Australia: Shootsta secures A$1 million in seed funding

Visual of Shootsta homepage. July 2016

Shootsta, a Sydney-based video production start-up with a A$7 million ($5.2 million) valuation has closed a A$1 million ($748,000) funding round with an investment from ASX-listed advertising agency AdCorp, who possess a 15 per cent stake in the startup venture.

Shootsta provides large companies with training, along with equipment enabling them to shoot their own videos, after which the footage is then sent back to the startup for post-production edits.

AdCorp CEO and managing director David Morris joins the board, while Shootsta co-founders, CEO Mike Pritchett and COO Tim Moylan, will continue to lead operations in the venture, which will now become a core part of AdCorp’s offering, with proceeds from the funding being used to expand the startup’s marketing and sales efforts.

In six months, the startup has amassed high-profile clients such as Qantas, Bank of Queensland and Toyota, enabling Shootsta to not only close funding but also to secure more than 20 blue chip partners.

“Our offering is unique, it’s something that’s very much needed in the industry,” Pritchett, who has experience in video production, told StartupSmart in an interaction. By “upskilling” these companies with content creation skills, they are able to drive down production costs. Pritchett highlights two core strategies have helped Shootsta get to this stage.

Investment in sales talent, via recruiting a business development manager and assistant sales manager has aided Shootsta in raising awareness of its brand. This follows Pritchett admitting to errors with regards to sales, as well as the risk associated with working for startup ventures, which can deter prospects used to the greater certianty associated with the corporate sector and small and medium enterprises (SMEs).

Prior to the acquisition of sales talent, Pritchett secured the initial clients by himself, reinvesting sales proceeds into acquiring and expanding their client base, saying, “You almost have to be a salesperson to start with so you’ve got money to pay them and bring enough of a substantial offering so they can trust what your doing.”

Also Read:

Australia Digest: Pundit Connect closes A$305k seed; Melbourne to launch startup district

Australia: Alchemy Ventures launches with $200m dry powder for early startups

Australia: Frontier Digital Ventures to raise $18.7m in ASX IPO

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.