Ledger.

Startup · $310m raised

CultureAmp

Melbourne, VIC

Coverage

Stories naming CultureAmp. Where several outlets covered the same round, they are bundled under whichever ran the fullest account.

Key hire

Airwallex strengthens Australian leadership appointing Elana Rubin AM and Sir Bill English to its Australian board

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.

Pre-seed $2m

💫 Ramplify: December Details

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.

Also SmartCompany·Startup Daily

Funding announcement

From 0 to 4.5 billion: how the Startmate pay-it-forward mentorship model built a startup powerhouse

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.

Exit / M&A

Beaten Zone Venture Capital Fund 1 Achieves Unconditional ESVCLP Registration

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.

News

Beaten Zone fund wins approval, targets AUD $451m defence tech

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.

Pre-seed $600k

WhyHive, the 'Canva for data', shutting down after pre-seed round

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

6 deals

Four Aussie startups that raised $44.6 million this week

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.

Also SmartCompany·Startup Daily

3 deals

Three Aussie startups that raised $9.7 million this week

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.

2 deals

Employee retention startup SeenCulture raises $1 million pre-Seed round

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

Funding announcement

From SaaS to SaiS: A River of Inquiry into how AI is unlocking vertical SaaS

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

Fund close $200k

Startmate’s top 20 most valuable investments

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.

4 deals

LaunchVic has picked the final 10 startups it thinks have unicorn potential in the 30×30 program

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

Series A $12.5m

Melbourne AI startup set for global expansion after $12.5 million raise

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.

Funding announcement

Mike Cannon-Brookes names former Macquarie banker Tan Kueh as Grok's CEO

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.

Unnamed stage $800k

Mental health app idea that’s ‘like Marie Kondo for your mind’ kicks off with $800,000

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.

2 deals

Alternative liquidity investor SecondQuarter raises $83 million for 2nd fund backed by Andrew Forrest, Sam Kroonenburg & Dom Pym

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

4 deals

HR analytics startup grabs $15 million from Salesforce

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

Series B $25m

Investment notes: Athena AU$25m Series B

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

3 deals

HR analytics startup Reejig tops up Series A with $15 million

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.

Also Women's Agenda·Startup Daily

Series D+ $100m

Doubling down on culture: 2021 Year in Review

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

13 deals

Ten Aussie startups that raised a total of $267 million this week

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

Funding announcement

Mike & Annie Cannon-Brookes just turned Grok Ventures into Australia's first $1 billion VC fund to invest in climate tech

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.

18 deals

Ignition Lane's Weekly Wrap: E-I-E-IPO, Pause Fest goes on permanent pause, New Zealand raises ramp up

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

2 deals

AI-based job skills analysis startup Reejig raises $6 million series A for US push

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

Exit / M&A

Culture Amp snaps up US workplace values startup Disco

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

2 deals

Two startups bag $100 million deals, as Aussie ecosystem hits a new level of maturity

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

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