Telstra Ventures invests in US tech firm Boomtown

Australia’s Telstra Ventures – which invests in high growth companies providing technology and solutions – has placed its bets on Boomtown, a US-based supplier of software and tech related services.

Telstra Venture aims to utilise the tech services of Boomtown for its businesses, particularly for the payments and networking related services, making life much easier for Telstra customers, the company said in a statement on Monday (November 14).

“Boomtown is enjoying great success in the United States with the growing popularity of their social support platform, which allows technology and service providers to easily collaborate and solve technology problems for their small business customers in real time. Looking around in this rapidly changing market they stood out as having a simple service that their customers love,” said Mark Sherman, managing director of Telstra Ventures.

Telstra has invested in about 30 businesses while based in Australia, China and Silicon Valley. Some of their investments include BigCommerce, an ecommerce platform that has offices in US and Australia, DocuSign, that allows users to go fully digital, signing documents in a digital way and making documents widely accessible. Their latest investment is in C88 Financial Technologies, a series B funding for the operator of some of the consumer financial websites in Indonesia and the Philippines.

Telstra’s typical investment is between $5 million and $50 million in already established business with bases in Silicon Valley, Australia and Asia Pacific.

One of the services of Boomtown is its Boomtown Connect app, a collaboration with Apple, which businesses can use to communicate though a live session for any IT support or technology related training. Boomtown has about 600 certified technicians to provide in-store support to customers across U.S.

“We are trialing Boomtown’s technology in the small business market in Australia. Telstra Platinum Technical Support is already one of our most popular consumer customer service offerings and Boomtown could potentially take that to the next level for our business customers,” said Sherman.

Boomtown’s founder and CEO, Alfred Chip Kahn IV said they are looking to expanding their geographical footprint of their platform that has a strong customer base in Australia and Asia.

“We’re excited to partner with Telstra to help small businesses in Australia take full advantage of today’s powerful technologies,” said Kahn.

Also Read:

Telstra Ventures leads series B round into financial website operator C88

Telstra Ventures eyeing Asia opportunity, say managing directors Matthew Koertge, Mark Sherman

Beijing API provider Cloopen lands investment from Telstra Ventures

 

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.