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Business & Economy

Gosforth’s iamproperty ‘set up for success’ after record year

A property tech sales firm is primed for “continued growth” following a “phenomenal year” of record financial results, bosses have said.

Iamproperty saw revenue rise 45 per cent to £55 million in the year to October 31.

Gross profit increased 48 per cent to £26 million, with earnings before interest, tax, depreciation and amortisation up 31 per cent to £7 million.

And the Gosforth-headquartered company, which provides sales software to estate agencies across the country, also doubled staff numbers to more than 480.

Its growth was supported by a deal for VTUK, whose CRM software helps agents automate day-to-day operations.

Ben Ridgway, co-founder, said: “2022 was a phenomenal year for the business, and we’re incredibly proud of our team.

“The last two years have seen us innovate products and services, as well as acquire new businesses, to accelerate agents’ success and improve the home buying and selling process.

“2022 has set us up for success and continued growth as we prepare to enter a new era of product and service innovation, aligned to our vision for an iamproperty ecosystem.

“It will be a new solution that we hope will be transformational not just for the business and our partner agents, but for the property industry.”

Iamproperty is backed by private equity operator LDC.

Gareth Marshall, LDC partner and head of the North East and Scotland, added: “Ben and the rest of the team have had another remarkable year.

“They’ve shown, once again, that prioritising innovation helps businesses to grow in complex and fast-moving markets.”