Marketboomer Company Profile

Background

Overview

Founded in 1995 and headquartered in Sydney, Australia, Marketboomer is a leading provider of cloud-based digital procurement solutions tailored for the hospitality industry. The company's mission is to streamline and optimize buyer-seller interactions, enabling businesses to trade more effectively and achieve significant cost savings. With a presence in 23 countries, Marketboomer serves over 10,000 active monthly buyers and maintains a network of 20,000 suppliers.

Mission and Vision

Marketboomer aims to revolutionize procurement processes within the hospitality sector by offering innovative, user-friendly solutions that enhance operational efficiency and reduce costs. The company's vision is to be the global leader in hospitality procurement technology, fostering seamless connections between buyers and suppliers.

Industry Significance

As a pioneer in proptech, Marketboomer has significantly impacted the hospitality industry's procurement landscape. Its solutions are utilized by major global clients, including InterContinental Hotels Group (IHG), Accor, Marriott, Capella, and Qantas, underscoring its critical role in enhancing procurement efficiency and cost-effectiveness within the sector.

Key Strategic Focus

Core Objectives

Marketboomer's strategic focus centers on:

Enhancing Procurement Efficiency: Providing tools that automate and streamline purchasing, inventory management, and invoicing processes.

Cost Reduction: Enabling clients to achieve estimated savings of 7-12% on purchasing and operations.

Global Expansion: Extending its market reach in Australia, Southeast Asia, and the United Kingdom.

Areas of Specialization

Marketboomer specializes in delivering eProcurement solutions specifically designed for the hospitality industry, addressing the unique challenges and requirements of this sector.

Key Technologies Utilized

The company's flagship product, PurchasePlus, is a 100% cloud-based platform that enables organizations to manage and automate purchasing, inventory, and invoicing processes. It offers a secure, centralized solution with real-time pricing and supplier information.

Primary Markets Targeted

Marketboomer targets the global hospitality industry, including hotels, resorts, and airlines, with a particular emphasis on expanding its presence in Australia, Southeast Asia, and the United Kingdom.

Financials and Funding

Funding History

In June 2024, Marketboomer secured a $4.9 million investment led by the Salter Brothers Tech Fund, which, along with co-investors, acquired approximately 20% of the company's shares.

Notable Investors

Salter Brothers Tech Fund: A Melbourne-based fund manager with over $3 billion in assets under management, focusing on later-stage investments in sectors such as telecommunications, software, fintech, healthtech, and real estate technology.

Utilization of Capital

The investment is intended to:

Enhance resources in the Australian market.

Support further expansion in Southeast Asia and the United Kingdom.

Provide liquidity for existing investors.

Technological Platform and Innovation

Proprietary Technologies

Marketboomer's proprietary platform, PurchasePlus, is a cloud-based eProcurement SaaS solution that enables organizations to manage and automate purchasing, inventory, and invoicing processes. It offers clients a secure, centralized solution with real-time pricing and supplier information.

Significant Scientific Methods

The platform incorporates features such as Real Time Marketplace, which provides live, up-to-date pricing based on real-time data, ensuring clients receive the best value for their purchases.

Leadership Team

Key Executives

Malcolm Jull: Chief Executive Officer

Joe Ward: Co-Founder

Nathan Gyaneshwar: Co-Founder

Karny Dhah: Head of Finance

Competitor Profile

Market Insights and Dynamics

The global hospitality procurement market is characterized by a growing emphasis on digital transformation and cost optimization. The adoption of cloud-based eProcurement solutions is increasing, driven by the need for efficiency, transparency, and scalability.

Competitor Analysis

Marketboomer's primary competitors include:

Coupa Software: Develops a cloud-based business spend management platform.

InstaSupply: Provides a cloud platform for businesses to track and control spend across suppliers.

Tradogram: Offers a cloud-based business spend management platform.

Procure Xperts: Provides procure-to-pay solutions.

Strategic Collaborations and Partnerships

Marketboomer has established significant partnerships with major global clients, including IHG, Accor, Marriott, Capella, and Qantas. These collaborations enhance the company's market position and innovation capacity.

Operational Insights

Strategic Considerations

Marketboomer's strategic considerations include:

Market Position: Leveraging its established presence in 23 countries to strengthen its market position.

Competitive Advantages: Offering a specialized, cloud-based eProcurement solution tailored for the hospitality industry, providing real-time pricing and supplier information.

Strategic Opportunities and Future Directions

Strategic Roadmap

Marketboomer's strategic roadmap focuses on:

Global Expansion: Further penetrating markets in Southeast Asia and the United Kingdom.

Product Enhancement: Continuously improving the PurchasePlus platform to meet evolving client needs.

Client Acquisition: Expanding its client base by targeting additional major players in the hospitality industry.

Opportunities for Expansion

The company is well-positioned to capitalize on the increasing demand for digital procurement solutions in the hospitality sector, leveraging its established platform and industry expertise.