This year is shaping up to be big year for local startups, if the investment deals secured so far are anything to go by.
After Atlassian’s $577.8 million acquisition of Trello, Australian startup founders and one expat have celebrated securing more than $50 million in investment deals to go bigger and higher this year.
Here’s a round-up of some of the biggest deals.
1. Deputy from Sydney banks $33 million
The elevator pitch: “Software for easy employee scheduling, time and attendance and communication.”
Led by: Ashik Ahmed and Steve Shelley.
How much: $US25 million ($33 million) in Series A funding.
From who: Boston venture capital firm OpenView.
Why? To speed up expansion across the United States, United Kingdom and Philippines.
Shelley told StartupSmart Deputy, which turns over north of $10 million and serves over 28,000 clients, has outgrown its bootstrapping days.
“I decided that for us to allow the business to grow and meet the global demands, [we] really needed to invest a lot more into our marketing, sales and talent,” Shelley said.
2. GreenSync from Melbourne banks $11.5 million
The elevator pitch: “A technology company that is part of a new generation of energy innovators using smart software control to optimise the use of energy resources in electricity grids.”
Led by: Dr Phil Blythe.
How much: $11.5 million in Series B funding.
From who: The round was led by Clean Energy Finance Corporation (part of the Australian government’s Clean Energy Innovation Fund) and Southern Cross Venture Partners’ renewable energy fund.
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Why? To develop the company’s suite of energy-tech products and expand overseas.
“The decision to raise a serious amount of capital is about how we build the technology that allows us to scale globally and move globally,” Blythe tells StartupSmart.
3. Local Measure from Sydney banks $4.5 million
Elevator pitch: “Location based social media monitoring and customer experience management. Discover public content from social networks posted at your business.”
Led by: Jonathan Barouch.
How much: $4.5 million.
From who: Mix of private investors, funds and private equity firms from the Asia Pacific region.
Why? Local Measure is opening a sales and account management office in Dubai this month and will be setting up a new office in Los Angeles.
It already has offices in Sydney, Singapore, London and Miami.
“Our technology leverages the growth of social media to provide a new and powerful tool for hoteliers and tourism asset managers,” Barouch said in a statement.
4. Postr from New Zealand banks $3 million
Elevator pitch: “Postr puts brands on their audience’s lock screen and pays people to use their phone.”
Led by: Milan Reinartz.
How much: $3 million.
From who: The round was led by private investors from Singapore and supported by existing backers.
Why? To go global.
“New Zealand is a fantastic testing ground, but from a commercial perspective just too small a market to stay put. Our intention has always been to eventually grow globally,” said Reinartz in a statement.
5. Aussie expat Process Street banks $1.3 million
Elevator pitch: “Process Street is the home for your teams’ recurring tasks. Create, track and optimise business process work-flows.”
Led by: Sydney expat Vinay Patankar (now based in San Francisco).
How much: $1.3 million seed funding.
From who: Round led by Blackbird Ventures and AirTree Ventures.
Why? To further product development and invest in sales and marketing.
“We create a collaborative checklist and workflow app used by over 49,000 businesses to help teams manage their processes and automate workflows,” Patankar said in a statement.
“We’re taking on companies like Atlassian and Microsoft who create bulky and unintuitive workflow software – Trello excluded.”