The company said that the recovery of the mortgage lending industry, illustrated by six consecutive months of increased mortgage lending, helped drive sales.
Phoebus said that the growth in revenue had helped increase headcount by 13% over the course of 2011.
Paul Hunt, managing director of Phoebus Software, said: “2011 has been an encouraging year for the whole mortgage industry. Banks and building societies have strengthened their balance sheets, improved their capital ratios high levels and core liquidity while lending more.
“The increases in gross lending that we’ve seen over the last six months are symptomatic of the returning confidence of lenders. Phoebus has benefited as that confidence has echoed around the industry.
“While lenders like GE Money Home Lending have invested in their systems as they endeavour to streamline their operations, outsourcers like Oakwood have bought us in to develop a new origination system for instance.
“To grow capacity and take advantage of strengthening market conditions we’ve appointed a new director of sales, Richard Pike, and invested in new talent growing our workforce by 13%.”
