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ShareRoot transforming into multi-platform digital healthcare company

Snapshot

The company provides a software as a service (SaaS) platform for social media marketing.

CEO at CEO Session

Quick facts: ShareRoot Ltd

Price: 0.001 AUD

ASX:SRO
Market: ASX
Market Cap: $2.96 m
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  • ShareRoot appointed Michelle Gallaher as chief executive officer on March 15, 2019
  • In May experienced biotechnology and medical technology industry executive Dr Julian Chick was appointed chairman
  • The company received $200,000 from major investor Antanas Guoga during the March quarter to access R&D tax and other government initiatives
  • ShareRoot plans to spend a total of $671,000 this quarter with $211,000 allocated to research and development

What does ShareRoot do?

ShareRoot Ltd (ASX:SRO) is applying its existing expertise and platform technologies to deliver digital, data and artificial intelligence (AI) technologies and services to the global healthcare sector.

The company was founded in a Berkeley garage in 2013 with an initial focus on helping brands advertise on Pinterest and in December 2014 re-emerged with a legal rights management and user-generated content (UGC) marketing platform.

After an extensive review process, this year the company has focused heavily on rebuilding its foundation and recalibrating the strategic direction with a heavy focus on digital technologies in the healthcare space.

A key near-term priority for the company has been to optimise the revenue generating areas of the business, improve operational efficiencies and consolidate resources to conserve cash.

The outcome has been a reduction in overall running costs, more efficient company operations, redefined focus and a strategic direction for the company in the growing digital healthcare industry.

ShareRoot is well positioned to become a major player in the marketing data and privacy protection space as awareness around consumer data and privacy issues continue to expand, making the company’s platforms more timely than ever.

In March 2019 the company appointed Michelle Gallaher as chief executive officer.

Gallaher’s previous role was co-founder and managing director of The Social Science (TSS), a specialist social media marketing agency acquired by ShareRoot last year.

Gallaher has been an entrepreneur, allied health clinician, advocate and leader in the Australian life sciences and health sector for more than 25 years and won the Telstra Victorian Business Woman of the year as well as Victorian Entrepreneur of the year in 2017.

In May ShareRoot appointed Dr Julian Chick as chairman with more than 25 years’ experience in the biotechnology and medical technology industry as well as five years in investment banking.

Having led both public and private companies, Dr Chick’s previous roles include investment adviser, health analyst for private equity investors, portfolio manager, investment banker and venture capitalist.

Gallaher spoke last month at Proactive’s CEO Session in Melbourne about the company’s shift in applying its expertise to deliver digital data and artificial intelligence services and technologies to the global healthcare sector.

The decision came after the strategic review, which outlined plans to enter the US$84 billion healthcare data market.

What does ShareRoot own?

ShareRoot has three core focus business units – ShareRoot, The Social Science (TSS) and Ludomade. 

The legal rights management UGC platform, ShareRoot was the first product the company created with clients including Johnson&Johnson, McDonalds and Costco.

The UGC platform allows users to configure their very own interactive gallery of content which can be embedded to website pages, blogs, Facebook or standalone microsites. 

Features such as a branded community page offer optional interactive elements that can be updated in real time remotely.

ShareRoot is in the process of launching the MediaConsent platform, which is the first platform to give consumers and citizens control of their data and privacy through a preference and consent management dashboard.

Social media marketing agency TSS became part of the ShareRoot group in April 2018, providing the client services and account management layer behind the group’s technology properties.

TSS is a social media marketing and communications agency offering services such as content creation, digital advertising, analytics and insights and strategies to help clients reach their communication goals.

The third business unit, Ludomade, focuses on crafting digital experiences that result in award-winning web design, mobile games, social content and experiential activations.

Inflection points

  • Over the next 12 months ShareRoot is set to expand its technology offerings and platforms to rapidly build revenue
  • Looking to collaborate and partner in non-core industries to cost effectively increase revenue streams
  • Focusing on the US$86 billion healthcare industry

“This is a very exciting time”

In April 2019 ShareRoot chief executive officer Michelle Gallaher said the company had been spending time researching, trialling and designing new technology and service concepts to address the high value biopharma and healthcare market.

She said: “There is virtually no healthcare, diagnostic or biopharma organisation in the world that is not gearing up to incorporate artificial intelligence, digital and data.

“This is a very exciting time as the global sector is developing at an extremely rapid pace and because of the leadership position of The Social Science, our knowledge of the life sciences and health markets we are very placed to compete.”

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