Microequities VC Fund backs Australia’s Outfit

Visual of Outfit homepage. March 2017.

Brisbane-based Outfit, which makes a cloud-based brand marketing automation solution, has closed an A$1 million ($761,995) investment from Microequities Venture Capital Fund.

Proceeds from the investment will be used to fund international expansion with the opening of an office in Seattle, as well as setting up offices in Singapore and the UK in the future.

The company claims that its cloud-based marketing automation tool reduces the time taken for organisations to prepare marketing material. Its main offering is a SaaS platform with pre-defined branding guidelines that automates the re-sizing and reorganisation of documents.

Self-funded to date, the additional funding is needed to grow the venture abroad, as well as hire new staff. Since launch, it claims to have built a user base of over 1,000 enterprise users including corporates like Red Hat and institutions such as Monash University and The University of Sydney.

Founder Bruce Stronge explained: “As businesses see their brands expand to new geographies, and across a growing number of online and offline channels, building and protecting a strong brand is both more important, but also more expensive than ever.”

“Rather than replacing designers, Outfit frees them from menial tasks and allows them to focus on what they do best – developing great creative concepts, rather than endlessly re-sizing documents. With Outfit, designers create once and watch their beautiful designs scale across multiple media formats,” Stronge adds.

The investment will see Howard Leibman, co-founder of Equity Venture Partners and a member of the Microequities Venture Capital Fund investment committee, join Outfit’s board of directors.

Leibman said, “In a little over a year since launch, Outfit has attracted a broad cross section of customers and is closing in on $1 million in annual revenues. This has been achieved without any external investment to date – testament both to the strength of the Outfit product and to the exceptional ability of Bruce and his team.”

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