Perth-based software firm APE Mobile has raised $2 million through private equity fund managers Jolimont Global and Viburnum Funds.
Perth-based software firm APE Mobile has raised $2 million through private equity fund managers Jolimont Global and Viburnum Funds.
APE, which is the developer of a paperless onsite app for the construction and resources industries, was seeking $1.5 million to fund further development and growth.
The company says rapid adoption of the app meant it had achieved a monthly growth in revenue of 20 per cent since launching in January 2014.
APE founder and chief executive Matt Edwards said he was pleased to have experienced investors backing his company.
“Since our launch last year we had an amazing response from large enterprises and small contractors alike, with customers so far including Iluka Resources, Calibre Global and Tasman Civil,” he said.
“The raising provides us with further financial security and underpins our plans to expand on the east coast of Australia and overseas.”
Jolimont Global managing partner Lex McArthur was also positive about the potential directions for APE’s growth.
“We are excited by the scalable nature of the business and the customer traction that APE Mobile has gained already. Its proprietary cloud platform provides a multitude of pathways for APE Mobile to enhance and expand its business,” Mr McArthur said.
APE’s app is designed to allow contractors to securely manage paperless forms onsite with or without an internet connection.
The app was the only Perth-based finalist in this year’s OzApp awards, won an honourable mention in Business News Rising Stars startup category and has attracted such clients as Rio Tinto.
The company claims the speed and paperless system can save the user up to two hours a day.
Significant investors include Wyllie Group, which was Viburnum’s foundational investor and retains close links to that fund manager.
Jolimont Global Mining Systems is a joint venture between Melbourne-based Jolimont Capital and mining investor Resource Capital Funds.
Jolimont Global and RCF have become more active in the WA tech sector, with both groups providing financial and mentoring support for KPMG's Enegerise technology accelerator.
Jolimont's directors include Larry Lopez, who is also one of the backers of the OzApp awards and recently joined the board of Resources innovation through Information Technology, the not-for-profit body that runs the Unearthed accelerator.
