Australia: SPT raises $1.15m, ClassCover secures seed funding, Dimension Data and Deakin launch cybersecurity incubator

The latest in the deals landscape in Australia has seen Sports Performance Tracking (SPT) secure $AU1.5 million ($1.15 million), while ClassCover has received AU$600 thousand ($458,000) in seed funding. Additionally, Dimension Data and Deakin University have partnered to launch a cybersecurity incubator.

SPT gets $1.15 million

Melbourne-based Sports Performance Tracking has received over $1.15 million in an angel funding round led by existing investor Brady Scanlon. This follows a previous AU$900 thousand ($626 thousand) angel round led by Gandel Invest founder Tony Gandel in September 2015.

SPT offers GPS technology to amateur athletes in local sporting clubs. Their first product, GamaTraka, gives juniors, amateur and professional athletes the ability to review fitness levels, in-game work review individual performance data such as fitness levels, in-game work rates and training levels through GPS technology.

The technology is now sold in 40 countries, as 60 per cent of the Australian company’s revenue is made overseas. CEO William Strange says the funding will be used for further international expansion.

Reportedly, a number of larger clubs have also become users of SPT’s technology. These include including English Premier League club Sunderland and a number of Championship teams

ClassCover lands  $458 thousand

Sydney’s ClassCover has landed a $458 thousand funding from VC fund Follow[the]Seed. This is the AU$50 million-strong ($38.20 million) fund’s first ever investment.

The Follow [the] Seed fund is offering second-stage funding for Australian companies, and uses an algorithm called RavingFans to select the best investments. Startups can log onto the VC fund’s website, download their algorithm and send it back within a few weeks where Follow[the]Seed will be able to decide whether funding is possible or not based on the algorithm’s collected data.

The fund will be targeting innovative online consumer startups. The RavingFans algorithm will work to identify which products can become daily habits for users.

ClassCover is an automated platform for schools to book substitute teachers. After launching in 2012, the startup now operates in Australia and New Zealand and has over 35,000 teachers using the app along with 15 per cent of addressable schools in Australia.

Dimension Data-Deakin Univerty cybersecurity incubator to launch with govt grant

Technology major Dimension Data is partnering Deakin University to launch a cyber security incubator based in Geelong, facilitated by an AU$450,000 Victorian government grant that will see students, startups and industry work together to address the rising threat of cyber crime.

According to Dimension Data Australia services director Duncan Brown, this incubator will be focusing on building and leveraging local capabilities to tackle the problem. It is reported that Australian small business have lost up to $1.6 million in the past six months due to cybersecurity threats.

Incubator participants can tap Dimension Data’s network of cybersecurity professionals, market entry expertise and startup projects, in addition to the Deakin University’s facilities and research. This is part of an effort to drive more locally-developed cybersecurity tools, programs and methodologies.

With information security an increasingly crucial concern for both large enterprises and SMEs, the incubator will leverage on existing partnerships to generate marble-viable outcomes and enable startups to get strong mentoring in order to proceed past the ‘startup valley of death’.

Also Read:

Australia Digest: RedEye gets $250k; CPP IPO on ASX; NSW sets up startup grants

Australia Digest: Worldpay launch; Uniti funding; US Skatespot buys startup

Australia Digest: ACAC funds Lawcadia; Atlassian acquires Statuspage

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.