Well, well, Wells
Capital Brief's roundup: superannuation policy plans, a NSW data centre planning dispute, KPMG resisting a break-up, Stripe and Canva leaders on AI, Stripe's local Treasury push, and Culture Amp's data policy change.
Startup · $310m raised
Melbourne, VIC
Every investor coverage indicates participated in a round CultureAmp raised.
| Investor | Rounds | Invested |
|---|---|---|
| Blackbird Ventures | Series D+ · Series D+ · Series D+ | - |
| Felicis | Series D+ · Series D+ | - |
| Global Founders Capital | Series D+ · Series D+ | - |
| Grok Capital | Series D+ | - |
| Grok Ventures | Series D+ · Series D+ · Series D+ | - |
| Hostplus | Series D+ | - |
| Index Ventures | Series D+ · Series D+ | - |
| Mike Cannon-Brookes | Series D+ | - |
| Salesforce Ventures | Series D+ | - |
| Sapphire Ventures | Series D+ · Series D+ | - |
| Scott Farquhar | Series D+ | - |
| Sequoia | Series D+ | - |
| Sequoia Capital China | Series D+ · Series D+ | - |
| Skip Capital | Series D+ · Series D+ · Series D+ | - |
| TDM Growth Partners | Series D+ · Series D+ | - |
Every published round CultureAmp took part in, and every parcel of existing shares it bought off another holder. Deals we hold but haven't published yet are not counted.
Companies CultureAmp has backed in a published round, and companies whose existing shares it bought off another holder.
| Company | What it does | First invested | Rounds | Led |
|---|---|---|---|---|
| No portfolio companies recorded yet. | ||||
Fund closes reported for CultureAmp, as distinct from the investments it has made.
Companies CultureAmp has backed that another company then bought. An exit for the holding, not a deal CultureAmp did.
| Company | Bought by | Kind | Announced | Price |
|---|---|---|---|---|
| No portfolio company of CultureAmp is recorded as having been acquired. | ||||
Companies CultureAmp acquired or merged with, per published coverage. Buying a company is not investing in one: nothing here counts in the deals column.
| Company | Kind | Announced | Price | Sources |
|---|---|---|---|---|
| Zugata | Acquisition | 2019 | - | SmartCompany, Startup Daily |
| Disco | Acquisition | 8 Oct 2021 | - | Startup Daily (Fri 22 Mar 2024), Startup Daily (Fri 8 Oct 2021) |
Stories naming CultureAmp. Where several outlets covered the same round, they are bundled under whichever ran the fullest account.
Capital Brief's roundup: superannuation policy plans, a NSW data centre planning dispute, KPMG resisting a break-up, Stripe and Canva leaders on AI, Stripe's local Treasury push, and Culture Amp's data policy change.
Weekly roundup flags Acorn's purchase of learning firm B Online Learning for an undisclosed sum, plus $487m across ten raises, Airwallex product launches, Blackbird's biggest-ever investment, and layoffs at Culture Amp and Immutable.
Airwallex has appointed Elana Rubin AM to chair its Australian board and former New Zealand prime minister Sir Bill English as a director there, with both roles starting immediately; their other board roles are listed.
Rampersand's December newsletter leads with its $2m pre-seed investment in Cor, maker of the Obi AI avatar coach, plus trend retrospectives, tech news, portfolio updates, community events and a job ad.
Leaked details from Blackbird's investor day showcase Airwallex and Canva as standout performers, record valuation cuts for Culture Amp and SafetyCulture, and detail Kiki's New York shutdown and settlement.
Startmate reflects on a decade of backing founders, profiling breakout alumni across its cohorts and describing how its mentors reinvest in newer startups, alongside its fund model and returns.
Steve Baxter's Brisbane defence-tech fund announces it now holds unconditional early-stage venture capital registration, giving investors tax breaks; it has put A$4.45m into four companies so far.
Beaten Zone's defence-tech fund has won full ESVCLP status, unlocking tax breaks for its backers; the Brisbane vehicle has backed four companies with $4.45m and screens a deep pipeline of defence deals.
Melbourne data startup WhyHive is closing next month; founders T Guthrie and Matt Cohen couldn't sustain growth despite a $600,000 pre-seed round revealed last August with backing from Skalata Ventures and several tech founders.
Also Startup Daily
Weekly round-up of four Australian raises: Shift's $35 million Series D, Inform Ag's $7 million Series A, Cropify's $2 million round and WhyHive's $600,000 pre-seed.
Weekly roundup of three Australian raises: adtech firm Cuttable's seed round, Fundabl's equity round and SeenCulture's funding, naming investors, plus new Cuttable co-CEOs and a board appointment.
SeenCulture, a workplace platform, has secured $1 million in a pre-seed round from Alice Anderson Fund, M8 Ventures, InterValley Ventures and Torus, having earlier joined Techstars' first Sydney cohort with Cut Through Angels backing.
Also SmartCompany·SmartCompany
A Blackbird partner argues AI has revived vertical software by turning hard-to-sell customers into product-led buyers, noting the firm recently backed three such startups and recalling Aconex's sale to Oracle.
Also buildxact.com
A profile of Startmate ranking the twenty most valuable companies it has backed, noting their valuations, past raises and founders, plus Bugcrowd's newly announced purchase of Informer and its climate focus.
Atlassian's co-founder Scott Farquhar will vacate the co-CEO seat on August 31, staying on in governance and advisory roles, with Mike Cannon-Brookes set to lead alone from September.
Culture Amp is acquiring Orgnostic, a Belgrade-founded people analytics startup, for an undisclosed sum; its cofounders join as vice presidents and a combined People Analytics product is planned for later in 2024.
LaunchVic has selected ten scaleups for the last intake of its 30X30 mentoring program, which pairs their leaders with mentors from unicorn companies; the 20 earlier participants have together raised over $98.7 million.
Also RenewEconomy·RenewEconomy
SeenCulture's founder marks IWD by profiling four women who backed her HR-tech startup's growth: a mentor, its first investor, its operations head and an adviser, recalling its first cheque and Techstars Sydney cohort.
Psychotherapist Esther Perel has become Culture Amp's first external advisor, after years of involvement with the Australian employee experience platform, and will draw on its people scientists and data to inform customer insights.
AI search startup Marqo has landed a $12.5 million Series A and is relocating its headquarters to San Francisco, while LaunchVic statistics show Victoria's ecosystem grew in value despite a funding drop.
Mike Cannon-Brookes' investment vehicle Grok Ventures has hired Tan Kueh, ex-Macquarie, UBS and BlackRock, as CEO, joining CIO Jeremy Kwong-Law, as it sharpens its strategy around climate investing.
Bardee still supplies Bunnings and farmers despite big layoffs, slower production, and two regulator investigations; the agtech startup has raised $8 million, including a $5 million Blackbird-backed seed round.
Modo, a Melbourne company developing a mind-clarity app, has secured pre-launch backing of $800,000 from five funds plus founders of Culture Amp and Seer; the app offers subscription access from early 2024.
Salesforce is shutting its Australian venture arm amid global layoffs. Local head Mike Ferrari has departed, and the unit's Australian investments will now be run from the company's American headquarters.
Also Startup Daily
LaunchVic reopens expressions of interest for its 30×30 program aiming to create 30 Victorian unicorns by 2030, recalling last year's nine participants, while July appoints Joanne Smith as its first chief financial officer.
Secondaries fund SecondQuarter has reached an $83m first close on its second vehicle, aiming past $100m, with founder-angels and Minderoo among new backers; its portfolio includes past sales of ActivePipe and A Cloud Guru.
Also Techboard·Startup Daily
Workforce intelligence firm Reejig has raised $17 million with Salesforce Ventures investing, eight months after completing its Series A. The 2019-founded company's earlier backing came from Skip Capital, Airtree and Right Click Capital.
Also Startup Daily
Blackbird's investment note announces it led Excellent's pre-seed round, profiling the employee-experience design learning platform and its founders: Sam Gadd, formerly of Humankind and Kin, and Jenny, ex-Drumfit.
Also Startup Daily
OIF Ventures' note explains why the fund co-led an $8m seed round in video-testimonial software maker Vouch with US-based Stage 2 Capital, profiling the product, founders and go-to-market model.
Square Peg explains its rationale for leading Athena's Series B, joined by Hostplus and Airtree, with analysis of the Australian mortgage market, the challenger lender's model, and its founding and senior team.
Also Startup Daily·Australian FinTech·SmartCompany·SmartCompany·SmartCompany·Startup Daily·Startup Daily·Crunchbase News
Workforce analytics firm Reejig has raised a further fifteen million dollars, four months on from its October Series A, taking total funding to twenty-one million as backers double down ahead of US expansion.
Aura Group's year-end reflection argues strong culture drives startup success, citing Culture Amp's recently announced $100 million Series F at a $1.5 billion valuation and academic studies linking founder-set culture to outcomes.
Also TechCrunch Venture·SmartCompany·Startup Daily·SmartCompany·Techboard·Startup Daily·Startup Daily·Startup Daily
Weekly roundup of Australian startup raises, including Airwallex's Series E extension, Fleet Space's Series B and Montu's record crowdfunding, plus Giant Leap raising $19.5 million toward a $50 million second fund.
Also SmartCompany·Startup Daily·Startup Daily·SmartCompany·SmartCompany·Business News Australia·startupscaleup.com.au·SmartCompany
Startup Daily reports the Atlassian co-founder and his wife have pledged a billion dollars via their family firm Grok Ventures to climate-focused startups, plus half a billion to philanthropy.
Weekly roundup reporting numerous Australian and New Zealand startup raises, Icehouse Ventures securing fund capital, GitLab's IPO, two acquisitions, Clover's closure, and Openpay's debt facility.
Also Startup Daily
Workforce intelligence platform Reejig has raised a $6 million series A led by Skip Capital, with Airtree Ventures and angels participating, following its 2020 seed, to fund expansion into the United States.
Also SmartCompany·Startup Daily·Cut Through Venture·Startup Daily·Startup Daily·SmartCompany·SmartCompany·Startup Daily·Women's Agenda
Blackbird advertises an open Compliance and Risk Manager position in its operations team, describing the compliance duties involved and the benefits of working at the venture firm.
Employee experience platform Culture Amp has bought San Francisco values-recognition startup Disco for an undisclosed sum, with Disco's former CEO joining Culture Amp and an Asana executive added to the board.
Also Startup Daily
Techboard's July 2021 roundup of Australian startup funding notes Go1's unicorn-making Series D, Culture Amp's US$100m raise, and ROKT's round valuing it at $1.36bn.
SmartCompany reports Mable and SiteMinder have each landed nine-figure cheques, from General Atlantic and Fidelity International respectively, with a Right Click Capital partner tipping more big deals as the local ecosystem matures.
Also SmartCompany·Startup Daily·SmartCompany·Startup Daily·SmartCompany·Startup Daily·Startup Daily·Startup Daily·Startup Daily·SmartCompany·Startup Daily