Global cloud HR and people software provider Fairsail, identified as a ‘One to Watch’ company in the Southern Tech 100 run by The Business Magazine, has announced 2016 annual revenues hit £10 million – up from £1m in 2013, while it doubled its workforce to 135 employees.
Fairsail is now the fastest growing tech scale-up in the UK and recently burst into The Sunday Times Hiscox Tech Track – one of the most prestigious listings for UK technology companies – as demand rockets for its market-leading software among small to mid-sized multinational organisations around the world.
The company also expanded its US operations in 2016 with the opening of an additional office in Chicago, and welcomed Rebecca Foreman Janjic as a US adviser to its board of directors.
Fairsail won 60 new customers last year including PaddyPower Betfair, HMD Global, Matchtech, Mitsui, Quest Software, Redflex Traffic Systems, Sage, Trustpilot and Tradeshift. Fairsail says these organisations now have better workforce visibility and increased HR productivity while being able to deliver great workforce experiences. Customers go live within days and today there are more than 120,000 Fairsail users in over 130 countries.
Fairsail’s sustained growth has attracted attention from a range of investors and partners. Sage, the SME market leader for integrated accounting, payroll and payment systems, significantly extended its partnership with the company, making an investment of £10m, taking a seat on the board and announcing it was reselling Fairsail as Sage People. The product is also part of Sage’s X3 Business Management Solution, further expanding its global reach, availability, and growth.
Adam Hale, Fairsail CEO, commented: “Our tremendous growth over the past year is down to the faith placed in our amazing employees and market-leading technology by highly ambitious mid-sized companies. It’s great to work with so many organisations that recognise the vital importance of the HR function and its ability to help them truly understand their people.
“Effective management of people and HR processes crosses borders, cultural divides and different legislative landscapes. Mid-sized organisations are turning to us to help them understand more about each employee and use those insights to deliver amazing workplace experiences. We have a loyal and expanding set of customers who are transforming HR and becoming People companies with a focus on people science.
“We’re incredibly proud of our 98% renewal rate; once implemented, companies understand that our HR software can help them make people decisions rather than just execute tasks, and ultimately improve attraction, retention, and productivity. The last three years have been incredible but the demand we’re seeing suggests that the years ahead are set to be even better.”