By Fiona Rotherham via www.scoop.co.nz
Straker Translations, a world leading hybrid translation platform, today announced a further NZ$1m of equity funding from a Hong Kong based investor, who paid a 20 percent premium to the last capital raise in September.
Straker founder Grant Straker said he hasn’t yet spent the money from the September fund raising and didn’t need the capital but the investor had “liked the progress we have made and wanted to be involved in our success so it was an opportunity to have a bit more in the tin at a fair price.”
“November was a great month where we had more than $1 million in recognised revenue and were profitable for the month, so we don’t have the burn rates of many other high-growth tech companies” he said.
The company is looking at buying rival translations companies in Canada and the UK where there’s an opportunity to quickly acquire customers.
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