ARANZ Geo (now Seequent) has been selected as a finalist in the 2013 New Zealand International Business Awards following impressive revenue and market growth over the past three years. The developer of Leapfrog 3D geological modelling solutions, which exports 99.8% of its software to virtually every part of the globe, is vying for the ANZ Best Business Operating Internationally – Under $10m Award.
Seequent’s 3D geological modelling solutions for the mining, hydrogeology and geothermal industries enable executives to make dramatically better decisions to allow more resources to be found more efficiently. The company’s Leapfrog 3D software, which has revolutionised the way geological models are developed and used, has seen the company’s revenues double each year from around $2million in 2010 to over $8million in 2012.
Shaun Maloney, CEO of Seequent, says, “It’s a great honour to be named as a finalist for such a prestigious award. It’s a great acknowledgement for the team and it recognises the huge effort they’ve put in striving for excellence on the world stage.”
Maloney says the company has been very targeted in its approach to opening up new markets.
“We began with Australia, North America, Mexico and South Africa, and then moved to South America and Central Europe. We’ve been able to grow our user base rapidly, without overextending our reach with a network in market partners.”
The company’s fortunes changed dramatically when they embarked on an aggressive three year growth strategy in 2011. Two years into this plan, revenues, profitability and market share have grown by 300% with further growth on target for year three. A key goal was to win the top 10 mining and exploration companies in the world as customers; a goal the company has already achieved.
“We moved from being a niche-focused software development business to taking ownership of our existing customers and becoming a full service provider with global presence owning the entire end-to-end customer experience. Over the past two years we’ve built the team from 19 to over 50 and built our distribution network up from 3 to over 35,” says Maloney.
Seequent is continuing to grow rapidly. Maloney says that while the bulk of their business has traditionally been in the mining area, significant recent growth in the global geothermal market is increasing uptake for their geothermal solutions and demand for their hydrogeology solution is also growing.
To support the Christchurch based headquarters, Seequent has a network of local support offices including Canada, United States of America, Peru, Chile, United Kingdom, Denmark, Turkey, South Africa, and Australia. A presence is also being set up in Brazil.
Winners of the 2013 New Zealand International Business Awards will be announced at a ceremony on 26 September 2013.