Trans-Tasman SaaS developer Unleashed Software has today announced it has secured $4.5 million in new capital.
The company, which was established in New Zealand in 2008 and now has executive offices in New Zealand and Australia, with a recently-opened formal office in the United States, says it is the most significant capital raising to date.
Among the backers is existing investor Craig Winkler, founder of MYOB and a prominent industry figure.
In addition to building out its product strategy and development team, the capital will also strengthen Unleashed’s trans-Tasman operations, particularly in sales and marketing, and allow it to invest further in its expansion in the United States, the company says in a statement.
“With the continued support of our stakeholders, we have spent the last 12 months rounding out our executive leadership team, improving our software to ensure customers have the features and functionality they need, and delivering a great support experience,” says Gareth Berry, chief executive officer, Unleashed Software.
Berry says the additional funds serve as a platform for growth for the 2016 fiscal year. “Now it’s all about executing on our product roadmap, as well as our marketing, channel and influencer programmes and campaigns,” he says. “This will help us win further market share in Australia and New Zealand, and extend our reach to the United States and soon, the United Kingdom.”
This round of capital raising follows a successful six months for Unleashed during which the company employed its first US staff, and appointed a new chief technology officer, Lisa Miles-Heal and chief marketing officer, Anthony Mordech. The company also launched its integration with Intuit’s QuickBooks Online business and financial management software.
The company was also recently named finalist for the NZ Hi-Tech Emerging Company of the Year Award and Manufacturer’s Monthly Endeavour Award in the application category.