LoopUp Group PLC (AIM:LOOP)’s cloud telephony business appears to be going from strength to strength.
It has now extended its new direct contract wins to 23 this year with an additional eight new customers since the last update.
It said the wins represented a total contract value ranging from a baseline minimum of £2.1mln for initially committed and contracted deployment phases to an expected £7.9mln should geographic rollouts proceed as expected.
LoopUp said its sales pipeline of direct cloud telephony opportunities has also continued to grow and mature, and the total pipeline now stands at £63mln, 20% of which is at the later stages of the sales cycle (written proposal or later).
“The group's new cloud telephony contract wins and pipeline growth reflect its differentiated value proposition to relatively large, relatively international enterprises, enabling them to work with one vendor partner globally rather than multiple geographic-specific carriers,” the company said.