Livetiles Ltd (ASX:LVT) has added early-stage technology expert David Lemphers to its board as the company pursues a commercialisation strategy that includes partnering with Microsoft Corporation (NASDAQ:MSFT) (ETR:MSF) (BIT:MSFT) (SWX:MSFT) LiveTiles Bots, an automation tool to create artificial intelligence assistants.
The new non-executive director, Lemphers, has founded several AI and machine-learning technology companies in his career, including ZenDeals which was acquired by RetailMeNot in 2013.
LiveTiles aims to save organisations labour time on repetitive tasks.
READ: LiveTiles secures new North American customers
Lemphers was educated in Victoria on Australia’s east coast and is a deep-software engineering expert with an understanding of Microsoft’s systems.
He was the Silicon Valley giant’s principal software development engineering lead for the six months until December last year.
The director’s current roles include one as chief-technology-officer-in-residence at tech start-up accelerator Techstars.
He is also the founder and chief executive officer of Code Pilot.
Lemphers said: “I’m excited to join the LiveTiles board and look forward to working with the team.
“LiveTiles is truly making its mark as it continues to win over large enterprise customers with its innovative software and AI-driven offerings.
“I’m looking forward to being part of its ongoing success and working closely with the leadership team.”
LiveTiles client AI Sydney puts the fun in creating AI bots without coding.
READ: Livetiles delivers impressive quarterly result and provides positive outlook statement
LiveTiles non-executive chairwoman Cassandra Kelly said: “David’s deep experience in early-stage tech, expertise in artificial intelligence and machine learning, plus strong understanding of the Microsoft ecosystem, will undoubtedly bring new and valuable insight that we can leverage.”
Kelly expected the company would draw on that insight as it continued to execute its product development and sales and marketing strategy.
LiveTiles works prospective clients through its key benefits.
Financial results
LiveTiles achieved a 275% increase in annualised recurring revenue to $15 million in the 2017-18 financial year.
New York-headquartered LiveTiles had 526 paying customers on June 30 time after “strong growth” in enterprise customers during the period.
The company which also undertakes its activities in Australia increased its number of transacting partners by 40% to 94 in the 2018 financial year.
LiveTiles enables client CBM Technology produce quotes for branded SharePoint websites that start at $5000 rather the upwards of $50,000 they used to be priced from.
Partners and acquisition activity
The company also launched its LiveTiles Bots in the year and enjoyed strong demand for the LiveTiles Intelligence AI.
LiveTiles snapped up a Microsoft-aligned business known as Hyperfish in a deal executed in June.
The company revealed last week its strategic partnership with Microsoft had been generating a “substantial pipeline of sales opportunities”.
LiveTiles reported: “Heightened brand and product awareness (was) driven by Microsoft’s strong endorsement of LiveTiles’ products.”
Microsoft also helped foster opportunities for the company and build its display when the software giant displayed LiveTiles Bots during its Inspire global conference in Las Vegas in July.
LiveTiles said: “Investment in sales and marketing initiatives and strategic partnership with (Microsoft sales and marketing vendor) N3 expected to deliver another year of strong customer and revenue growth in financial year 2019.”
Atlanta-based N3’s other clients include German software multinational company SAP SE (ETR:SAP) (NYSE:SAP), IBM (LOND:IBM) (NYSE:IBM) (ETR:IBM) (NYSEARCA:IBMG) and Cisco Systems, Inc. (NASDAQ:CSCO) (ETR:CIS) (SWX:CSCO) (VIE:CSCO).
LiveTiles draws on N3 sales and marketing resources, with the partner also promoting the company.
LiveTiles chief financial officer Matt Brown will present at the inaugural ASX Small and Mid-Cap Conference in Sydney on Thursday, September 6. To attend the conference, register here.