Penarth-based software firm sees record growth
TestLodge, a software testing platform, has announced it’s seen a 44 per cent increase in turnover and 31 per cent increase in profit over the past year.
The Penarth-based company said it’s benefited from a weaker pound and a rise in US-based users adopting the testing tool. This extraordinary growth happened between 2016 and 2017.
Companies from across the world have flocked to the TestLodge testing platform since launching in 2013, with a responsive attitude to user-feedback key to its success.
It currently supports thousands of users in more than 120 countries, and is widely seen as one of the most innovative emerging software testing firms in the UK.
In particular, the company has achieved huge success in the United States. As of last year, 40 per cent of TestLodge’s user base is located in the country.
As a result of the opportunities in America, the company primarily does its business in dollars. And due to the fluctuating pound following last year’s Brexit referendum, it’s seen impressive profit in the country.
Scott Sherwood, managing director of the firm, said this growth means he can keep investing in the platform. “It’s been another great year perpetuated by the increase in international users,” he said.
“The beauty of cloud-based technology is that it allows a product to live and die on its own merits; proximity is not an issue, as evidenced by our growth in the US.”
He added: “Listen, invest and improve has always been the ethos at TestLodge, with consumer feedback a core facet of our business; we are meeting the demand for a modern and fluid testing platform, which is being reflected in the rate of our sign-ups.
“Early on in the business, we decided to forgo seeking external investment, with a preference for organic growth. This bootstrapping allowed us the freedom to focus on reinvesting into the business, rather than racing to provide a return for investors – and that is recognised by our growing user base.”