Technology

LoopUp Group plc

Analysts

Company Description

LoopUp is a Cloud communications platform for premium external communications for business users. Its key platform capabilities comprise Cloud telephony via Direct Routing integration with Microsoft Teams, remote meetings, and managed events. It acquired MeetingZone, a UK-based conferencing services provider, in 2018. LoopUp's customers benefit from a global fully-managed service, and an emphasis on security, reliability and simplicity. Its customers number over 5,000 organisations worldwide, including more than 20 of the world's top-100 law firms. The group is headquartered in London, with offices in San Francisco, New York, Boston, Chicago, Dallas, Los Angeles, Denver, Cardiff, Milton Keynes, Madrid, Berlin, Malmo, Hong Kong, Sydney and Barbados

Investment Summary

LoopUp has seen good traction with enterprise customers, and its process-centric and team-based sales approach lends itself to rapid scaling. LoopUp has managed its way through the challenges and opportunities brought about by COVID-19, and has a strong cash balance, a reinvigorated product line-up and some promising pipeline opportunities. It is currently in a period of transition, as the group evolves and continues promoting its Cloud Telephony offering within Microsoft Teams, both selling directly to enterprise customers and indirectly via the large Microsoft partner ecosystem. Meanwhile, the original LoopUp product has continued to evolve, with customers tending to prefer committed-term contracts that provide the group with good margins. It also remains active in the area of high-end webcasts and managed online events.

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