Australia-based AD1 Holdings (AD1:AU), previously known as ApplyDirect today announced that it has signed a contract with the Australian Department of Defence, to pilot a department-wide mentoring program delivered by its subsidiary Art of Mentoring (AoM).

The contract is valued at in excess of AUD 130,000 (USD 94,589) for the twelve months. It is also in addition to two other contracts Art of Mentoring has with Department of Defence.

AD1 Holdings acquired Art of Mentoring, a SaaS (software-as-a-service) business in September 2020.

AD1 CEO, Brendan Kavenagh, said, “This contract further solidifies Art of Mentoring’s outstanding growth performance over the last twelve months, and firmly positions AoM as the preferred provider to federal, state and local government for mentoring software and services.” “

“AoM has signed 21 new clients in the last 12 months, 7 of them since just the start of the new financial year. With this kind of growth acceleration, we are expecting an exciting future for this company acquired just a year ago.”

AD1 provided a trading update last month which showed that cash receipts for FY 2021 were AUD 5.06 million (USD 3.68 million), an increase of 39% compared to the prior year.