LiveTiles’ Geelong Federal Mills office finally being filled

Global software company LiveTiles is finally making moves to populate its Geelong office after leaving it vacant for almost two years. Find out what they have planned.

Dave Cairns, Geelong Advertiser

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February 24, 2020 12:00am

Karl Redenback, CEO of LiveTiles, with Vanessa Ferguson, People and Experience, at their office at Federal Mills. Picture: Alan Barber

Global software company LiveTiles is finally making moves to populate its Geelong office.

In Geelong last week, the New York-based company’s chief executive, Karl Redenbach, said LiveTiles would “ramp up” its presence this year as it took steps to make good on a promise initially issued in late 2017.

“It has been much slower than we had initially thought two years ago,” Mr Redenbach said, blaming changes to the Federal Government’s research and development tax for contributing to the delay.

Listed on the ASX with a market capitalisation of almost $300 million, LiveTiles is an intranet specialist that empowers users to create intelligent workplace solutions.

While its movement in Geelong has been slow, the company has been growing rapidly, with annual recurring revenue rising to $52 million by the end of 2019.

Premier Daniel Andrews makes an announcement in with LiveTiles boss Karl Redenbach in 2017. Picture: Alison Wynd

“Three years ago we were about $1 million in recurring revenue ... now we are at
$50 million. If it all goes to place, we will be over $100 million in recurring revenue in the short term,” Mr Redenbach said.

Victorian Premier Daniel Andrews took part in the original announcement that LiveTiles would open an Asia-Pacific headquarters and innovation centre in Geelong that would create hundreds of jobs.

Despite government support and having an office in the Federal Mills business precinct in North Geelong since May 2018, there has been no sign of any permanent jobs being based there.

Mr Redenbach said the Geelong base would support its global operations and be an innovation hub. “We are very committed to making sure we not only put jobs on but engage with the community in Geelong,” he said.

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Mr Redenbach said LiveTiles was one of the fastest-growing software as a service companies in the world, with its business model featuring a compounding effect best measured by annual recurring revenue, which was up 130 per cent in the past year.

The company reported 1031 recurring revenue customers at the end of 2019.

It recently announced a deal with Canva to integrate its graphics design capacity within the LiveTiles platform.