Instaclustr lands $7m round led by Bailador Technology Investments
by David Swan, via The Australian
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.
The Canberra-based high tech company, led by CEO Peter Nichol, offers an open source data platform for cloud solutions. The deal will see Bailador’s Kirk and Andrea Kowalski represent Bailador on the board of directors.
Kirk told The Australian he had a lot of faith in the Instaclustr management team, and he’d worked hard to understand the space and the technical aspects of what Instaclustr’s doing.
“They’re a really great team, they really understand the market and product market fit,” Kirk said. “They’re tackling a big market which is important, and they have established revenue and repeating revenue, they have loyal customers continuing to pay over time.
“Instaclustr is a product-led company. It was clear through our due diligence that Instaclustr is the market leader, underpinned by a world-class team and deep expertise in this vertical.”
Nichol said he was excited to partnering with Bailador, and he’d been working for the last several months to find the right partners in terms of investors.
“What we look for is organisations that share our vision, that has a really good understanding of the market we’re playing in,” Nichol said.
Nichol said Instaclustr’s technology addresses the needs of companies with massive data management requirements, particularly focusing on internet of things, personalisation, messaging, fraud detection and list management.
The firm was founded in Canberra in 2013 by co-founders Ben Bromhead and Adam Zegelin, and initially bootstrapped by Peter Lilley and Doug Stuart following the exit of their prior company, Stratsec, to BAE Systems in 2011.
“The capital will be used to accelerate our growth with investment in two main areas — sales and marketing,” Nichol said.
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