Participated · Equity · Apr 2024

Guzman y Gomez (GYG) is a Sydney-headquartered Mexican quick-service restaurant chain co-founded by Steven Marks in 2006. The group operates 183 restaurants in Australia and 26 across Singapore, Japan and the US, and is targeting the Chicago area where it has four stores. GYG reported global sales of $471 million in the December half (up 31% year‑on‑year), FY23 network sales of $759 million, and underlying FY23 EBITDA of $32 million (up 56%). The company plans to open 30–40 new restaurants per year long term and has ambitions to add 800 more stores in Australia. GYG says the fresh capital will be used to expand both in Australia and offshore, and it continues to review the possibility of an IPO within the next 12 months. Investors and management cite the founder-led culture, superior unit economics and systems to deliver at scale as reasons for support.

Led · Series C · Feb 2022

League provides a platform-as-a-service called Health OS that enables providers, payers, consumer-health partners and employers to build personalized, high-engagement healthcare experiences. The platform is built on the FHIR standard and leverages Google Cloud Platform’s Healthcare API to integrate EHRs, claims, health and wellness devices, and third-party partners. Hundreds of customers, including Humana, Shopify and Shoppers Drug Mart, use League’s technology, and millions of people access solutions powered by the platform. League plans to use new financing to scale Health OS as the digital infrastructure for an integrated health ecosystem and to accelerate interoperability and time-to-market for partners. The company has raised over $205 million to date. League was founded in 2014 and operates from Toronto and Chicago. League is a Toronto-based cloud-based digital employee health benefits platform that connects businesses and their employees with health insurance, flexible spending accounts, health content, curated health journeys and on-demand live health support. Founded in November 2014 by Mike Serbinis (founder and CEO) and Brian Ancell (U.S. president), the company launched in the U.S. market in 2017 and is licensed to operate in all 50 states. In 2018 League raised C$62M in funding led by Telus Ventures with participation from Wittington Ventures and existing backers OMERS, Infinite Potential Group, RBC Ventures, Real Ventures and BDC Ventures. The company intends to use the proceeds to scale internationally, opening new offices in San Francisco, New York and London to bring its platform to employers globally. It also plans to continue investing in its member experience. League intends to begin operations in the UK and EU in 2019. LEAGUE offers a mobile-first benefits platform that lets employees customize health coverage via a LEAGUE wallet usable inside and outside employers' preferred provider networks. The platform streamlines enrollment, reducing paperwork and HR burden, and employers pay a monthly fee on top of their health plan for access to LEAGUE's services. Users can opt into services ranging from regular check-ups to preventative care and wellness benefits, and new plan options can be added at any time. Since 2014 the company has onboarded just under 500 companies, and employers can already sign up in Toronto, Seattle, Los Angeles and Vancouver. Service offerings are expected to grow across the United States over the next 24–36 months due to heterogeneity in state healthcare procedures. LEAGUE emphasizes preventative care and positions itself between consumer health insurers like Oscar and large enterprise solutions such as Collective Health. League is a digital health and wellness platform that helps members discover, schedule, and pay for health services and assemble a 'league' of health professionals who coordinate personalized programs. The platform stores health information, including data from wearables and health applications, and lets members control and share that data with their league. Health professionals can use the service to connect with clients and deliver personalized care. League is creating a data-rich mobile platform with an initial focus on preventative health. It is accepting applications from health professionals and individuals for a beta program and plans to launch in early 2015. The company is led by CEO and founder Michael Serbinis and is based in Toronto, Ontario, Canada.

Led · Series C · Dec 2021

Pet Circle is a 10-year-old e-commerce retailer serving the $15 billion pet supplies market in Australia. It sells pet food and supplies and has built a subscription pet care platform that includes VetChat and Telehealth services. The company says it has seen significant growth in the past 18 months, including a 50% increase in puppy and kitten food sales across its specialty channel. The business is valued at more than $1 billion following the latest round. Planned use of proceeds includes improved software for its retail platform, an expanded warehouse footprint, a dedicated fleet, and a broader product range. Co-founder and CEO Michael Frizell said the company aims to build an integrated platform connecting customers to 24/7 vet advice and a large range of products and services. Pet Circle is a Sidney, Australia-based e-commerce provider of pet food, accessories and supplies that home-delivers to pet parents. The company offers more than 6,000 products across premier local and global brands on its website. Launched six years ago, it is led by CEO Mike Frizell and serves owners of dogs, cats, birds, fish and small animals. Pet Circle received a growth equity investment of undisclosed amount to support expansion. The company intends to use the funds to expand operations and broaden its business reach. A commentator from Pups & Paws compared this expansion strategy to the approach Chewy.com used in the U.S.

Led · Series F · Jul 2021

Culture Amp, founded in 2009 and launched in Australia, began as anonymous employee-survey software and has expanded into analytics, benchmarking, manager tools and training. Its product suite includes anonymous surveys, an “Inspiration Engine” of proven practices, behaviorally informed Skills Coach delivered via Slack/email, and analytics such as turnover prediction and team goal tracking. The platform is used by more than 4,000 organizations representing about 25 million employees, with clients ranging from roughly 20 people to over 150,000 and including Salesforce, Unilever and PwC. About two-thirds of its revenue comes from the United States, and the company is growing in Europe. Management says the new funding will be used to scale operations, add dual data centers and maintain a war chest for acquisitions. Culture Amp emphasizes its team of “People Scientists” (organizational and behavioral psychologists), runs workshops and events, and has expanded offerings to address COVID-era well-being and DEI needs. Culture Amp builds subscription survey software that lets customers run anonymized employee surveys and visualize analytics using templates and question banks. The product is used for quarterly engagement surveys and also powers performance reviews, goal-setting and self-reflection. The company emphasizes bringing anonymous feedback to the team level so employees can give more direct feedback to managers and uses its aggregated data to help customers learn from each other. Culture Amp says its networked data can predict outcomes like employee turnover and help customers act on survey insights. The company reports about 2,500 customers, roughly 3 million surveys conducted, and a 400-person workforce; customers include McDonald’s, Salesforce, Slack and Airbnb. The Series E funding is intended to extend its base of customers further. Culture Amp provides an organizational development platform to collect, understand and act on employee feedback. The product is designed to enable CEOs, executive teams, managers and every person in a company to make better decisions and drive successful change and performance. The company works with over 1,500 companies. It is headquartered in Melbourne, Victoria, Australia. Culture Amp plans to use new funding to continue growing its global team and to invest further in its Collective Intelligence framework. The company recently completed a $40M financing round, strengthening its position to expand product and team investment. Culture Amp provides an employee feedback platform built by a team of organizational psychologists and data scientists that automatically surfaces insights and recommended actions. The company is led by CEO Didier Elzinga. It serves over 1,000 customers, including Airbnb, Slack, Adobe, Estée Lauder, Warby Parker and Lyft. Culture Amp plans to use new funds to grow its team across four major offices in Melbourne, San Francisco, New York and London. The company also intends to continue investing in developing the field of people analytics. No revenue or other financial metrics were disclosed in the article. Culture Amp is a people analytics platform providing data-driven insights on employee engagement and company culture. The platform helps companies engage, onboard and manage employee exit processes using analytics. It serves clients including Greenhouse, Slack, Namely, Airbnb, Etsy, Eventbrite, Pinterest and Warby Parker. Founded in 2011, Culture Amp has offices in Melbourne, San Francisco, New York and London. The company recently closed a $10M Series B round. It plans to use the funds to advance analytics features on the platform and to finance expansion into the U.K. and Europe, with a London office opening this month.

Led · Series D · Oct 2020

Rokt offers AI- and ML-powered products including its Rokt Brain and the ecommerce Rokt Network. Those systems are said to power more than 6.5 billion transactions and connect 400 million customers across major companies such as Live Nation, Macy’s, AMC Theatres, PayPal and Uber. mParticle by Rokt provides real-time data activation to unlock value across ecommerce, advertising and customer engagement. The company plans to use the newly raised funds to expand operations and accelerate development efforts. Led by CEO Bruce Buchanan, Rokt operates from offices in 10 global locations and serves clients throughout North America, Europe and Asia-Pacific. The article describes Rokt as a global leader in ecommerce. Rokt provides eCommerce marketing technology that uses AI and machine learning to help companies capture value at the moment of transaction. Its platform delivers highly relevant messages to customers at the moment they are most likely to convert. More than 2,500 global businesses and advertisers — including Live Nation, Groupon, Staples, Lands' End, Fanatics, GoDaddy, Vistaprint, and HelloFresh — use Rokt's solutions. Founded in Australia, the company operates in 19 countries across North America, Europe, and the Asia‑Pacific region, with its largest office now in New York City. In December 2021 Rokt closed a $325M Series E that valued the company at $1.95 billion. The company said it will use the funding to invest in R&D, support international expansion, and pursue strategic acquisitions. Rokt provides proprietary e-commerce technology that powers the Transaction Moment for customers of companies like Expedia, Live Nation, Groupon, Staples, Lands’ End, Fanatics, GoDaddy, Vistaprint, and HelloFresh. Through its platform it enables clients to increase brand engagement and unlock new revenue while delivering individualized customer experiences. The company said it will use the capital to accelerate research and development and to expand its client base into new verticals and geographies. Rokt cited heightened demand driven by COVID-19 as companies accelerate digital transformation and seek alternative revenue and acquisition channels. In 2020 Rokt’s valuation increased 42% to more than US$450M, and it closed a US$48M Series C less than a year earlier. The company has recently strengthened its leadership team with multiple executive hires and won MarTech Breakthrough’s Best Use of AI in MarTech award. Founded in Sydney, Rokt now operates across the US, Canada, multiple European markets, Australia, New Zealand, Singapore, and Japan. Rokt provides an e-commerce marketing technology platform that leverages technology, machine learning and AI to surface the potential in every transaction moment, enabling clients to iterate and learn fast. Led by CEO Bruce Buchanan, the platform is designed to deliver more relevant customer experiences at the point of purchase. The company operates across the US, Canada, UK, France, Germany, Australia, New Zealand, Singapore, the Netherlands, Spain and Japan and employs more than 220 people. Clients include Live Nation, Staples, Groupon, GoDaddy, Expedia, Wells Fargo, Vistaprint and HelloFresh. Rokt intends to use the newly raised funds to accelerate research and development. In conjunction with the funding, TDM partner Tom Cowan joined the company’s board. Rokt provides a platform that enables e-commerce companies to improve customer engagements and deliver meaningful native monetization. Its platform is used by brands such as eBay, Ticketmaster, Live Nation, Gumtree, AXS, Dominos and Kogan, as well as thousands of performance marketers acquiring large numbers of new customers at the point of transaction. Led by chairman and CEO Bruce Buchanan, Rokt operates offices in New York, Los Angeles, London, Sydney, Melbourne, Auckland and Singapore. It closed a US$26M Series B, consisting of US$15M announced in February 2017 and a further US$11M from existing investors. The company is using the funds to facilitate its acquisition of CalReply, a provider of calendar marketing solutions, and to accelerate its global growth.