Lightyear, a leading force in accounts payable automation, announces it has invested £3m in 2023 after doubling its workforce across its global operations.
2023 has been Lightyear's most successful year to date, marked by record growth, ground-breaking innovation, and further focus on community engagement.
With a commitment to the development of its best-in-class technology, Lightyear doubled its global workforce from 30 employees to 60 across its offices in Belfast, Northern Ireland and Sydney, Australia. Moving into new Belfast offices in February of this year, the rapid growth comes as the result of a £3m investment into local talent, spanning various business units, including software development, sales and marketing, operations and customer support.
The recent investment and growth trajectory has garnered notable recognition. Lightyear was awarded Northern Ireland’s Fast-Growing Fintech business in the FT1000 Awards earlier this year. The success was followed by the company ranking in the top three fastest growing technology companies in Northern Ireland at the prestigious Deloitte Technology Fast 50 awards for the second year running.
And its new array of talent has proven successful with the company celebrating its biggest feature release so far. Smart Extract, an AI data extraction tool, which uses machine learning, has helped businesses boost efficiency by up to 80% since its release 2 months ago. Lightyear customers have welcomed the addition, calling it “a game-changer” in the world of finance automation. Offering faster processing and enhanced data quality, Smart Extract enables users to work much more efficiently and is set to continue in development, with phase 2 scheduled to be released early next year.
With a robust product roadmap for 2024, the team at Lightyear has set ambitious goals for the development of its progressive platform. Next year the business will launch its biggest and most impactful feature to date which will see the product expand into payments, facilitating both domestic and international bill paying from within the Lightyear app.
It’s an exciting time for the team which has been shaking up the AP software industry since its inception in 2018. Its recent product development has been recognised by leading software comparison provider, Gartner, which awarded the business multiple awards in 2023 for its quality of support, feature development, functionality and value for money.
And its expansion isn’t stopping there. Next year, Lightyear plans to increase its workforce to more than 100 globally. This year, the business was shortlisted for Best Place to Work in IT at the Belfast Telegraph awards, competing against long-established technology companies for the spot.
Beyond its business pursuits, Lightyear remains deeply committed to helping the local community. This year, the team engaged in numerous activities for Women's Aid, South Belfast Foodbank, and Cara Friend, and last month, ran in the Run In The Dark challenge for collaborative cures. Raising a total of over £800 for global charities and donating over 250 hours, Lightyear has community at the core of its ethos. With plans to work directly with not-for-profit organisations in 2024, Lightyear continues to develop relationships with the local community.
2023 has been a defining time for Lightyear. Our growth, recognition, commitment to innovation and community involvement have set a strong foundation for global success.
I am bursting with pride to be leading such a fantastic team. I’d like to offer a thank you and well done to everyone who has made this possible, including our team, customers and partners. Looking towards 2024 and beyond, our sights are set on continued growth in new markets and industry-leading product development.
As it looks toward the future, Lightyear is excited to announce its imminent expansion into the United States in early 2024. This strategic move marks a significant milestone in its growth journey as its third location in a key target market.
As Lightyear celebrates its momentous achievements in 2023, it remains focused on driving innovation, fostering its staff's development, cultivating community relations, and preparing for their entry into the United States.
