Craig Richardson, chief executive of the Wynyard Group.
Craig Richardson, chief executive of the Wynyard Group.
Crime analytics software company Wynyard Group is "well and truly on track" to hit its full-year revenue goals after a week in which the company raised $40 million in capital and signed a deal with US-listed company Motorola.
Wynyard Group chief executive Craig Richardson did not say how much thedeal was worth but said Motorola had signed on to a minimum revenue commitment.
He said the deal would provide Wynyard with access to around 12,000 of America's approximately 18,000 law enforcement agencies.
"We've given our view of the full year and this puts us well and truly on track to hit $40 million to $45 million revenue this year, and this is an important part of that," Richardson said.
"The opportunity it creates for us is distribution into the massive US market, which has always been challenging for New Zealand companies, and because Motorola Solutions is a market leader in the US for law enforcement agencies, with their distribution channel and our technology it's almost a partnership made in heaven."
More than 100,000 Motorola customers in law enforcement and national security sectors would have access to Wynyard's crime analytics software as a result of the deal, which was also the first software as a service product the company had launched into that market, something Richardson said would give agencies a more affordable way to use its software. He said the deal was validation that the company's US strategy was working.
"It's a really positive first step for us in terms of scaling in the US," Richardson said.
Wynyard raised $40 million this week to fund further expansion plans with a mixture of local and international investors coming on board, including MYOB founder Craig Winkler, who said he was proud to be assisting the growth of Wynyard.
