Sonovate is contract finance tailored exclusively for the recruitment industry and provides both the funding and back-office support needed to run a successful, efficient contract business. Designed to provide the finance and back-office and technology to support to run contractors, Sonovate removes many of the headaches associated with old-fashioned finance products such as Invoice Discounting & Invoice Factoring. Sonovate frees agencies from the burden of contract administration, allowing them to do more deals, grow sales teams and develop top billers.
Type
Private
HQ
London, GB
Founded
2012
Size (employees)
87 (est)+7%
Sonovate was founded in 2012 and is headquartered in London, GB
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Sonovate Office Locations

Sonovate has offices in London and Cardiff
London, GB (HQ)
80 Cannon St
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Sonovate Financials and Metrics

Summary Metrics

Founding Date

2012

Total Funding

$21.5 m

Latest funding size

$16.50 m

Time since last funding

2 years ago

Investors

Sonovate's latest funding round in February 2016 was reported to be $16.5 m. In total, Sonovate has raised $21.5 m

Sonovate Financials

Sonovate's revenue was reported to be £1.83 m in FY, 2016 which is a 48.8% decrease from the previous period.
GBP

Revenue (FY, 2016)

1.8 m

Revenue growth (FY, 2015 - FY, 2016), %

(48.8%)

Gross profit (FY, 2016)

1.7 m

Gross profit margin (FY, 2016), %

90.8%

Net income (FY, 2016)

(2.2 m)

EBITDA (FY, 2016)

(1.8 m)

EBIT (FY, 2016)

(1.8 m)

Cash (30-Jun-2016)

1.7 m
GBPFY, 2015FY, 2016

Revenue

3.6 m1.8 m

Revenue growth, %

(49%)

Cost of goods sold

2.8 m167.8 k

Gross profit

757.1 k1.7 m
GBPFY, 2012FY, 2013FY, 2014FY, 2015FY, 2016

Cash

155.7 k26.4 k641.4 k29.7 k1.7 m

Accounts Receivable

158.2 k752.5 k2.8 m2.9 m11 m

Current Assets

313.8 k778.9 k3.5 m3.3 m13.3 m

PP&E

1.6 k13.5 k17.7 k82.9 k
GBPFY, 2015FY, 2016

Net Income

(1.7 m)(2.2 m)
GBPY, 2016

Financial Leverage

104.1 x
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