The 10 biggest capital raises by Australian startups last quarter

James Cameron (AirTree), Bridget Loudon (Expertr360), Emily Yue (Expert360) and Daniel Petre (Expert360). (Source: supplied)

Venture capital and research firm Right Click Capital has reported on startup activity for the quarter ending September 30, and it shows the 10 biggest capital raises in Australia during the period.

The Australian tech sector saw more than $192.9 million of investments and acquisitions, which was down on the June quarter’s $481.1 million. The average deal value for the September quarter was $6 million.

Despite the decline in monetary value, Right Click partner Ben Chong said that the 60 deals tracked in the latest quarter, split evenly between investments and acquisitions, suggested investor interest was still strong for tech.

“We’re buoyed by the increased high quality deal flow from Australian founders, particularly those with international customers,” he said.

“A majority of acquisitions involved software and service companies, reflecting investments made into this sector a few years ago. Given the recent number of investments into transaction sector businesses, we expect exits to follow this trend in coming years.”

Computer server hosting provider Digital Pacific topped the league table for its $52 million sale in July to Hostopia Australia, which is the local arm of US multinational Deluxe Corp.

Digital Pacific founder Andrew Koloadin started the company 18 years ago and stepped down from the chief executive position upon the acquisition, but remains on the board.

Artificial intelligence startup Hyper Anna, which this week made the Fintech100, had the second highest capital raising round this quarter, bringing in $16 million in August.

Consulting labour marketplace platform Expert360’s $13 million round in July, led by AirTree Ventures, rounded out the podium in third position.

Here are the 10 biggest Australian deals for the quarter ending September:

Source: Right Click Capital

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