Menu
SaaS developer Unleashed Software secures $7M investment

SaaS developer Unleashed Software secures $7M investment

Auckland-based inventory management systems developer ​Unleashed Software has won Series C investment from Movac.

Inventory management SaaS developer Unleashed wins Series C investment.

Inventory management SaaS developer Unleashed wins Series C investment.

Auckland-based inventory management systems developer Unleashed Software has won $7 million of Series C investment from venture capital company Movac.

Unleashed develops software-as-a-service (SaaS) inventory systems for wholesale distributors and manufacturers.

“We have been building our core product and markets for eight years now and the market now feels like it is really starting to embrace cloud based applications," Unleashed Software CEO Gareth Berry said.

Although there are a large number of capital providers in the Australasian market, Berry said Movac was the best choice due to their deep SaaS knowledge, experience building global high growth companies and alignment with Unleashed’s core values and strategies.

In 2015, Unleashed raised $4.5 million, partly funded by exiisting investor and MYOB founder Craig Winkler.

Unleashed estimates there are over five million wholesaler-distributors and manufacturers that the business could provide the ‘system of record’ to - it currently services customers in over 88 countries.

The funds will go towards developing of the next generation inventory management software and support the global growth of the company.

Movac partner Mark Stuart, who will now join Unleashed's board, said the company had been following the progress of Unleashed and been impressed with their proven model and strong customer base. 

“They have built a great product and sustainable business with very efficient use of capital, and we are looking forward to working with the team to help them achieve their aspirational goals to be the global standard for inventory management," he said.

Berry said New Zealand and Australian markets have been early adopters of cloud based software solutions, however, Unleashed is also see opportunities in the UK and the US where businesses are starting to migrate and adopt best in breed solutions to run their businesses. 

"This presents an amazing opportunity for us, with a substantial amount of growth in our businesses forecast to come from the northern Hemisphere over the next few years," Berry added.


Follow Us

Join the newsletter!

Or
Error: Please check your email address.

Tags CloudSaaSVenture capitalinventory managmentSoftware as a serviceunleashed movac

Featured

Slideshows

Bumper channel crowd kicks off first After Hours of 2018

Bumper channel crowd kicks off first After Hours of 2018

After Hours made a welcome return to the channel social calendar with a bumper crowd of partners, distributors and vendors descending on The Jefferson in Auckland to kick-start 2018. Photos by Gino Demeer.

Bumper channel crowd kicks off first After Hours of 2018
Looking back at the top 15 M&A deals in NZ during 2017

Looking back at the top 15 M&A deals in NZ during 2017

In 2017, merger and acquisitions fever reached new heights in New Zealand, with a host of big name deals dominating the headlines. Reseller News recaps the most important transactions of the Kiwi channel during the past 12 months.

Looking back at the top 15 M&A deals in NZ during 2017
Kiwi channel closes 2017 with After Hours

Kiwi channel closes 2017 with After Hours

The channel in New Zealand came together to celebrate the close of 2017, as the final After Hours played out in front of a bumper Auckland crowd.

Kiwi channel closes 2017 with After Hours
Show Comments