ASX-listed Rision acquires Melbourne event staff management startup RosterCloud
ASX-listed Rision, which provides a team planning and analytics platform to help businesses with staffing, has today announced its acquisition of Melbourne startup RosterCloud, which helps clients manage and roster event staff. The deal was made for a combination of four million shares, to be held in escrow for 12 months, and an undisclosed cash amount.
Founded in 2011 by Daniel Fine, Tom Corrigan, and Rohan Workman, also director of the Melbourne Accelerator Program (MAP), the startup has helped clients including Damn Fine Foods and the National Gallery of Australia manage their event staffing.
An announcement from Rision to the ASX states that the acquisition will help position the company as a leader in the provision of rostering services to the catering and events industry and significantly boosts its customer base.
Through the deal, Rision will acquire a database of employees from RosterCloud’s clients that is almost double the number of employees at Pizza Hut Israel – 800 – with whom Rision signed a deal last year.
Kate Cornick, CEO and managing director of Rision, praised Workman’s role with both the startup and MAP and said of the deal, “This is an important growth segment for us, as it has very high proportion of contingent, shift and casual employees, many of whom work for more than one employer, making the task of roster management extremely complex and labour-intensive.”
RosterCloud’s founders will continue to consult for the company to “support the integration of the technologies and future sales”.
Workman stated, “We are very excited about our future with Rision, and we see a whole new world of opportunities ahead, including leveraging Rision’s unique mobile rostering and time and attendance applications, as well as using Rision’s representation in the US to launch products into a new market. We look forward to being a part of the Rision team and taking this forward.”
Rision is not the only Australian staffing solutions company to be looking to the US, with Melbourne startup Rosterfy looking to conquer the US sports market. Launched last November, Rosterfy helps event companies with recruitment, rostering, training, and accreditation to act as an end-to-end solution for staff management. With a presence in over a dozen countries, Rosterfy is looking towards the gargantuan sports market in the US for growth.
The acquisition of RosterCloud comes just over a month after Melbourne Accelerator Program launched its 2016 intake, upping the number of participants from eight to 10 following a partnership with Australia Post last year.
Since the program’s launch in 2012, MAP alumni have raised over $11 million in funding, created over 200 high-leverage jobs, and generated more than $10 million in revenue. It is estimated that $32 million has been contributed to Australian GDP by MAP companies providing solutions to existing problems and pain points in industries including health, agritech, and foodtech.
This year’s participants include CNSDose, which looks to help people find the right antidepressants based on their genetics, Honee, a discovery and booking platform for all wellness, beauty and fitness services in Melbourne, and Shacky, an Airbnb for ‘tiny houses’ on farms.
Image: Rohan Workman. Source: Supplied.