Listing here today, this SaaS innovator aims to Bridge the chasm between global care systems and those who need them
Homegrown SaaS firm Bridge is today listing on the Australian Stock Exchange under the ASX code “BGE”, having raised $4.5 million via an IPO of 22.5 million shares at $0.20 apiece.
Today’s IPO is Bridge’s trigger to accelerate growth across the $60 billion Disability, Aged Care and Disability Employment Service markets.
The Software as a Service firm brings together some of Australia’s most respected names in the field, creating an all-in-one tech platform with the single objective of driving efficiencies throughout the nascent $60 billion NDIS system and markets like it.
“The success of the IPO is testament to the market’s enthusiasm for what is a highly-scalable platform, its undeniable potential and the extraordinary need of the many millions of Australians relying on it,” MD Jamie Conyngham told Stockhead
“We have a proven ability to continue to innovate and that’s nothing but great news to our customers who are always seeking greater efficiency solutions,” he added.
Bridge is first looking to drive effectiveness in the NDIS which focuses on serving the 4.3 million Australians living with a disability.
Conyngham says the nation-critical social infrastructure sits in a heavily fragmented market and has near exponential needs.
“BGE brings enormous experience creating customer value by increasing productivity and assuming the administrative and compliance burden of its customers.
“There’s a desperate need and a guaranteed lucrative opportunity for an established SaaS player like Bridge.”
“We’ve been aggregating data and refining our product offering for over 13 years and, as a first-mover in the Australian market, we’re in an outstanding position to continue to expand our market share in a highly fragmented and growing industry.
And with names like Leanne Graham – the former head of Sales over at listed accounting SaaS giant XERO (ASX:XRO), BGE has the senior executive know-how in offshore markets.
For now, BGE is taking its Bridge Software into those new adjacent and vertical market segments – like Aged Care and Home Care – while continuing to grow its existing Employment Services revenue and NDIS revenue.
“We see tremendous opportunities to grow in the short-term, especially into adjacent market segments such as Aged and Home Care, as well as significant expansion opportunities in our existing Employment Services and NDIS revenue streams.
This article was developed in collaboration with Bridge, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.