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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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.