Invigor Group secures $775,000 in new work for its workforce management solution

By Meagan Evans. Published at Mar 20, 2018, in Technology

Invigor Group Limited (ASX:IVO) this morning confirmed that its mobile workforce management solutions division has secured new contracts and signed work orders for Skyware of €485,000 (~A$775,000) over the last three months.

Skyware, soon to be rebranded as Tillerstack, is a unique cloud-based platform assists ecommerce companies in managing mobile workforce deployments to streamline delivery and mobile order management. It includes automated GPS-assisted field force dispatching as well as mobile order management functionality, which can deliver cost savings and greater productivity.

The new contracts include significant recurring revenue from Unity Media Group, which is Skyware’s longest standing customer, together with leading European renewable energy production group, Enertrag, as well as Edeka, which is one of Europe’s largest food retailers.

Skyware’s growing order pipeline for 2018, in conjunction with the addition of the new contracts and work tenders, means IVO is confident that Skyware is well on track to meet the revenue target of $2 million for 2018, and with substantial opportunity for growth in ensuing years.

IVO has also confirmed that it banked $500,000 from the Sophisticated Investor, which provides the Investor with the option to convert to a 5% cornerstone shareholding in Tillerstack, which will house Skyware following the sale of Condat.

The Investor group has agreed to exercise its option to invest a further A$500,000 with the option to convert into Tillerstack on the same valuation metrics, resulting in a total A$1 million investment for 10% of IVO. IVO will assess opportunities to unlock the value of TillerStack for all shareholders.

It should be noted, however, that this is an early stage tech company and success is no guarantee. Investors should seek professional financial advice before making an investment.

Invigor CEO, Gary Cohen said: “These new contracts and work orders again confirm the outstanding growth potential of Skyware, and it further strengthens the sales and revenue pipeline for this very high growth division of Invigor’s.

“This potential is also reaffirmed through the $1 million investment we have secured for a potential 10% stake in Tillerstack, which will enable the Company to accelerate its plans to unlock the value of this fast growing business.

“Overall, we are very pleased with the progress being made with the Skyware division. More updates are pending.”

View Our Investment Portfolios

S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

Publishers Notice

The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.

Australian ASX Small Cap stocks | Why is Australia’s leading small cap publication

Founded seven years ago, is Australia’s leading and longest standing website for investor and finance news, education and expert opinion.

Published by StocksDigital, Finfeed was created to report daily on the comings and goings of ASX listed stocks in the small cap market.

As the first digital publication dedicated specifically to this space, Finfeed soon became the most trusted publication in the market, quickly garnering over two million page views – a number that continues to rise. provides its readers with informative articles that tackle the latest in market moving #ASX small cap news, plus exclusive content you won’t find anywhere else. It is aimed at those with an interest in investing, market education, company performance, start-ups and much more. is the only media organisation operating under the strength of a Financial Services License and is backed by leading journalists and analysts all with brands of their own.

The website aims to inform, educate and entertain with content that drills down into the heart of financial matters.

Finfeed is a leading source of investor and market information, with everything investors need to know about how to invest written in a way that anyone can understand. 

Over the years, the website has expanded beyond exclusively reporting on small caps, to profile Australia’s leading ASX listed small, mid and large caps as well as some of the country’s most successful CEOs and business leaders to find out what makes them tick.

Every day you will find fresh content covering:

Fast Facts

Over 4,000 articles published

Over 2.3 Million Page Views and counting

Over 10,000 followers on social media

Subscriber list growing by 2% monthly

Thanks for subscribing!