Straker raises a further NZ$1 million for global acquisitions

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.

 

For the full article, click here

More Portfolio News

Instaclustr and SiteMinder lead innovation on Amazon Web Services

Two of Bailador’s portfolio companies have been named as top Aussie start-ups credited with leading online innovation in an article by CIO.
Read more

Instaclustr lands $7m round led by Bailador Technology Investments

Open source data platform firm Instaclustr has closed a $7m investment round led by Bailador Technology Investments, the firm founded by ex-Fairfax chief David Kirk.
Read more

AI-powered translator seeks 2017 listing

Paul Smith in the Australian Financial Review interviews Grant Straker of Straker Translations about their recent acquisitions and plans for a 2017 ASX IPO.
Read more