Lavasource, a human resources technology firm based in the Liverpool city region, has opened its first office in the United States. The company, which specializes in digital transformation for HR departments, has established a new base in Wilmington, Delaware, to support its growing North American client base and accelerate its international expansion.
The move follows a period of substantial financial growth for the company, which saw its annual revenues increase more than tenfold to £2.1 million in its most recent accounting period. This expansion adds to Lavasource's existing international presence in Canada, India, and Mauritius.
Key Takeaways
- Liverpool-based HR tech firm Lavasource has opened its first US office in Wilmington, Delaware.
- The company supports HR departments with digital transformation and operates a global talent marketplace.
- This expansion follows significant financial growth, with annual revenues rising from £197,000 to £2.1 million.
- The new US base aims to better serve the company's North American clients and tap into the region's technology market.
Strategic Expansion into North America
Lavasource, headquartered at the Sci-Tech Daresbury campus, has identified North America as a critical market for its services. The decision to open an office in Wilmington, Delaware, is a strategic step to strengthen relationships with its existing US clients and partners.
The company provides specialized support for large-scale HR transformation projects and runs what it describes as the world's largest dedicated talent marketplace for HR and HR technology professionals. By establishing a physical presence in the US, Lavasource aims to offer a more localized and responsive service.
"This is a natural next step in our journey," said Mark Brooks-Lewis, founder, owner, and chief executive of Lavasource. "North America is where many of our clients are headquartered, where much of today’s technology innovation is happening and where we’re seeing the fastest growth in demand for our services."
Brooks-Lewis emphasized the importance of being closer to the market. "Establishing a local presence allows us to better support our clients and partners, deepen relationships and deliver greater global impact," he added.
A Story of Rapid Financial Growth
The US expansion is supported by a strong period of financial performance for Lavasource, which was incorporated in 2020. According to its most recent accounts filed with Companies House, the firm has demonstrated remarkable growth.
For the accounting period ending March 31, 2024, which was extended by two months, the company reported annual revenues of £2.1 million. This represents a significant increase from the £197,000 in revenue recorded in the previous year.
Financial Highlights
- Annual Revenue: Increased from £197,000 to £2.1 million.
- Pre-Tax Profit: Grew from £22,298 to £276,184.
- Employee Growth: The team expanded from 3 to 15 employees.
This growth trajectory is also reflected in the company's profitability. Pre-tax profits surged to £276,184, a substantial rise from the £22,298 reported in the prior year. During this period of expansion, the number of employees also grew fivefold, from just three to 15.
Global Operations and Local Impact
Lavasource has already built a significant international track record, having delivered large-scale transformation projects in more than 70 countries. The company works with clients across a diverse range of industries, providing services that include strategic advisory, system integration, change management, and ongoing support.
The new Delaware office will enable Lavasource to deliver its full suite of services directly within the North American region, enhancing its ability to manage complex, multi-national projects for its clients.
About Sci-Tech Daresbury
Sci-Tech Daresbury is a national science and innovation campus located in the Liverpool City Region. It provides a collaborative environment for over 100 high-tech companies, ranging from startups to international corporations. The campus is a joint venture between Langtree, the Science and Technology Facilities Council (STFC), and Halton Borough Council, designed to foster innovation and business growth.
The company's success is seen as a testament to the supportive ecosystem at its UK headquarters. John Leake, business growth director at Sci-Tech Daresbury, commented on the expansion as a key milestone for one of its resident companies.
"We are incredibly proud to see Lavasource taking this bold step into the North American market," stated Leake. "Their growth is a powerful reflection of what Sci-Tech Daresbury is all about – creating an environment where innovative companies can thrive, scale globally, and realise their full potential."
As Lavasource begins its operations in the United States, the move signals a new chapter for the Liverpool city region firm, positioning it for further growth and a stronger foothold in the competitive global technology market.