Sensear completes $7m capital raising

Unlisted Perth company Sensear has completed a $7.1 million capital raising to support its global sales push and further enhance the company's innovative hearing technology.

Sensear is a world leader in the development and manufacture of communication headsets designed for use in high-noise workplaces.

Sydney-based private investment firm Exto Partners managed the capital raising.

"In a tough market for any emerging technology company, Sensear has continued to prosper, to which we thank our stable base of shareholders and customers for their continued support," said CEO and co-founder Justin Miller, who is now based in San Francisco.

Sensear is now being sold and supported via a network of hundreds of safety distributors, two-way radio dealers and communication resellers from around the globe.

"We are seeing an increasing demand for high quality communication devices that protect people in noisy environments," said Extro Partners managing director Peter Hammond.

"The rapid growth in the distribution opportunities for Sensear products, driven by strong demand from some of the world's largest and most successful industrial companies, gives us confidence that Sensear's rapid growth will continue." Mr Hammond added.

In what is a world first, Sensear is allowing the convergence of hearing protection with all forms of communication and also situational awareness.

"Our customers are very thankful for the Sensear breakthrough," said Mr Miller.

"The traditional big suppliers of hearing protection haven't really listened to the market, as hearing protectors that don't allow you to safely hear your surroundings or communicate, are akin to safety glasses that impair your vision or a safety boot that doesn't allow you to walk."

See full company statement below:

Sensear, an Australian based world leader in the development and manufacture of high noise communication headsets, today announced the completion of a private funding round, supported by existing shareholders, totalling $7.1 million. Sydney based private investment firm Exto Partners managed the capital raising. The capital infusion will be used to strengthen global sales growth and to further enhance Sensear's award winning technology and products capabilities.

"In a tough market for any emerging technology company, Sensear has continued to prosper, to which we thank our stable base of shareholders and customers for their continued support" said Justin Miller, the now San Francisco based Sensear co-founder and CEO.

Sensear's global growth has seen its products deployed in the harshest and noisiest of environments, by some of the world's largest companies. From ice runways in Antartica, shipyards in the UK to the mine sites in Chile, Sensear is now being sold and supported via a network of hundreds of safety distributors, two-way radio dealers and communication resellers from around the globe.

"We are seeing an increasing demand for high quality communication devices that protect people in noisy environments. The rapid growth in the distribution opportunities for Sensear products, driven by strong demand from some of the world's largest and most successful industrial companies, gives us confidence that Sensear's rapid growth will continue." said Peter Hammond, Managing Director of Exto Partners.

In what is a world first, Sensear is allowing the convergence of hearing protection with all forms of communication and also situational awareness. Mr. Millers adds "Our customers are very thankful for the Sensear breakthrough. The traditional big suppliers of hearing protection haven't really listened to the market, as hearing protectors that don't allow you to safely hear your surroundings or communicate, are akin to safety glasses that impair your vision or a safety boot that doesn't allow you to walk. Sensear is changing the way workers are now able to safely communicate at high noise job sites and importantly it is having a profound effect on their wellbeing and productivity. It's a win for employees and employers alike."

About Sensear
Founded in 2006 and headquartered in Perth, Australia, Sensear is a world leader in the development and manufacture of high noise communication headsets. The company now has offices in Sydney and San Francisco with regional sales offices, distributors, dealers and resellers in the majority of countries around the world. Sensear's patented combination of hardware and software, isolates, cleans and packages speech while suppressing background noise to a safe level. The award winning technology has been incorporated into both ear plug and ear muff headsets that, whilst retaining situational awareness, enable face to face, mobile/cell phone, short range and two way radio communication in the harshest and noisiest of environments.
About Exto Partners
Exto Partners is a Sydney based diversified private investment firm that invests in early stage Australian businesses that develop and commercialise innovative products and services that have the potential to transform established industries and deliver significant financial returns for investors.