Story image

$7 million investment boost for Kiwi SaaS company

05 Oct 2017

Unleashed Software, an Auckland-based inventory management Software-as-a-Service (SaaS) provider, has received a Series C investment of NZ$7.0 million from Movac.

CEO of Unleashed Software, Gareth Berry, comments, “We have been building our core product and markets for eight years now and the market now feels like it is really starting to embrace cloud based applications.”

Berry says Movac was the best choice for Unleashed due to their deep SaaS knowledge, experience building global high growth companies and alignment with Unleashed’s core values and strategies.

“Globally, we estimate there are over 5 million wholesaler-distributors and manufacturers that Unleashed could be the ‘system of record’ for. Our customers have been very supportive on this journey, with many of whom now compete competitively on a global scale with our ‘best in class’ inventory management and manufacturing system.”

The funds will go towards fuelling the development of the next generation inventory management software and support the global growth of the company that now serves customers in over 88 countries in the wholesale, distribution and manufacturing sectors.

“We have been following the progress of Unleashed, and have been impressed with their proven business model and strong customer base,” comments Mark Stuart, Movac Partner.

Following the investment from Movac, Stuart will join the Unleashed board.

“They have built a great product and sustainable business with very efficient use of capital, and we are looking forward to working with the team to help them achieve their aspirational goals to be the global standard for inventory management.”

Berry says the adoption of cloud based systems on a global scale is only just starting to take off.

"New Zealand and Australian markets have been early adopters of cloud based software solutions, however, we also see big opportunities in the United Kingdom and the United States markets where businesses are starting to migrate and adopt best in breed component solutions to run their businesses,” adds Berry. 

“This presents an amazing opportunity for us, with a substantial amount of growth in our businesses forecast to come from the northern Hemisphere over the next few years.”

TechOne bringing solar lights to students in need
The company is partnering with charity SolarBuddy to bring solar-powered lights to children in energy poverty to alleviate study stress after dark.
Universal Robots aims for A/NZ growth with new hire
Peter Hern takes on the role of leading customer support, sales and partner development for Universal Robots in Australia and New Zealand.
Microsoft urges organisations to tackle data blindspots
Despite significant focus placed on CX transformation, over a third of Australian organisations claimed that more than one in five of their projects failed.
Raising the stakes: McAfee’s predictions for cybersecurity
Security teams and solutions will have to contend with synergistic threats, increasingly backed by artificial intelligence to avoid detection.
How big data can revolutionise NZ’s hospitals
Miya Precision is being used across 17 wards and the emergency department at Palmerston North Hospital.
Renesas develops 28nm MCU with virtualisation-assisted functions
The MCU features four 600 megahertz CPUs with a lock-step mechanism and a large 16 MB flash memory capacity.
Exclusive: Ping Identity on security risk mitigation
“Effective security controls are measured and defined by the direct mitigation of inherent and residual risk.”
CylancePROTECT now available on AWS Marketplace
Customers now have access to CylancePROTECT for AI-driven protection across all Windows, Mac, and Linux (including Amazon Linux) instances.