A rapidly growing Warwick-based company which has developed a highly accurate motion-based measuring tool for a wide number of industries such as landscaping and construction, is set to take the firm to new heights by launching two new devices.
Moasure, which the Sunday Times ranked as the 40th fastest-growing private company after boosting turnover by almost 120 percent in three years, has unveiled its second generation of products to increase accuracy even further and potentially break into new markets.
The company, based at the Warwick Innovation Centre—part of the University of Warwick Science Park—is behind the handheld Moasure ONE tool. This tool enables users to ‘draw’ an area in two or three dimensions before a diagram appears on a linked smartphone app showing the perimeter, area, volume, elevation changes, and more.
The device has been very popular in a variety of sectors, but most prominently in landscape gardening in the USA, where outdoor space is typically much larger and inaccurate measurements of complex gardens can be incredibly costly if materials are over-ordered.
This success led to the firm turning over £8.8m last year and growing to 54 staff members after starting with just six during the pandemic. Moasure also received two King’s Awards for Enterprise and recognition by the FT and Deloitte for its impressive growth, alongside a number of industry-based accolades.
It is one of many success stories for the Science Park, which celebrates its 40th anniversary this year, after initially supporting Moasure through its Ignite business incubation programme, offering flexible office space and a range of business support.
Now, after refining the algorithms used to calculate measurements, Moasure has launched the Moasure 2 Series, encompassed by Moasure 2 and Moasure 2 PRO, which offer even higher degrees of precision measuring – with the PRO version providing the most advanced level of motion-based measuring yet.
Co-CEOs Alan Rock and Mo Hussain feel that while growth has already been tremendous for Moasure, the new products will enable the firm to break into new markets.
Mo 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.
“In the US, there are plenty of people who need custom-made covers for their swimming pools, which can be very difficult to fabricate. Moasure 2 PRO can turn what can be a two-person, three-hour task into a five-minute job.
“And stairlift installation is another laborious task that can take hours, generally involving several visits from the installer. Moasure 2 PRO can enable the installer to measure the three-dimensional space accurately and quickly, saving time and money for both the installer and the customer.
“We’re really excited about the future – we think we can continue to double our turnover in the next year and create even more jobs here in Warwick.”
The news comes as the University of Warwick Science Park celebrates its 40th anniversary this year, and also coincides with Moasure’s own milestone.
Alan 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.
“Having started out with us with support from Ignite it’s great that in our 40th year we can see how we continue to help businesses achieve success.”
CAPTION – From left: Jane Talbot, Mo Hussain, and Alan Rock with new Moasure 2 products at its premises at the Warwick Innovation Centre