The Venture Codex

Participated · Equity · Sep 2013

CriticalArc is a safety software startup that provides cloud- and mobile-based tools to help organisations proactively manage security, safety and emergencies. Its platform is reported to be in use by over 70 organisations across the Asia-Pacific, the UK, Europe and the Middle East. The company completed an equity crowdfunding campaign through VentureCrowd, raising capital from external investors. The round brought in nearly $1 million from 11 investors in exchange for an 8.3% stake. The article highlights the campaign as another validation of equity crowdfunding in Australia, according to VentureCrowd founder Jeremy Colless. No additional operational or revenue metrics were disclosed in the article. CriticalArc has developed SafeZone, a security and communication app that enables users to call for help and report incidents in open spaces such as university campuses. The company was co-founded by Jahmai Lay and Glenn Farrant and was incubated by the University of Wollongong’s StartPad. Customers include Curtin University, the University of Wollongong and the University of Newcastle (Australia). According to reports, CriticalArc raised $1M in funding to support growth. The company intends to use the funds to expand adoption of SafeZone in the UK and US. The raise was backed by Commercialisation Australia and private investors including Hunter Angels Trust and Sydney Angels.

Led · Grant · May 2013

Tapestry builds an Android tablet app designed to simplify the social web for less tech‑savvy seniors and connect them with family members. The product uses two account types — “sharing” for tech‑savvy family and “simplicity” for seniors who primarily consume content. The company previously offered optional rebadged Toshiba tablet hardware but has shifted focus to software and services. Recent funding will be used to extend the app to iOS and Android smartphones, add community features, and support a planned U.S. launch. Planned community features include retirement and other group‑based packages. The startup has engaged investors and government programs to support expansion and product development. Tapestry offers an Android app, web service, and a rebadged Toshiba tablet that together simplify online family sharing for less tech‑savvy seniors. The service uses two account types: free “sharing” accounts for family members and paid “simplicity” accounts tailored for seniors. Simplicity accounts start from $5 per month and are the company’s primary monetization path. Sharing to simplicity accounts is possible via Facebook integration, emailed photo attachments (which Tapestry extracts), or direct uploads on the website. The company sells its tablet but also supports bring‑your‑own‑device. Tapestry says it will use new funding to validate the product in its local Australian market before expanding internationally. The company recently raised a $600K seed round to support these plans.

Led · Equity · Dec 2011

Bubble Gum Interactive is a Sydney-based games studio. The company was profiled by StartupSmart the month prior to this announcement. It received funding through the Australian government’s Commercialisation Australia program. The program is intended to help Australian inventors move inventions into the marketplace, according to Innovation Minister Kim Carr. Bubble Gum Interactive was one of 23 companies selected in the latest round. The studio received $225,288 in funding as part of that allocation. Bubble Gum Interactive develops online games and virtual experiences for children and families, including the original virtual universe "Little Space Heroes." The company is finalizing development of Little Space Heroes and plans a worldwide launch in late 2011. It received a $200K investment to support completion of the product. The studio is led by MD and CFO Leigh Harrison and Executive Producer and Technology Director Phil Mason. Founded by industry veterans, the team has experience across game development, children's entertainment, business planning, production, research and design, licensing, marketing, sales and community management.

Led · Grant · Aug 2011

BuildingIQ offers a cloud-based Predictive Energy Optimization (PEO) platform that actively predicts and manages HVAC loads to lower energy consumption and costs, with reported HVAC energy cost reductions of up to 25 percent. Its solution includes measurement and verification (M&V) capabilities and an M&V module approved to generate Energy Savings Certificates under New South Wales’ Energy Savings Scheme. In Q1 2015 the company deployed just under 3 million square feet into the PEO platform and improved square footage under contract by 25 percent quarter-over-quarter and 110 percent year-over-year. Financially, BuildingIQ reported revenue growth of more than 185 percent year-over-year and an 80 percent increase over Q4 2014, a 155 percent increase in backlog year-over-year, and 30 percent bookings growth year-over-year; it also delivered more than $1 million in free cash flow to clients in Q1 2015 from verified energy savings. BuildingIQ has engaged with the U.S. Department of Energy and is offering low-risk pilots assisted by Lawrence Berkeley National Laboratory to expand deployments without sacrificing occupant comfort. The company is backed by industry investors and research partners and has received multiple industry awards and recognition for its technology. BuildingIQ develops a cloud-based SaaS platform called Predictive Energy Optimization that uses big data analytics, building science, and business intelligence algorithms to automate and optimize HVAC operations. The software aims to reduce peak and ongoing energy costs, claiming energy savings and peak load reductions of up to 30% with paybacks often under 12 months and rapid deployments. The company runs large-scale implementations and pilot programs with commercial enterprises, REITs, institutional owners, property management firms, and utilities across North America and Australia. BuildingIQ has strategic partnerships with building management system vendors including Schneider Electric and Johnson Controls and an energy optimization and demand response program with Nevada Energy. Founded in 2009 and headquartered in San Francisco, the company plans to scale up its U.S. sales and marketing team to capitalize on its pipeline and partner channels. BuildingIQ recently closed $9 million in venture funding to accelerate growth and execute energy-efficiency projects. BuildingIQ develops SaaS-based energy management software that uses patent-pending PEAC Energy Optimization technology to proactively manage HVAC settings and deliver verifiable savings. Its software automates demand response events and has achieved up to 40% HVAC savings and 30% peak load reductions without requiring capital-intensive upgrades. The company commercialized 15+ years of building control systems, modeling and comfort research from CSIRO’s Energy Division to serve facility owners, managers and occupants. Founded in 2009 and based in Sydney, BuildingIQ positions its offerings to scale across portfolios, partners and geographies. It was awarded a $1.2 million grant from Commercialisation Australia to further develop and deliver its optimization technology. Leadership says the funding will support international expansion and broader product offerings to connect buildings to the grid. The company has been recognized with multiple industry awards for innovation.