Aussie e-commerce company backed by James Packer raises $50 million
Wednesday, April 8, 2015/
Brisbane e-commerce startup Temando has raised $50 million in Series B funding in order to accelerate its expansion into US and UK markets.
The latest funding round was led by global mail solutions provider Neopost, bringing the total capital raised by the company to date to $56 million.
Temando allows people to book and track shipments online and has more than 50,000 registered users worldwide.
In 2012 James Packer’s investment fund Ellerston Capital invested $5 million in the business for an undisclosed amount.
Co-founder and chief executive of Temando, Carl Hartmann, told StartupSmart he hopes the raise will mean the software company becomes the “employer of choice” in Queensland.
“We intend to keep it that way as there’s lots of good talent and we like to keep it as much in the ecosystem here as we can,” he says.
“But as we do more projects in America and Europe we need more boots on the ground as they are essential to getting more projects – otherwise you tend to spend a lot of time on a plane.”
Hartmann says e-commerce is a space to watch now that consumers are demanding frictionless payment solutions and technology is allowing retailers to improve the shipping experience.
“Omni-channels are starting to explode in the US and particularly in Australia, I think, as more retailers are thinking pan-Australia given the New Zealand dollar is strong and e-commerce in Asia is growing,” he says.
“Europe is going through a similar flux to the US where you’re getting more retailers expanding through Europe.”
Hartmann says he is thrilled to have the backing of a major industry player and hopes the raise will put both the company – and by extension Australia – on the map.
“It’s a great thing as an Australian company to achieve this,” he says.
“I’m always proud when I have success and I’m quite humbled to be honest. It’s a test to the kind of business Australia produces. Australia produces some of the best tech businesses in the world… unfortunately not all of them get discovered but I’m certainly doing my best to fly the flag.”
This article first appeared on StartupSmart.
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