A new contract win for Aberdeen firm STC Insiso in the US takes its total revenue haul from North America to date to more than £1.4 million.
The latest deal will see the business performance and risk control specialist deliver its investigation and assurance product, Comet Investigate, to Pilot Water Solutions (PWS).
Texas-based water logistics company PWS wanted to improve its understanding of “undesirable events and near misses” in its operations. It turned to STC Insiso and its root cause analysis tool for help.
PWS joins the Aberdeen firm’s growing portfolio of clients in North America.
The list also includes Cummins, McDermott and Texas-based oil and gas operator Western Midstream.
STC Insiso is now mulling the recruitment of a business development manager in Texas to pursue more opportunities there.
‘Exciting time’ for STC Insiso
Chief executive Mark Rushton said: “It is an exciting time for the company as we grow our presence in North America and welcome another valued international customer.
“I am extremely proud of the team behind Comet, which has existed for just over a decade and continues to evolve each year in terms of the product’s capabilities and the range of clients which we serve.”
Most of the North American revenue to date has been generated by Comet since its US market launch in 2019.
STC Insiso was created in 2021 through the merger of STC Global, which was already helping client firms improve their performance, and software development services firm Insiso.
Its activities span software development, project management, health and safety, and a variety of other business performance improvement services. The firm’s products are widely used in the oil and gas, construction, marine and utility sectors, among others.
Although most of the team support their international customer base from the company’s Aberdeen headquarters, several staff work remotely from overseas locations.
Our CEO, Mark Rushton, and our Head of Learning and Development, Craig Smith, engaged in a heartfelt conversation where they reflected on our journey as a company and the evolution and growth of our services
We can't wait to share this video with all of you. 🎥👏 🎥👏 pic.twitter.com/TrHOYU8OZi
— stc insiso (@stcinsiso) November 3, 2023
As well as the contract win with PWS, STC Insiso has formed a commercial and innovation partnership with engineering and construction company McDermott.
Texas-based McDermott is said to have contributed to the development of “invaluable functionality” within the Comet platform” and helped STC Insiso secure new business.
£2m cash injection
Recent success for the Aberdeen firm on the other side of the Atlantic comes hot-on-the-heels of a £2m investment by BGF, which is backed by some of the UK’s biggest banks.
STC Insiso’s overall revenue totalled £4m in 2022 and the annual figure was expecteded to grow significantly over the next two to four years. As of April 2022, soon after a move to new headquarters on Waterloo Quay, the headcount stood at nearly 30.