Metaphor IT, announces its move to a new London Office, as strong organic growth continues and it outgrows its current location.
Metaphor IT, established in 2015, has grown considerably in the last three years, outperforming the founders original aggressive growth forecasts. Since inception, the London-based managed services provider has consistently achieved year on year growth in excess of 50%, outperforming its industry peers. The business has a heavy focus on contracted business and boasts in the region of 70% reoccurring revenue. The business expects the high level of organic growth to continue at current levels and has invested in its sales team to exceed the current growth levels.
Stuart Grist, Group Sales Director says, “I am extremely proud of the direction we have taken within the last year, with overall sales at a record high and reoccurring revenue continuing to increase With a strong sales pipeline, we expect this to increase year on year.”
The business, currently based in The Baltic Exchange building next to the Gherkin, will be a moving a few hundred metres down the road to a new City of London office. Having outgrown the existing facilities, Metaphor IT, have selected a new office building that will accommodate the projected growth of the next few years, whilst ensuring that it remains close to its City client base. The move will complete in early 2019 once a full refit is completed.
Richard Callis, Managing Director, comments, “We moved into the Baltic Exchange building two years ago to enable us to expand our London presence. I think we surprised ourselves with the level of success and growth that we have achieved in the past two years and it is great to now be moving into a new office to further the expansion of our business. Our organic growth has been very strong this year and I am particularly pleased with the growth of our contracted services. When clients want to sign into long term contracts, it shows the level of trust and belief they have in us as a business. We continue to look at acquisition targets to further our growth but we are particular in finding the right type of business.”