New Listing: FirstWave Cloud Technology Limited FCT.ASX - Friday 20 May

A SaaS technology company, with revenue, in the growth space of cloud security technology! FirstWave had its origins in Telstra Research Labs, with the company now providing the tech under a white label agreement with Telstra. FirstWave's platform now supplies a mix of 350 Government and large enterprise customers (including some big 4 banks and ASX listed co's). Despite recent press about the number of tech listings, with large valuations and minimal revenue, FirstWave has reported A$2,599m in HY2016 alone, and a valuation at listing of ~A36m. Or in terms of revenue growth, Total Contracted Value/Revenue is growing 29% & 28% respectively - year on year. FirstWave raised the max A$8m at A$0.20 (oversubscribed), and will commence trading this Friday 20th May 2016 (FCT.ASX). Please find a link through to a summary and the prospectus, for those interested (VIEW LINK)