SOCO has just been named in the AFR Fast 100 list of Australia’s fastest-growing companies.
To be eligible for the Fast 100 List, companies must have a minimum recorded revenue of $5m in FY22 and have started trading before 1 July 2017. Entrants are ranked based on compound annual revenue growth, which for SOCO was an impressive 61% over the past 3 years.
KEY TO OUR SUCCESS
From day one, SOCO has been a values-driven organisation. Our core brand purpose is to elevate our clients, staff, and partners to be the hero. And our Discover, Design, Deliver, Drive® methodology aims to de-risk IT projects for all parties and embed genuine partnership and alignment at the heart of our client relationships.
This approach has helped SOCO deliver consistent revenue growth over the years, while remaining profitable every year since its founding in 2013. In addition, SOCO has delivered this financial performance without taking on debt or raising capital outside of the Founding Shareholders.
From humble beginnings, we have grown to deliver services across Australia with our team who are based in Queensland, NSW, Victoria, the ACT and we’ll soon kick off operations in Perth.
– Sebastian Rizzo, SOCO Co-Founder & Executive Director – Client Relations.
THE BACK STORY
Fate threw IT professionals Arnie Raju, Carlo Liviani, Sebastian Rizzo, Stevan Simovic and Tom Rock together in the mid-2010s. They were four technical specialists and a project manager who frequently worked well together on contract technology projects at several multinational organisations and Australian government departments, developing over time sharp learnings and insights into why they often failed.
Driven by the desire to keep the high performing team together, and by the belief that there was a better way to run projects – SOCO was born, and the founders’ dream of building a better place to work started to become a reality.
Today, SOCO has a team of more than 75 who are located across Australia. Our work from home policy and additional paid leave over the Christmas/New Year period resonates with our people. Earlier this year, SOCO was also officially certified as a Great Place to Work scoring 94% compared with the Australian company average of 55%.
FUTURE GROWTH PLANS
FY23 is expected to be another record year with a forecast of $18.5M organic revenue (37% revenue growth), and $3.0M EBIT (after public company costs and share based remuneration). Buoyed by the positive outlook forecast for organisations that develop and implement IT services and digital solutions, SOCO intends to apply for listing on the ASX in coming weeks and is currently finalising the due diligence and planning for this process.
Download the full AFR Fast100 editorial here to read more.
For all media related enquiries, please contact:
Grace Tiong
Performance Marketing Manager
E: grace.tiong@soco.com.au
P: +61 4 06 682 960
We are excited and honoured to be listed in the Fast 100. It’s humbling recognition that we have a great business model that resonates with the market, but also more importantly, with the people we serve: our team and our clients.
– Simon Forth, SOCO CEO
