XRef has announced an integration agreement with PageUp, an Australian talent management platform.

This means that PageUp users can use XRef through their dashboard and reference checking through their marketplace. Initially, 50 mutual clients will have access to these features but it appears PageUp has operations in a lot of other countries so there is undoubtedly some cross sell potential.

Trouble is, there was little detail in the announcement, either in terms of expected financials or the size and scope of PageUp's operations. 

Nevertheless, the market obviously liked it, with shares shooting 15% higher after the ASX release.

Read the full announcement here

There's a lot to like about Xref.

Its topline is growing fast and it has secured some high-profile customers. The business has a large addressable market and there's a big structural shift away from traditional recruitment processes.

It's also nice that it receives cash from customers upfront, and that both credit sales and credit usage are trending strongly.

You can get a great overview from the company's latest interactive presentation, here.

Nevertheless, this is a loss making operation and it seems like the company may well need to raise cash again soon. Xref has $8m in the bank and last year was burning through $5m in operating cash.

Need to dig (a lot) deeper, but i think it could be one to watch.