Neto Expands to US

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By Published On: September 4, 20180 Comments

In under a decade, Neto has gone from strength to strength, announcing its plans to tap into the US market following a stellar 2018 financial year.

Australian retail management platform, Neto, will expand into the US market, announcing plans to open a Denver-based office.

The news comes after its 55 percent year-on-year Australian revenue growth in fiscal year 2018. Founded in 2009, key customers include Edible Blooms, Spotlight, Bicycles Online, Anaconda and Hoselink

Over the past 12-months Neto has experienced its largest year-on-year increase in revenues across its 9-year history and a 41 percent increase in merchant sales transaction activity to $1.5 billion annually. In 2018 the company also developed key marketplace integrations with Amazon and Google, and integrated a number of new partner offerings into its platform.

“When you consider the total available market in the US is 30-times the size of Australia, we’re anticipating a very healthy start and ongoing growth trajectory come September,” said Ryan Murtagh, CEO and founder of Neto.

“We chose Denver as our base for a number of reasons but primarily because Denver is culturally aligned to Brisbane in terms of its strong start-up tech community and the experienced talent available,” Murtagh explained.

The entire  platform was also recently migrated to Amazon Web Services (AWS) to ensure a highly scalable and secure solution is available to customers anywhere in the world.

“The USA is step one in our international growth strategy and will complement our focus on Australian customers and growing business in this market,” says Murtagh. “That said, the rise of the global marketplace saw it cross the trillion-dollar mark in 2016 and Australia represents roughly one percent of that global retail trade. The international opportunity ahead for us is incredible.”

In 2017 Neto placed in the top 10 of the Australian Financial Review’s Most Innovative Companies, was listed in The Australian Financial Review’s Fast 100, and Murtagh was named Brisbane’s Trailblazer of the Year and placed 8 in the Top 40 under 40 entrepreneurs.

“Neto has always punched above its weight, right back from when we started in a suburban warehouse nine years ago”, said Murtagh. “It’s been a fast and adventurous ride and right now we’re standing on the precipice of a major milestone in terms of our growth and international expansion. We’re super excited about what the future holds and will ensure we always deliver the best product and experience possible for our customers.”

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