Ackroo announced Monday it set a revenue record in 2018 thanks to what the Ottawa firm’s CEO is calling a 'transformational year' for the company
Driving the revenue growth at Ackroo is an acquisition that closed late last year
Acquisition in late 2017 'instantly made the business profitable' and extended the Ottawa-based firm's reach into more than 2,400 locations.
A recent acquisition bolstered year-end results for Ackroo, which in turn has led Ottawa’s loyalty program provider to set some lofty goals for the years ahead.
Software developed by loyalty and rewards firm now used by more than 500 restaurants.
Ackroo CEO Steve Levely said the deal will almost double his firm’s recurring revenues.
“Hitting cash-flow positive is an important goal for the company, and we are now very much in reach of doing so.”
An Ottawa-based provider of loyalty and gift card technologies for retailers says it plans to raise up to $500,000 to fund its ongoing growth.
Ackroo, an Ottawa firm that provides loyalty and gift card technologies for retailers, finished its 2016 fiscal year with significant revenue growth and cash on hand heading into 2017.
Ottawa-based Ackroo (TSX-V:AKR), which develops gift cards and loyalty rewards technology for retailers, said it’s secured a much-needed cash injection and plans to hire more staff.