The milestones keep coming for Queensland risk and project management software company SurePact, with technology investor and fund manager Future Now Capital investing $2 million into the growing tech business.
For SurePact, this investment comes off the back of hard work, dedication and great progress since launching in late 2017.
With this capital raise, SurePact will focus the funds on three areas: growth, marketing and product development. Particularly the capital will enable SurePact’s scaleup program.
“The overall goal is to execute a growth strategy. The key to that is hiring and investing in more quality people, broadening the executive team with quality hires,” Future Now Capital Partner Chris Lee says.
“SurePact will also be significantly increasing its sales and marketing budget as we look to enter new markets. The third major area is in technical product development capability.”
Future Now’s investment will help bring new people in enterprise sales and customer success, and allow further product development to support the current team.
“We have an ambitious product roadmap and will utilise Future Now’s investment and strategic know-how on this journey,” SurePact Founder and CEO Megan Avard says.
While the capital will of course bring an array of opportunities to SurePact, Future Now brings other significant benefits to the table.
“Future Now Capital is an involved investor and as such brings other attributes to this partnership,” Lee says.
“We will supply an industry heavyweight as our board representative, help SurePact navigate and make the most of the vast Microsoft ecosystems and enterprise sales platforms, bring our own network in enterprise sales, technology development and our knowledge of the growth path for young technology businesses.”
“Future Now brings not only capital but a deep industry experience as well as knowledge in navigating and leveraging Microsoft’s global ecosystem,” Megan says.
The main benefit of this funding to SurePact is enabling it to provide strong and broader based support. And Future Now will also look to enhance and improve the SurePact suite of products and services.
When it comes to welcoming SurePact into the Future Now Capital portfolio Lee says, “SurePact fits all of our investment criteria as it is established and growing, but is only at the early stage of its scaleup journey.
“SurePact already has a strong relationship with and is embedded on many Microsoft platforms and programs, and is a great solution to a big problem for governments, their agencies and corporates through not just Queensland but also nationally and globally.
“We also see current and future synergies around the business applications solution areas and industry go-to-market offerings.”
Lee says SurePact and Future Now Capital are complementary businesses.
“Megan and the team are great examples of Australian innovators and product developers delivering benefits and savings through digital transformation,” Lee says.
“Particularly, Megan is a really impressive person and is proving an excellent founder and leader. We have a great cultural alignment with the SurePact team and through our initial investment process were able to work collaboratively with the team to map out the future growth and success of the organisation.”
“We’re delighted that Future Now Capital is our first external investor,” Avard says.
Read more on this announcement on the Australian Financial Review here.