AssetOwl Releases Mobile Sync Protocol as East Coast Expansion Goals Set

AssetOwl’s new “mobile sync” protocol allows multiple users to work on a property inspection at the same time.

Property management technology provider AssetOwl (ASX:AO1) ended a busy year with the continued rollout of its Pirsee platform, while securing its first Victoria-based agency as a paying client and navigating its lift capital to aid in expansion efforts.

The Perth-based company was pleased to release its fourth quarter results, converting six more real estate agencies to paid status, contributing to a total of 17 agencies.

He was also able to get his very first Victoria-based agency as a paying client.

There are now 38 Western Australian agencies listed on the platform, across metropolitan and regional areas of the state, representing over 15,000 properties under management.

With 150,000 professional rental properties managed in WA, AssetOwl controls 10% of the managed rental market through its Pirsee platform.

New roles in June term

During the June quarter, AssetOwl appointed James Heys as Chief Product Officer to enhance customer experience and business expansion opportunities.

The company has also hired a Melbourne-based client success manager to help the Victoria-based agency’s first paying client and ultimately AssetOwl’s east coast expansion plans.

AssetOwl aims to tackle its east coast sales strategy by hiring a Melbourne-based sales manager in the September quarter.

Product development

AssetOwl released its “mobile sync” protocol in May, allowing multiple users to work on an inspection at the same time.

The introduction of the “mobile sync” protocol has improved the user experience and the speed of the application in the field, according to the company.

Improvements were also made to the integration of PropertyMe and PropertyTree during the quarter, which the company says will contribute to the success of its east coast expansion.

Capital raising

During the June quarter, AssetOwl placed the remaining shortfall from the seven-for-10 non-revocable rights issue launched by the company in January.

The company raised $1,942,043 from the rights offering, of which $440,298 was paid out during the June quarter.

The capital raised is expected to be used for the continued development and improvement of Pirsee’s products, marketing activities, aid in east coast expansion, ongoing research and development into new revenue opportunities for the Pirsee platform as well as working capital.

September quarter overview

AssetOwl aims to build on its east coast expansion in the September quarter, hoping to release a NSW and Queensland compliant version of Pirsee.

The company also has ambitions to improve its smart condition reporting, which involves the digital sharing of property condition reports.

Comments are closed.