Tracxn - Geo Monthly Report - Australia And New Zealand Tech - Nov 2021

TRACXN MONTHLY REPORT
NOVEMBER 2021
AUSTRALIA & NEW ZEALAND TECH

Australia and New Zealand Tech - November 2021 Copyright © 2021, Tracxn Technologies Limited. All rights reserved.
Contents
2
Australia & New Zealand Tech Snapshot 3
Investment Snapshot 4
List of Funding Rounds 5
New Investors 8
Top Funded Business Models - last 1 year 10
New Analyst Picks 11
IPOs 14
Acquisitions 15
Recent News 17

Australia & New Zealand Tech Snapshot – November
2021
Australia & New Zealand Tech: Snapshot – November 2021
Note : "Investors" refers to "Institutional Investors" only
3
$888M
20 9
Overall Geo Stats
20
13
67
27
26
Funding Rounds $ Invested Analyst Picks
Practice Ignition
Upgraded to
SOONICORN
New Investors
Ridgeline
Steve Baxter
Series A+ rounds Active Investors IPOs
Tissue Repair
AHI
Acquisitions
Rosser
Modern Risk
Solutions
Top Funding Rounds Top Markets Top Investors Top Cities
Monthly Leader Board
Sydney
(8 Rounds, $208M)
Melbourne
(5 Rounds, $176M)
Brisbane
(3 Rounds, $27.5M)
Adelaide
(1 Rounds, $26.4M)
$350M - PE
simPRO (2002, Eight Mile Plains, $381M)
$100M - Series E
Airwallex (2015, Melbourne, $802M)
$92.1M - Series B
Harrison (2017, Sydney, $113M)
$63.5M - Series A
Mr Yum (2018, Melbourne, $100M)
Blackbird Ventures
(4 Investments)
Skip Capital
(3 Investments)
Horizons Ventures
(3 Investments)
Equity Venture Partners
(3 Investments)
Field Force Automation
simPRO
Payments
Airwallex
Remittance
Food Tech
Mr Yum
Market Size
Companies Covered 26,129
Funded Companies 3,504
Total Funding $18.4B
Funding in last 12 months $5.4B
Top Exits
IPOs 346
Acquisitions 796
Company Stage
Unicorns 6
Soonicorns 46
Minicorns 286
Editor Picks 1,769
Series A+ 656
Series C+ 120
Acqui-Hires 8
Deadpooled 2,007
Top Cities
Sydney (895 Rounds, $8.0B)
Melbourne (454 Rounds, $4.0B)
Top Investors
Artesian (115 Investments)
muru-D (60 Investments)

Investment Snapshot
Investment Snapshot of Australia & New Zealand Tech as of November 2021
Australia & New Zealand Tech: Investment Snapshot
4
# Rounds
$ Funding
Investment Trend Top Investments (November 2021)*
simPRO
(2002, Eight Mile Plains, $381M)
$350M - PE K1 Investment Management
Airwallex
(2015, Melbourne, $802M)
$100M - Series E Lone Pine Capital
Harrison
(2017, Sydney, $113M)
$92.1M - Series B Horizons Ventures
Mr Yum
(2018, Melbourne, $100M)
$63.5M - Series A Tiger Global Management
Practice Ignition
(2011, Sydney, $75.4M)
$50.0M - Series C JMI Management
Zoomo
(2017, Sydney, $58.0M)
$30.0M - Series B Grok Ventures
Fleet Space
(2018, Adelaide, $26.4M)
$26.4M - Series B Artesian
mod.io
(2018, South Melbourne, $31.0M)
$26.0M - Series A Tencent
Q-Ctrl
(2017, Pyrmont, $40.0M)
$25.0M - Series B Airbus Ventures
Konvoy kegs
(2019, Darlinghurst, $22.3M)
$22.3M - Series D
First AML
(2017, Auckland, $27.3M)
$21.5M - Series B Blackbird Ventures
*Shows only the lead Investors

List of Funding Rounds (1/3)
List of Funding Rounds in Australia & New Zealand Tech in November 2021
Australia & New Zealand Tech: List of Funding Rounds
Note: Seed Stage (Seed, Angel), Early Stage (Series A, Series B), Late Stage (Series C+), PE
5
LATE STAGE
$22.3M - Series D
Konvoy kegs (2019, Darlinghurst, $22.3M)
Provider of keg rental solution for the beverage
industry
LATE STAGE
$50.0M - Series C
Practice Ignition (2011, Sydney, $75.4M)
Cloud-based financial tools for accountants
JMI Management, Equity Venture Partners, Tiger
Global Management
LATE STAGE
$100.0M - Series E
Airwallex (2015, Melbourne, $802.0M)
Cross-border payment solution for businesses
Lone Pine Capital, 1835i, Sequoia
LATE STAGE
$350.0M - PE
simPRO (2002, Eight Mile Plains, $381.0M)
Cloud-based field service management software
solution
K1 Investment Management, Level Equity
EARLY STAGE
$4.0M - Series A
Midnight Health (2020, Brisbane, $4.0M)
Online platform offering remote consultation services
and online sale of healthcare products
nib
EARLY STAGE
$4.0M - Series A
Riparide (2016, Prahran, $4.0M)
Online campsite accommodation & local adventure
booking platform
Upswell Ventures, Macdoch Ventures
EARLY STAGE
$5.0M - Series A
Bardee (2019, Melbourne, $5.0M)
Provider of solutions to convert food waste into
protein and oil
Blackbird Ventures, Didier Elzinga, Simon Griffiths
EARLY STAGE
$5.5M - Series A
Preezie (2017, Melbourne, $6.1M)
Cloud based customer engagement platform for
eCommerce industry
Touch Ventures, Steve Baxter, TEN13
EARLY STAGE
$7.5M - Series A
Particular Audience (2017, Sydney, $11.4M)
Platform offering consumer intelligence solution
Equity Venture Partners, Carthona Capital

6
EARLY STAGE
$10.0M - Series A
FoodByUs (2015, Sydney, $11.5M)
Online marketplace offering farm products for
businesses
Macquarie Group, FJ Labs, Base Capital
EARLY STAGE
$18.0M - Series A
Avocado Guild (2021, Sydney, $18.0M)
Online community-based gaming platform
Animocabrands, QSN, Hashed, Binance DEX, Polygon
Studios, and 2 more
EARLY STAGE
$20.3M - Series A
Splash (2017, Brisbane, $20.3M)
Developer of AI-assisted music creation software and
game based on music
BITKRAFT Ventures, , King River, Khosla Ventures
EARLY STAGE
$21.5M - Series B
First AML (2017, Auckland, $27.3M)
KYC & AML solutions for multiple sectors
Blackbird Ventures, Headline, Icehouse Ventures,
Bedrock, Eliot Crowther
EARLY STAGE
$25.0M - Series B
Q-Ctrl (2017, Pyrmont, $40.0M)
Provider of cloud-based firmware to stabilise qubits
from quantum decoherence
Airbus Ventures, Data Collective, Square Peg, Sierra
Ventures, Main Sequence Ventures, and 4 more
EARLY STAGE
$26.0M - Series A
mod.io (2018, South Melbourne, $31.0M)
Game development tool for modifying any games
Tencent, Makers Fund, Our Innovation Fund, Play
Ventures, Surge, and 2 more
EARLY STAGE
$26.4M - Series B
Fleet Space (2018, Adelaide, $26.4M)
Provider of satellite-based IoT connectivity and
communication services
Artesian, Blackbird Ventures, Grok Ventures, Horizons
Ventures, SAVCF, and 3 more
EARLY STAGE
$30.0M - Series B
Zoomo (2017, Sydney, $58.0M)
Developer of electric bicycles
Grok Ventures, CEFC, Maniv Mobility, ArcTern
Ventures, Skip Capital, and 2 more
EARLY STAGE
$63.5M - Series A
Mr Yum (2018, Melbourne, $100.0M)
Platform offering QR-code based ordering solution for
businesses
Tiger Global Management, TEN13, VU Venture
Partners, Wildcard Ventures, Commerce Ventures, and
6 more

7
EARLY STAGE
$92.1M - Series B
Harrison (2017, Sydney, $112.8M)
Provider of artificial intelligence system for multiple
diagnostic analysis
Horizons Ventures, Blackbird Ventures, Sonic
Healthcare, I-MED Radiology, Skip Capital
EARLY STAGE
Series B
Basiq (2016, Sydney)
Open banking API
Visa
SEED STAGE
$450.0K - Seed
Tbh skincare (2019, Seaforth, $450.0K)
Internet first brand offering skincare products
SEED STAGE
$623.9K - Seed
GIS Gas Infusion Systems (2016, Saint Andrews,
$623.9K)
Developer of gas infusion systems for aquaculture
SEED STAGE
$1.4M - Seed
Your Food Collective (2017, Clovelly, $1.4M)
Online platform offering multi-category grocery
supplies
SEED STAGE
$1.6M - Seed
ClearCalcs (2016, Melbourne, $1.6M)
Cloud-based structural design and analysis software
Equity Venture Partners, Shearwater
SEED STAGE
$3.3M - Seed
HINDSITE (2017, Brisbane, $3.3M)
Provider of wearable and cloud-based visual
intelligence management platform
Greg Ruddock, Terry Hartan, Duncan Alexander, Matt
Kuppe
SEED STAGE
Seed
SIDUS HEROES (2021, Sydney)
Provider of blockchain and NFT-based role-playing
game
Follow The Seed

New Investors (1/2)
List of New Investors in Australia & New Zealand Tech in November 2021
Australia & New Zealand Tech: List of New Investors
8
Investor Company Info Round Amount Round Name
Ridgeline
6 portfolio companies | Venture capital fund focused on tech startups
Q-Ctrl
Provider of cloud-based firmware to stabilise qubits from quantum
decoherence
$25.00M Series B
Steve Baxter
1 portfolio companies | Steve Baxter | Entrepreneur, Investor and Shark - Shark
Tank Australia.
Preezie
Cloud based customer engagement platform for eCommerce industry
$5.50M Series A
Polygon Studios
4 portfolio companies | Polygon Studios
Avocado Guild
$18.00M Series A
Binance DEX
3 portfolio companies | Online exchange platform for cryptocurrency
Avocado Guild
$18.00M Series A
VU Venture Partners
5 portfolio companies | Multiple sector focused seed stage VC firm
Mr Yum
Platform offering QR-code based ordering solution for businesses
$63.53M Series A
K1 Investment Management
37 portfolio companies | Private equity firm focused on buyouts
simPRO
Cloud-based field service management software solution
$350M PE
JMI Management
115 portfolio companies | Private equity firm investing in software companies
Practice Ignition
$50.00M Series C
ArcTern Ventures
28 portfolio companies | Canada focused early-stage VC firm
Zoomo
$30.00M Series B
Three Arrows Capital
16 portfolio companies | Funds based investment management firm
Avocado Guild
$18.00M Series A
Alumni Ventures
7 portfolio companies | Venture capital fund focused on multiple sectors
Fleet Space
Provider of satellite-based IoT connectivity and communication services
$26.40M Series B

New Investors (2/2)
List of New Investors in Australia & New Zealand Tech in November 2021
Australia & New Zealand Tech: List of New Investors
9
Investor Company Info Round Amount Round Name
Hashed
43 portfolio companies | Venture capital fund focused on crypto-assets
Avocado Guild
$18.00M Series A
Visa
57 portfolio companies | Payment card network for businesses
Basiq
Open banking API
Undisclosed Series B
Airbus Ventures
53 portfolio companies | Early-stage tech-focused VC firm investing in
geographies such as the US, Europe and Asia
Q-Ctrl
Provider of cloud-based firmware to stabilise qubits from quantum
decoherence
$25.00M Series B
QSN
3 portfolio companies | QSN
Avocado Guild
$18.00M Series A
I-MED Radiology
1 portfolio companies | Chain of radiology centers
Harrison
Provider of artificial intelligence system for multiple diagnostic analysis
$92.09M Series B
nib
1 portfolio companies | Health insurance broker
Midnight Health
Online platform offering remote consultation services and online sale of
healthcare products
$4.00M Series A
Headline
23 portfolio companies | Venture capital firm investing in multiple sectors
First AML
KYC & AML solutions for multiple sectors
$21.49M Series B
LEGO Ventures
9 portfolio companies | Startup incubator & VC firm backed by LEGO Group
mod.io
Game development tool for modifying any games
$26.00M Series A
alexafund.com
13 portfolio companies |
Splash
Developer of AI-assisted music creation software and game based on
music
$20.29M Series A
Upswell Ventures
1 portfolio companies | Venture capital fund focused on seed and series A
investments
Riparide
Online campsite accommodation & local adventure booking platform
$4.00M Series A

Top Funded Business Models - last 1 year
* Rank is based on $Invested in last 1 year in the Business Model. ▲- Indicates change in Rank from previous 1
year.
10
Rank Business Model $ Funding # Rounds Top Funding Round
1 ▲2 B2B Remittance $400M 3 Airwallex | $200M | Series E
2 ▲2 International Business Payments $400M 3 Airwallex | $200M | Series E
3 ▲7 Graphic Design Tools $271M 2 Canva | $200M | Series F
4 -- Internet First Solar Energy Projects Financing $176M 2 Brighte | $100M | Series C
5 -- Continuous Deployment $173M 1 Octopus Deploy | $173M | Series D
6 ▲22 HRMS for SMBs $138M 2 Employment Hero | $103M | Series E
7 ▲33 Drugs for Multiple Cancer Types $105M 4 QBiotics | $64.4M | Series C
8 -- Employee Engagement Platforms $100M 1 Culture Amp | $100M | Series F
9 ▼-1 Hotel Reservation Management Software $100M 1 SiteMinder | $100M | Series D
10 ▼-1 Hotel Channel Management Software $100M 1 SiteMinder | $100M | Series D

New Analyst Picks (1/3)
Interesting Companies identified by Analysts in Australia & New Zealand Tech in November 2021
Australia & New Zealand Tech: Analyst Picks
11
Upgraded to SOONICORN
Practice Ignition (2011, Sydney, $2.0M, Seed)
Right Click Capital, Microequities, Equity Venture
Partners and 9 other Investors
simPRO (2002, Eight Mile Plains, $350M, PE)
Cloud-based field service management software
solution
Level Equity,K1 Investment Managementand
Zoomo (2017, Sydney, $30.0M, Series B)
Grok Ventures, CEFC, Contrarian Ventures and 10 other
Investors
Harrison (2017, Sydney, $20.0M, Series A)
Provider of artificial intelligence system for multiple
diagnostic analysis
Founders Fund, Blackbird Ventures, Horizons Ventures
and 5 other Investors
Mr Yum (2018, Melbourne, $11.0M, Seed)
Platform offering QR-code based ordering solution for
businesses
TEN13, Wildcard Ventures, AirTree Ventures and 11
other Investors
Upgraded to MINICORN
Particular Audience (2017, Sydney, $1.3M, Seed)
Platform offering consumer intelligence solution
Five V Capital,Carthona Capital,Equity Venture
Partnersand
FoodByUs (2015, Sydney, $1.5M, Seed)
Online marketplace offering farm products for
businesses
FJ Labs,Base Capital,Macquarie Groupand
Splash (2017, Brisbane, $20.3M, Series A)
Developer of AI-assisted music creation software and
game based on music
King River, Khosla Ventures, BITKRAFT Ventures and 1
other Investors
Avocado Guild (2021, Sydney, $18.0M, Series A)
Hashed, QSN, Three Arrows Capital and 4 other
Investors

12
Riparide (2016, Prahran, $4.0M, Series A)
Online campsite accommodation & local adventure
booking platform
Macdoch Ventures,Upswell Venturesand
Konvoy kegs (2019, Darlinghurst, $22.3M, Series D)
Provider of keg rental solution for the beverage
industry
Five V Capital,Wyborn Capital,Clearsign Capitaland
HINDSITE (2017, Brisbane, $3.3M, Seed)
Provider of wearable and cloud-based visual
intelligence management platform
Greg Ruddock, Terry Hartan, ACAC Innovation and 2
other Investors
Added to Editor's Pick
Haystack (2014, Brisbane, $1.1M, Angel)
Professional networking app for sharing business cards
Follow The Seedand
Looop (2013, Melbourne, Undisclosed, Seed)
Mobile based micro-learning
Exodus Ventures,Ascensionand
Xailient (2016, Sydney, $155K, Seed)
Provider of computer vision-powered facial recognition
solutions for edge devices
LVT Capital,Black Nova Group,Antlerand
Mooven (2018, Auckland, $5.0M, Seed)
AI & SaaS-driven traffic congestion management
solution for the transport industry
Five V Capital,and
A2X (2014, Pukekohe, Unfunded)
Accounting management solutions for e-commerce
businesses
NeatStreets (, Melbourne, Unfunded)
Provider of a citizen engagement platform
Campaignware (2013, Sydney, Unfunded)
Cloud based platform offering software to create
content
JUCY (2001, Auckland, Unfunded)
Online caravan rental platform
Polar Capitaland

13
HoneyBadger Technologies (2016, Sydney,
Unfunded)
Provider of in-room entertainment solutions for hotels
dream space (2021, Melbourne, Unfunded)
Online home renovation marketplace
Blue Field Capitaland
Helpling (2014, Sydney, Unfunded)
Online marketplace to book home cleaning services
Z-CARD (1992, Waterloo, Unfunded)
Provider of card based print advertising platform
UPPAREL (2016, Melbourne, Unfunded)
Internet first brand offering socks
JXL (2020, Chatswood, Unfunded)
Cloud based platform offering issue tracking software
VinTech (2019, Sydney, Unfunded)
Cloud based virtual events management solution
provider

IPO Date Company IPO Mcap Exchange Ticker
18 Nov 2021
Tissue Repair (2012, Sydney, )
Developer of wound healing products for chronic wounds
$0.1B ASX:TRP
19 Nov 2021
AHI (2014, South Perth, )
AI-based imaging system for monitoring body dimensions
$ NASDAQ:AHI
17 Nov 2021
Iris Energy (2018, Sydney, $31.1M)
Sustainable Bitcoin mining platform
$1.5B NASDAQ:IREN
01 Nov 2021
Judo Bank (2016, Melbourne, $1.2B)
Digital bank for businesses
$1.7B ASX:JDO
26 Nov 2021
Artrya (2018, Perth, )
AI-based cardiovascular health analysis tool for providers
$0.1B ASX:AYA
30 Nov 2021
Gelion Technologies (2015, Sydney, )
Manufacturer of zinc batteries
$ LON:GELN
01 Nov 2021
Step One (2016, Sydney, )
Internet first brand offering inner wears for men
$0.2B ASX:STP
17 Nov 2021
My Rewards International (1999, Melbourne, )
Platform offering loyalty management software to enterprises
$0.0B ASX:MRI
08 Nov 2021
SiteMinder (2006, Sydney, $205M)
Cloud-driven reservation management software for hotels
$1.0B ASX:SDR
IPOs
List of IPOs in Australia & New Zealand Tech in November 2021
Australia & New Zealand Tech: IPOs
14

Acquisitions (1/2)
List of Acquisitions in Australia & New Zealand Tech in November 2021
Australia & New Zealand Tech: Acquisitions
15
Acq. Date Company Acquirer Deal Size
01 Nov 2021
Rosser(1996, Hamilton)
Insurance underwriting and quoting solutions for the insurance
industry
360 Underwriting Solutions
01 Nov 2021
Modern Risk Solutions(2013, Melbourne)
Online comparison platform for P&C insurances
Honan Insurance Group
03 Nov 2021
Connected Media Australia(2017, Banksmeadow)
Distributor of AV and control products required for homes and
businesses
Amber Technology
04 Nov 2021
Eyeota(2010, Sydney, $19.5M)
Audience targeting data
Dun & Bradstreet
08 Nov 2021
Advanced Management Systems(1979, Auckland)
Provider of workforce planning and software suite for insurance
agency
Volaris Group
09 Nov 2021
Complispace(2009, Sydney)
GRC platform for various industry verticals
Ideagen $78.0M
12 Nov 2021
Rig Technologies(2021, Perth)
Cloud-based data provider platform for the mining industry
Orica
22 Nov 2021
Team App(2013, Templestowe Lower)
Team management app
Stack Sports
23 Nov 2021
AroFlo(2001, Ringwood North)
Cloud-based job management system for facility service operators
simPRO
23 Nov 2021
CSX(2013, Auckland)
Provider of concussion management solutions for athletes
hitq.com

Acquisitions (2/2)
List of Acquisitions in Australia & New Zealand Tech in November 2021
Australia & New Zealand Tech: Acquisitions
16
Acq. Date Company Acquirer Deal Size
25 Nov 2021
Akaroa Salmon(1984, Wigram)
Online platform offering seafood ordering and doorstep delivery
services
29 Nov 2021
Opmantek(2010, Gold Coast)
Opensource network management and IT audit software
FirstWave Cloud Technology $62.0M
30 Nov 2021
Zuitte(2018, Varsity Lakes)
Marketing and business solution
Mydev

Recent News (1/2)
Recent News in Australia & New Zealand Tech in November 2021
Australia & New Zealand Tech:News
17
Exit News
.
● Carlyle's tech fund buys majority stake in CSS Unquote
.
● Opentext To Acquire Zix In $860 Million Deal Meant To Bolster Microsoft
RelationshipBetaKit
.
● Zip completes acquisition of Twisto Finextra
.
● Ideagen Eyes Growth with Biggest Acquisition to Date Insider Media
.
● Dun & Bradstreet to Acquire Eyeota and NetWise destinationcrm.com
.
● Sinch completes the acquisition of MessengerPeople GlobeNewswire
.
● Iris Energy Plans to Go for $100M US IPO on Nasdaq, Taps JPMorgan and Citi
Coinspeaker
.
● Completes maiden sale of Felix FinTechInShorts
.
People News
.
● Leader in Brand Licensing Solutions Strengthens Executive Team to Conquer
New Trillion Dollar IndustryPR Newswire
Company News
.
● Pharmaxis Receives Approval For Phase 2 Study Of Its Cancer Drug In Liver
Cancer Proactive

Explore more on Tracxn
Explore more about Australia & New Zealand Tech on Tracxn Platform
Australia & New Zealand Tech: Explore more on Tracxn Platform
18
Companies
Recent Companies Covered
Funded Companies
Editor's Pick
Soonicorn Club
SaaS Companies in Australia and New Zealand
AI Companies in Australia and New Zealand
Fintech Companies Australia and New Zealand
Consumer Digital in Australia and New Zealand
Company Due Diligence
Detailed profile of Airwallex
Competitors of Rocket Lab
Cap Tables of Go1
Investment Activity
Recent Investments
Investment Trend of last 10 years
Mega Investments Rounds
Investors
Most Active Investors
Most Active Angel Investors
Unicorn Investors
Exits
IPO'd Companies
Recent Acquisitions
Most Active Acquirers
Recent Acquihires
News & Events
Recent News
News on People
News on Unicorns
Upcoming Events
Library
Recent Reports
Tracxn Blog
Global Sector Landscape

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Tracxn - Geo Monthly Report - Australia And New Zealand Tech - Nov 2021

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Tracxn - Geo Monthly Report - Australia And New Zealand Tech - Nov 2021