IPitch Startup expanz has received $1 million in funding from venture capitalist Roger Allen. With his background in Enterprise Software, Allen’s could easily see the productivity and portability benefits of expanz’s application framework and liked that “they have customers who pay them money today.”
The fact that expanz actually use their own platform to build and support their own ERP application was another factor along with expanz’s focus on cloud computing. “With the industry shift to cloud computing, which I think will be a profound long term trend, I see the next big opportunity as application platforms as a service and expanz has the technology to do well in this large global market.”
Expanz were one of 6 early stage application platform vendors named by Gartner as a 2010 cool vendor and closer to home expanz was featured as one of 6 hot aussie startups tipped to follow in the success of Atlassian, the Sydney startup success that raised $US60 million in July. Put simply, expanz allows .Net developers to build apps much faster than they otherwise would by reusing code rather than writing it. The company’s motto, “code once, reuse”.
CEO of expanz, Matt Clarke, says his team was attracted to Allen because “he has been there and done that in Enterprise Software both from an entrepreneurial perspective and an investment perspective… He will add significant value to expanz, particularly around our imminent plans to enter the US market.”
For IPitch tech Startups looking for venture capital take note. “Allen says when looking for investment targets of this type he considers the value proposition to customers, what pain point does it solve, the depth and value of the IP, the scalability of the business model and propensity for the business to generate global revenue and the competence, tenacity and ethics of the management team.”
Who’ll be next?