As we land our mugs on the front cover of The Australian Business Review today, we thought we’d give you the full story.
95% of technology start-ups fail. 75% in their first year. It’s a miserable statistic – but living proof of the time, energy, intelligence, resources and luck required to make a technology platform reach its full potential. So then, it’s quite remarkable that iSeekplant is enjoying its fourth year on the internet, purely from a statistical point-of-view.
But what’s more remarkable is that iSeekplant.com.au, as of today, has almost 3,500 plant and equipment suppliers on our platform, nearly 100,000 users per month, seven major contractors using our P3 Plant Procurement Platform, 36 advertisers on our system, 55,000 readers of our blog and every single main roads’ registered contractor in the country has used our system in the last 12 months to find gear and some of them now use it up to three to four times per week.
This incredible industry uptake is what attracted the largest and most influential media, mining and industrial services company to sit up and take notice. They agreed with us that the plant and equipment hire market was ripe for a shake-up. They’ve backed iSeekplant as the team going to make that shake-up happen.
Seven Group Holdings recently purchased a minority stake in iSeekplant for a multi-million dollar capital investment. Seven’s investment in iSeekplant is in keeping with their investments in media, plant and equipment, as well as their interests spanning mining, resources, oil and gas and technology.
In our opinion – there is no cornerstone investor in Australia better positioned through aligned businesses and media reach, to help online plant hire reach its full potential than the Seven Group.
We hope you caught our article in The Australian today with Ryan Stokes, CEO of Seven Group Holdings. Click here for the online version.
So what does this all mean for you as our customers, friends, partners & users?
Well, it means that iSeekplant will dominate the online plant hire space as it grows and proliferates. We have more marketing resources than ever before to drive traffic to our platform. We have more people finding major project work for our customers and ensuring contracting companies know how to use our tools to find our customers. We will be releasing more very cool technology that continues to streamline procurement and solves big headaches for our customers.
Even with our foot-to-the-floor in ‘supercharge’ mode - nothing actually changes about our central mission or how we do business, we’re just able to spread the word better. We remain independent of any one business and of Seven, and focused on high quality SMEs with plant and equipment, offering them a digital footprint online where they often don’t have one. We continue to believe that the best thing for construction and mining industries is to maintain our highly fragmented supplier market – which is typified by thousands of small operators with great machines and great service.
Seven picked iSeekplant as the ones to back - because our ‘low-touch’ platform focuses on one-to-one interactions between contractors and plant hire suppliers with the ultimate purpose of getting machines out on floats. We believe connecting contractors and plant hire suppliers more easily together over the phone is the key to making the industry more efficient and protecting the profitability of plant hire contracts. Our platform has been designed to ensure contractors and suppliers are able to talk about their requirements and negotiate, and that our customers have a chance of winning every job opportunity they gain through our system in a sustainable way, and on profitable terms.
At every single crossroads, business question or challenge we’ve been faced in the last 4 years, we’ve always asked ourselves the same question: what is going to make it better for the industry, for our users or our customers? Many times we’ve done something contrary to our best interests as a growing business because it’s been in the best interest of our audience. This is because we knew we’d ultimately succeed if we just kept developing good technology that made people’s lives easier and didn’t destroy what has always been great about construction – the people, handshakes and relationships that businesses are built on. Turns out, we were right.
As always, we welcome your guidance, contribution and feedback as we all work towards an online plant hire marketplace that transforms businesses in a really positive way.
We have not reached our destination yet – our platform is still growing, changing, evolving – our technology is being redesigned and redeveloped everyday.
Thanks for being on the journey with us… it’s been a hell of ride so far. And it’s about to get much, much more exciting…
Hang onto your hard hats…
Sally McPherson - Chief Executive Officer, iSeekplant.com.au