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2 under-the-radar ASX tech stocks that could make you rich

With well-known tech stocks like Afterpay Touch Group Ltd (ASX:APT), WiseTech Global Ltd (ASX:WTC) and Appen Ltd (ASX:APX) appearing in news headlines every other day, it can sometimes be hard to work out who the next up-and-comers in the tech industry are. So here are two ASX 200 tech stocks that, while they may have been on the scene for a while already, still might not be getting the full love and attention they deserve from investors.

LiveTiles Ltd (ASX: LVT)

LiveTiles is an Australian IT company that specialises in the development of intranet portals and online working environments for corporate clients. It aims to deliver intelligent, cloud-based software solutions that optimise user experience, increasing employee engagement and productivity in the workplace.

According to its own website, LiveTiles has already worked with some big name international clients including food and beverage giant PepsiCo, German conglomerate thyssenkrupp and the United States Department of State. LiveTiles has also continued to cosy up to Microsoft in the United States (US), partnering with the global computing giant in the release of a new SharePoint product in May.

In its most recent quarterly activity report, released to the market last week, LiveTiles announced that annualised recurring revenues had reached record high levels of $40.1 million by 30 June 2019. That’s up from $34.5 million as at the end of March, and an increase of more than 10 times in just two years.

The LiveTiles share price has been bouncing around all over the place so far this year, but overall it’s still up almost 60% since January. However, with a price hovering around 50 cents per share, and a market cap of just $350 million, it’s an up and coming tech stock that’s not yet made it onto many investors’ radars.

iSignthis Ltd (ASX: ISX)

In terms of growth potential, I think iSignthis is one of the more exciting tech stocks out there. It focuses on developing software solutions for ecommerce companies to help them verify payments and identify customers.

We now live in an age when traditional brick-and-mortar retailing is being rapidly replaced by ecommerce – it’s now easier to order clothing from an online store in Botswana than physically buy it from the department store down the street. With the online store, you don’t even need to get out of bed!

But as more and more of our everyday business takes place online, often between buyers and sellers located on opposite ends of the globe, it is incumbent upon all ecommerce stores to ensure that they keep pace with tightening international anti-money laundering regulations. This where iSignthis can help, with its patented payment and identification verification software. Complex and rapidly changing regulations mean the service is in demand, plus it is readily scalable.

The market has already started to take notice of iSignthis – so far this year its share price has already more than quadrupled in value. But with a long potential growth horizon ahead of it, iSignthis could still offer some great returns for new investors.

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Rhys Brock owns shares of AFTERPAY T FPO, WiseTech Global and LIVETILES FPO. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of WiseTech Global. The Motley Fool Australia owns shares of AFTERPAY T FPO and Appen 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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