Three Australian startups that landed $32.3 million in funding this week
This week Australian startups raised over $32 million in VC funding despite the continued sparse economic landscape.
It’s Friday and here at SmartCompany that means it is time for another funding round-up. This week we have three Aussie startups that have banked some collective cash to the tune of $32.3 million.
Fivecast: $30 million
The Adelaide-based startup started the week strong with a $30 million raise in Series A.
The company was founded in 2017 and it uses AI and machine learning to scrape and analyse information publicly available online. The idea is for government agencies or companies to engage Fivecast to do this work — which includes social media and dark web monitoring — to find and filter the information.
That information can then be used to mitigate security risks or identify potential national security threats.
The round was led by Ten Eleven — a cybersecurity-focused VC that counts Malcolm Turnbull amongst its advisors.
Circle In: $2 million
Circle In just raised $2 million, with the round being led by Alberts Impact Ventures.
The employee support platform was launched in 2017 and assists employers in supporting working parents — at every stage of that journey — as well as remote workers and carers.
CO-architecture: $330,000
Perth-based startup CO-architecture has raised $330,000 in pre-seed funding. The round was led by Skalata and West Coast Angels.
CO-architecture is a community platform that connects design professionals with businesses that are hiring. Users are able to search for temporary as well as permanent roles in what the company calls a “widely decentralised industry.”
“Sole traders and SMEs represent 98% of the industry, yet a disproportionate amount of resources are shared exclusively between larger practices. Little has been done to help the ‘little guy’ strategically recruit talent or access the same pool of projects and contracts,” CO-architecture founder Kevin Mitchem said in a statement.
The company has also received additional investment from leading design firms and architects within Australia.
“As the world of architecture is so closely tied to construction, projects fluctuate drastically depending on the state of the market and economy, making traditional means of finding work
challenging.” Director of Hassell Peter Lee said in a statement.
