Aussie-founded startup Skedulo bags $100 million, after seeing a 400% uptick in revenue

Skedulo co-founder and chief executive Matt Fairhurst. Source: Supplied.

Brisbane-founded startup Skedulo has secured a whopping US$75 million ($100.2 million) in Series C funding, after seeing its annual revenues increase by 400%.

The raise was led by the Softbank Vision Fund 2, and comes as appointments booked through the platform top the 35 million mark.

Over the past three years, Skedulo has seen annual recurring revenue increase by some 400%, as it increases its global reach.

Pushing “the limits of innovation”

Founded in 2013 by Matt Fairhurst and James Davies, Skedulo was designed to help organisations keep track of and manage a moving, off-site workforce. It also provides workers with an app to help them know where they’re supposed to be heading, and when, and allows them to submit paperwork digitally.

Throughout the global COVID-19 pandemic, the tool was used to create a scheduling solution for testing for the virus, and Skedulo partnered with several governments to help coordinate the vaccine rollout.

“Throughout 2020, Skedulo helped frontline and deskless workers do their jobs more efficiently and effectively so they could focus on their roles,” Fairhurst said in a statement.

“This year proved the significant need for deskless scheduling and productivity technology worldwide,” he added.

“We will leverage the latest funding to continue to push the limits of innovation.”

Priya Saiprasad, partner at SoftBank Investment Advisers, noted that the global pandemic “dramatically accelerated the adoption of digital services for workers”.

Skedulo’s software was able to help businesses improve productivity at a time they needed it most, she added, saying Softbank is here to “support their ambition of becoming the new standard for deskless workforce productivity”.

Aussie at the core

This latest funding round follows a $39 million Series B round, closed back in March 2019.

At that time, Fairhurst told SmartCompany that while the business may have relocated to the US, he’s still “extremely passionate” about its Aussie heritage.

Investment in Australian technology is “critically important” to the future of the economy, he added, which he would like to see moving away from industries like mining, banking and real estate and focusing on innovation and education.

“Companies like mine have a tremendous responsibility to figure out their part to play in that,” he added.

“Returning value to Australia as much as we can is exceptionally important.”

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