Scalability and risk management tools “key” as Brisbane’s Felix lines up to be the first 2021 ASX tech listing

Felix   |   January 11, 2021

Leading Australian cloud-based software-as-a-service (SaaS) enterprise platform Felix (ASX: FLX) is expected to list on the Australian Securities Exchange (ASX) tomorrow, 12 January 2021, following a $A12million Initial Public Offering (IPO) at $.36c a share, giving Felix a market capitalisation of $A47million.

The Brisbane-based software company will be the first tech company to land on the ASX in 2021.

Felix connects commercial construction companies to a marketplace of vendors from which to source for projects and capital works. The Felix enterprise solution enables customers to efficiently manage their supply chain and streamline vendor prequalification.

Felix completed its roadshow in November 2020 with the oversubscribed round supported by leading Australian institutional investors Perennial Value Management, Thorney, Regal, Pendal, Endeavour, and Aconex co-founder Rob Phillpot.

Felix plans to use the investment to bolster product development and grow sales, including a push into international markets, after securing its first offshore customer Ports of Auckland in July 2020.

Felix CEO Mike Davis said customers turn to Felix improve their scalability, digitise processes and manage third-party risk and compliance to deliver jobs safely and profitably.

“Delivering projects on time, on budget and to safety standards and are the highest strategic imperatives for any construction and engineering organisation, and Felix assists them to do that. Construction companies have a critical dependence on third-party vendors to successfully deliver projects, and we noticed that technology to manage supply chains had been traditionally clunky.

“The need to effectively manage third-party risk and match the right vendor to the right job is more urgent than ever as we see a spike in infrastructure projects to boost the economy following COVID-19,” Mr Davis said.

Felix’s key customers include major contractors such as CIMIC Group, Monadelphous and Veolia, and is used on some of Australia’s largest infrastructure projects. The modular platform also enables smaller businesses to license specific solutions and only pay for what they need.

Felix’s Vendor Marketplace has grown to host almost 40,000 vendors across 43 countries in September 2020, up from 10,035 vendors in June 2017.

“Felix is playing into the large global construction software market and addressing the need to connect organisations with their vendors to manage risk and compliance. Felix provides a unique solution to the market by combining a world-class enterprise solution with the power of a large marketplace,” Mr Davis said.

Felix was assisted in its IPO by Australian firms Bell Potter Securities and Kidder Williams. Early investors in Felix included Melbourne-based investor David Williams, and the New Zealand Rolleston family.

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About Felix

Felix operates a cloud-based enterprise Software as a Service (SaaS) and marketplace platform for the commercial construction and related industries. Felix connects Contractors and their third-party Vendors, automating and streamlining a range of critical procurement-related business processes.

Further information contact Sophie Frayne 0413305248 or sophie.frayne@outlook.com.

Felix
Felix operates a cloud-based enterprise Software as a Service (SaaS) and marketplace platform for the commercial construction and related industries. Felix connects Contractors and their third-party Vendors, automating and streamlining a range of critical procurement-related business processes.
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Tech entrepreneur Rob Phillpot joins Felix Group Holdings

Aconex co-founder Robert Phillpot has joined the board of leading Australian construction tech company Felix Group Holdings (ASX: FLX) representing Mr Phillpot’s first public board membership since his position at tech giant Oracle.

Felix gains ISO certification marking compliance with international data security standards

Leading Australian enterprise technology company Felix Group Holdings (ASX: FLX) today announced it has achieved International Organisation for Standardisation (ISO) 27001:2013 Certification, the world's premier standard in information security, for its enterprise marketplace platform.  

Felix now meets an internationally recognised standard for its information security management system (ISMS) enabling the company to assure current and future customers of its commitment to data security and privacy through the systematic approach of accreditation, which it believes will provide a strong, competitive advantage in the market by streamlining sales cycles.   

Felix Chief Technology Officer Steve O’Keeffe said the certification specifies the requirements to establish, implement, maintain, and continually improve an ISMS, and assures the company’s use of robust data security controls in its operations.

“Achieving ISO 27001 certification aligns Felix with globally recognised best practice in terms of data security, and demonstrates the company’s commitment to a secure and trusted marketplace for industry participants,” he said. 

The ISO certification positions the company to meet the rising expectations and standards for data privacy in an increasingly tightening legislative environment, he added.  

“For Felix customers, certification means they can expect ongoing management of information security risks that could otherwise affect the confidentiality, integrity, and availability of corporate and personal information. Implemented controls include security-by-design product development, vulnerability management, encryption, business continuity and disaster recovery plans,” Mr O’Keeffe said.  

 Felix achieved certification after recently launching its best-practice prequalification framework, Vendor Optiqual®, which reduces the time and effort it takes to prequalify third-party vendors, enabling projects to commence sooner and with tighter supply chain risk management. Felix’s reported 66 per cent year-on-year growth in its vendor marketplace as at 30 April 2021 indicates the significant increase in customer data being housed in its enterprise platform.   

The ISO certification was granted after the completion of a series of formal audits performed by global inspection, verification and testing organisation, British Standards Institution (BSI) Group. Throughout the audit, BSI performed rigorous checks to verify Felix’s global security, risk, and management operations met the requirements set out by the ISO.   

Core to this was evaluating how Felix protects its technology infrastructure, development, operations, and services, explained Felix’s Head of Project Delivery and Chair of Felix’s Information Security Committee, Tony Chan.  

 “Achieving the ISO 27001 certification is another step in our ongoing security efforts, which always represents a priority for us at Felix. We remain focused on leading our industry by continually investing, improving, and upholding our commitments to protect the information of our clients and community,” Mr Chan said.  

logo-felix-bluefelix iso 27001 number

--ENDS-- 

About Felix

Felix operates a cloud-based enterprise Software as a Service (SaaS) and marketplace platform for the commercial construction and related industries. Felix connects Contractors and their third-party Vendors, automating and streamlining a range of critical procurement-related business processes.

Members of the media can direct questions about the Felix ISO 27001 certification to sophie.frayne@outlook.com or by phoning 0413305248.  

The official ISO certification can be viewed via the BSI Certification Directory website 

For more information on Vendor Optiqual®, click here. 

Felix expands platform with launch of new highly strategic module

Felix Group Holdings Ltd (ASX: FLX) (“Felix” or the “Company”) is pleased to announce the expansion of its procurement management platform with the launch of a new, highly strategic Procurement Schedule module.

Felix’s Co-Founder and CEO, Mike Davis commented:

“Using spreadsheets to manage multi-billion procurement programs is an industry norm. By bringing Procurement Schedule into our enterprise solution, Felix is connecting this critical function to the procurement lifecycle. The module is now live across a leading multinational Contractor and we are incredibly excited by the strong response from existing and new customers as we continue to focus on scaling the enterprise platform.”

Procurement Schedule provides complete visibility and control over procurement programs and performance. The new module is a significant expansion of the enterprise platform with advanced discussion across existing Contractor customers indicating high demand for the module. Felix also notes the significant interest for the module across ongoing new customer discussions, a number of which are well advanced.

Developed in close collaboration with one of Australia’s largest Contractors and other industry leaders, Procurement Schedule is a tailored solution for organisations to connect critical project planning, scheduling and tracking data with their key sourcing processes. The module is now live across the first cornerstone customer, active across telecommunications, infrastructure, construction and natural resources.

The new module is deeply integrated with Felix’s existing Vendor Management and Sourcing modules, serving as the nerve centre of the enterprise platform. The highly complementary module significantly enhances the value proposition of the platform for Contractors providing Felix further opportunities to accelerate revenue growth.

In parallel with the launch of Procurement Schedule, CTO Steve O’Keeffe and Head of Product Mariia Starikova will host a webinar to showcase its capability on Tuesday 24th at 10:00AM AEST.


About Felix

Felix operates a cloud-based enterprise Software as a Service (SaaS) procurement management platform and vendor marketplace. Felix connects contractors and third-party vendors by digitising, automating, and streamlining a range of critical procurement-related business processes – reducing supply chain risk and improving transparency and governance.