ActiveOps floats on AIM as CEO says changing post-pandemic working habits pose opportunity for software firm

Changing working habits will boost the company, CEO says

29 March 2021

Software provider to banks and insurance giants, ActiveOps, floated on AIM today under the ticker AOM with a market cap of around £119.8 million on admission.

ActiveOps‘ SaaS management process automation platform is used by banks and services firms including Nationwide and Capita to help manage office operations and staff workflows.

The Reading-based company, which was founded in 2005 by consultants Richard Jeffery and Neil Bentley and now operates in 40 countries around the world, raised £75.7 million for selling shareholders including Jeffery, who retains a 13.8% stake in the company.

Pre-IPO Calculus Capital was the firm’s largest shareholder, with a 29% stake. On IPO it retains around 6.1% of company shares.

Like other software providers, ActiveOps has seen demand soar since the pandemic hit as big business looked to invest in technology facilitating remote working and ensuring security.

The firm reported revenues of £20 million last year, and its IPO saw the company join a string of online lockdown winners listing on London’s junior market this year, including doorstep delivery firm Virgin Wines and over-60s meal provider, Parsley Box.

Jeffery said that “increasing regulation, automation and the changing dynamics of the workforce” mean back-office operations are becoming “ever more complex” and the company is “very much still at the start of our journey”.

He said floating will give the company “enhanced credibility and profile”, and said: “Today marks an exciting new phase for ActiveOps, as we seek to deliver on the growth opportunity ahead of us.”