In my opinion one of the most exciting areas of the market to invest in is the information technology sector.
As technology improves and the world gets smaller, entrepreneurs have been able to turn an idea into a billion dollar company within just a few years.
Whilst many investors will be familiar with Australian tech success stories such as Aconex Ltd (ASX: ACX) and Altium Limited (ASX: ALU), they may be less so with the three fledgling companies listed below. Here's why I think they are ones to watch:
GetSwift Ltd (ASX: GSW)
GetSwift is an exciting delivery management software provider which aims to streamline an organisation's logistics. Its software optimises delivery routes, automates the dispatch process, and provides real-time tracking alerts. GetSwift has been growing strongly and now has clients in over 59 countries and 475 cities. One notable recent addition to its client base was Commonwealth Bank of Australia (ASX: CBA). The exclusive partnership will turn every Albert point of sale vendor into a delivery-ready store. GetSwift has estimated the deal to result in over 257,400,000 deliveries on its platform over the next five years, worth an estimated aggregate transaction value of $9 billion.
LiveHire Ltd (ASX: LVH)
This talent technology company provides its users with a software platform which creates a pool of pre-qualified job candidates to access when they need to recruit. Thanks to strong demand from big name clients such as Wesfarmers Ltd (ASX: WES) and Bupa, LiveHire recently reported an impressive 75% quarter-on-quarter increase in cash receipts. With a healthy cash balance of $18 million and its platform integrated with the world's largest job site Indeed, I think LiveHire could have a very bright future.
Nearmap Ltd (ASX: NEA)
Thanks to the potential of the lucrative U.S. market, I believe this aerial imaging company could deliver outsized returns for investors over the next few years. While there had been concerns over its slower-than-expected progress in the United States, I believe last week's update put those concerns to bed. According to the update Nearmap is on track to post its strongest trading quarter year-to-date with the addition of $3 million worth of incremental annualised contract value. I think now could be a great time to make a buy and hold investment.
