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
Sonovate was founded in 2012 and is headquartered in London, GB

Sonovate Office Locations

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

Sonovate Data and Metrics

Summary Metrics

Founding Date

2012

Total Funding

$21.5 m

Latest funding size

$16.5 m

Time since last funding

over 1 year

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 Financial Metrics

Sonovate's revenue was reported to be £1.8 m in FY, 2016 which is a 49% decrease from the previous period.
Numbers are in £, GBP

Revenue (FY, 2016)

1.8 m

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

(49%)

Gross profit (FY, 2016)

1.7 m

Gross profit margin (FY, 2016), %

91%

Net income (FY, 2016)

(2.2 m)

Cash (30-Jun-2016)

1.7 m
Numbers are in £, 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

Gross profit Margin, %

21%91%

Operating expense total

2.2 m3.5 m

Pre tax profit

(1.7 m)(2.2 m)

Net Income

(1.7 m)(2.2 m)
Numbers are in £, GBPFY, 2014FY, 2015FY, 2016

Cash

641.4 k29.7 k1.7 m

Accounts Receivable

2.8 m2.9 m11 m

Current Assets

3.5 m3.3 m13.3 m

PP&E

13.5 k17.7 k82.9 k

Goodwill

41.9 k18.9 k2.4 k

Total Assets

3.5 m3.3 m13.4 m

Accounts Payable

1.2 m165.7 k1.9 m

Current Liabilities

1.2 m2.3 m10.5 m

Retained Earnings

(1.7 m)(2.2 m)

Total Equity

(1.3 m)(2.3 m)129 k

Financial Leverage

-2.6 x-1.4 x104.1 x
Y, 2016

Financial Leverage

104.1 x

Sonovate Online and Social Media Presence

Sonovate Company Life and Culture

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