Milestone for Moasure as it launches two new products
Rapidly growing Warwick-based measuring technology firm Moasure has unveiled its second generation of products, in a bid to increase accuracy and break into new markets.
The company, which is based at the Warwick Innovation Centre, is behind the handheld Moasure ONE tool, which enables users to 'draw' an area in two or three dimensions before a diagram appears on a linked smartphone app showing such things as the perimeter, area, and volume.
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Moasure has been ranked the 40th fastest-growing private company by the Sunday Times after boosting turnover by almost 120% in three years.
Now, after refining the algorithms, the firm has launched the Moasure 2 Series, encompassed by Moasure 2 and Moasure 2 PRO, which offer even higher degrees of precision measuring.
Its co-CEOs are Alan Rock and Mo Hussain.
Hussain said: "We’ve had enormous success in the last three years, not only boosting our sales in the USA, but breaking into the European market by opening a depot in the Netherlands which has allowed us to access markets in Germany, France, and Italy.
"We’ve also broken into Canada and Australia, and are hopeful of establishing a market in Sweden in the near future, just with Moasure ONE.
"There’s still plenty of potential growth. We estimate we have a one or two percent market share of all possible Moasure ONE customers, and with Moasure 2 and 2 PRO, we’re aiming to grow our share in other markets as well."
Hussain said the company reckons it can continue to double turnover in the next year and create even more jobs in Warwick.
The Warwick Innovation Centre is part of the University of Warwick Science Park, which is celebrating its 40th anniversary this year.
The company's co-CEO Rock added: "While the Science Park has existed for 40 years, we’ve been at the Innovation Centre for 10 years, and that’s no coincidence.
"With the rate of growth that we’ve had, the Science Park’s flexibility in allowing us to take on bigger offices while staying in the same place has helped us to focus more on growing the business rather than having to find new premises.
"It’s great that we’re both celebrating anniversaries at the same time, and we hope the next ten years brings further success for both of us."
Jane Talbot, centre manager at the Warwick Innovation Centre, added: "The growth of Moasure during the team’s time with us has been nothing short of remarkable, and this is only set to continue with the launch of their new products.
"The flexibility we provide to move within the centre is really valued by our tenants, and Moasure is the perfect example of how quickly a company can flourish if it is able to focus on growth."
