Australian retail management platform, Neto, is expanding into the US market following strong Australian revenue growth in 2018. 

CEO and founder of Neto, Ryan Murtagh, will relocate for several months to set up operations and spearhead the company’s US growth in the new Denver-based office.  “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 Murtagh.

Founded in Australia in 2009, Neto is a retail and wholesale management platform providing a complete solution for ecommerce, point of sale (POS), inventory and fulfilment for both online and bricks and mortar stores. Some of Neto’s key customers include Edible Blooms, Spotlight, Bicycles Online, Anaconda and Hoselink.

Neto is the industry’s only retail and wholesale management platform that provides a complete solution for eCommerce (including an Amazon management platform), POS, inventory and fulfilment for small-medium sized retailers. Many of Neto’s customers were among the first Australian retailers to sell on Amazon when it launched in December 2017. Today Neto counts more than 3,000 online retail merchants as its customers.

The fast-growing company has experienced unprecedented growth across a number of performance metrics over the past 12 months. These include its largest year-on-year increase in revenues across its entire 9-year history, as well as a 41 percent increase in merchant sales transaction activity to $1.5 billion annually. To support this growth over the past three years Neto has tripled its employee numbers to approximately 150 people.

In 2018 the company also developed key marketplace integrations with Amazon and Google, and integrated a number of new partner offerings into its platform including SmartrMail, Streetpricer, Rejoiner, Seko and Glew.io.

“Not only is Neto growing, but what’s really pleasing to see is our customers’ sales transaction activity has increased significantly by 41 percent year-on-year to be more than $1.5 billion annually,” said Murtagh. “The overall number of items shipped across all of our customer product categories increased by 44 percent, and the overall number of active users on our point-of-sale (POS) interface increased 77 percent year-on-year.”

international growth strategy to complement focus on Australian customers

Neto says it is committed to delivering the best product and experience for customers and will remain responsive to the market through its agile and nimble team of developers based in Brisbane, Australia. Its entire platform was also recently migrated to Amazon Web Services to ensure a highly scalable and secure solution is available to customers anywhere in the world.

Murtagh says the company chose Denver as its base primarily because Denver is culturally aligned to Brisbane in terms of its strong start-up tech community and the experienced talent available.

“The USA is step one in our international growth strategy and will complement our focus on Australian customers and growing business in this market,” said 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.”

“We want to deliver the same service offering in the US that we offer here in Australia. That is people on the ground, accessible in local time-zones, who are experts in servicing our customers. Neto is much more than a software company. We’re the service that wraps around our software, and this truly sets us apart.”

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