up 4% on a new deal with DuluxGroup Limited (ASX: DLX).

As a reminder, LiveHire offers a cloud-based talent acquisition & engagement platform that enables businesses to find highly engaged and well-matched talent.

One of the latest businesses to reach an enterprise agreement with LiveHire is DuluxGroup, the owner of home improvement brands like Dulux, British Paints, Selleys, Cabot’s and Yates.

The agreement includes powering recruitment for employees across all of its brands and operations.

According to LiveHire, the enterprise agreement represents annualised recurring revenue (ARR) of more than three times the current average ARR across LiveHire’s clients, in addition to other non-recurring upfront revenue.

LiveHire’s technology will replace the existing applicant tracking software at DuluxGroup in its entirety and in the second phase the LiveHire platform will be integrated with the HR information system.

This is a very important deal for LiveHire. Not only is it a good deal itself, but LiveHire can now go to other potential large clients and show it is working for large and complex global organisations.

The CEO of LiveHire, Christy Forest, said “Up to now, LiveHire has been very focused on building a platform and architecture for global scale, to satisfy the most innovative practitioners in the market, RPO firms. As successful RPO implementations continue to accelerate, we have been expanding and mobilising our direct sales channel, to bring the award winning LiveHire platform to the mid-market of 500 to 5000 FTE companies.”

One of LiveHire’s other recent wins includes Vodafone Australia which it announced a month ago. It’s starting to win some big clients.

In FY18 it increased its revenue from continuing operations by 113% to $1.65 million. These deals should increase the FY19 revenue very nicely.

LiveHire is making good progress, but it’s too early for me to personally invest in it. Once it makes a profit I will consider it.

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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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