Fulcrum expands across the Tasman

Fulcrum chair Cassandra Kelly (left) and chief executive Simon Pomeroy. Picture / Anna Zhu Photography & Film.

A Kiwi-founded tech company that helps businesses use their own data to improve their bottom line has expanded across the Tasman.

Fulcrum's technology helps companies quickly extract data from their own systems and presents it in usable format to help firms solve "pain points" in their businesses.

Fulcrum chief executive Simon Pomeroy said many businesses don't use the bulk of the information they hold in places like a customer database or the records of their transactions.

This data was a huge "untapped asset", said Pomeroy, who previously was Westpac New Zealand's chief digital officer.

"We will fundamentally change the way organisations use data ... for commercial and customer gain," he said.

"One of the major benefits to the Fulcrum solution is that it is always on enabling data to be continuously analysed and decisioned, 24/7/365 days a year, which is impossible to achieve using staff who are limited to week days and business hours," he said.

"By reducing the time it takes to manually collate data from hours into minutes and communication to customers from weeks to hours, companies are able to be more responsive to their markets, and to activate marketing and business initiatives within the day, rather than over the course of the month or even several months."

Once Fulcrum could prove to a client that its model delivered a return on investment, the technology could be rolled out across other parts of a business, he said.

"We have clients now that we're solving 20 or 30 pain-points for at any given time," he said.

Fulcrum has seven clients so far, including two large corporates in New Zealand and two ASX-listed businesses across the Tasman, he said.

It launched in Australia this month and has now shifted its head office to Sydney. The company also aims expand into Asia and the United States by the end of this year. It has 17 staff on both sides of the Tasman.

Chairwoman Cassandra Kelly, who lives in New York, said Fulcrum hoped to move into North America as soon as was practical.

"By the time we go there we will have a very compelling story to tell," Kelly said.

The business, started in 2015, was in the "extremely fortunate position of making money" she said.

Fulcrum was incubated through Auckland's Foundry Innovations last year and raised $2 million in capital from Australian investors.