Sydney, 03 December 2020
Prospecta Software Australia Pty Ltd (“Prospecta”) is pleased to announce it has completed a growth capital round, securing an investment of up to $20 million from the Ellerston JAADE Australian Private Assets Fund (“the Fund”) to accelerate its product and growth strategies.
Prospecta is a leading provider of data governance and master data management for enterprise clients. Today the business has more than 45 clients, including Visy, Optus, Dow Chemical, Hess Corporation, Mondelez, Fortescue Metals Group, Brookfield, Inghams, Norfolk Southern Checkpoint, Nemak and Godrej.
Data integrity is now a key boardroom topic and Prospecta’s cloud-based platform, called Master Data Online (MDO), is fast becoming the preferred option for companies seeking to improve data integrity. Certified by both SAP and Salesforce, MDO’s modules cover master data governance, data quality, supply chain collaboration, workforce safety and managing enterprise asset data.
Prospecta has weathered the COVID-19 storm well, as most enterprises have used 2020 to focus on fixing their data integrity systems and strengthening their supply chain management, logistics and use of cloud-based technologies in preparation for a strong rebound in 2021. In the face of this demand, and with long-term contracts in place, Prospecta is expecting strong growth in 2021.
The investment proceeds will help Prospecta consolidate its leading position in the Australian market, further develop core technologies and underwrite a geographic expansion in its sales and distribution. The company is now well-positioned to expand its market share and to enter new markets, including North America where it already has a growing customer base which includes Fortune 50 companies.
Prospecta CEO and founder Ranjan Bakshi said that Prospecta was pleased to secure the support of an Australian-based fund that shared its aspirations of building a globally competitive software business and is committed to help the business deliver on this growth potential.
“At Prospecta, we are passionate about building a globally competitive data governance solution for our clients and encouraging a cultural shift to make data integrity the responsibility of every employee. Everyone is a data steward. It is pleasing to have found in Ellerston JAADE an investor that shares this outlook and, even before investing, had already assisted with client introductions and with access to new ideas and new networks”, Mr Bakshi said.
For the Ellerston JAADE team, this is the fifth investment made by the Fund, with Prospecta joining Mable, Camms and SiteMinder in the portfolio, after exiting its investment in Tyro Payments during its successful IPO in 2020. The Fund combines complementary skills in providing operating and management expertise with a proven track record of investment in expansion and growth stage Australian companies.
Ellerston JAADE Investment Director Anthony Klok said that he was delighted that Prospecta would be joining the portfolio of exciting growth companies already in the Fund.
“We undertook a great deal of research to understand the potential for the master data management solution offered by Prospecta. We think that MDO helps solves a global problem for large enterprises, and Prospecta is first in class in this area. We look forward to a very rewarding partnership with Ranjan and Prospecta.”
For further information:
Mobile: +61 406 759 268
Irene Kardasis, Head of Marketing & Client Services
Mobile: +61 449 108 080
About Prospecta Software Australia
Headquartered in Sydney, Prospecta provides niche services around enterprise customers for data and automation. The software group is one of the world’s key data management players and with a passionate and dedicated team of more than 150 people spread across three offices in Australia, US and India servicing a wide range of corporate clients, including iconic industrial brands and Fortune 50 accounts.
Positioned to be a leading solutions provider around the data challenges globally, MDO is Prospecta’s flagship product. With its unique ability to solve multiple problems of standardizing asset inventory challenges for global corporations, MDO has grown into a highly flexible enterprise solution, focused on clients’ multiple data management and governance requirements.
About Ellerston JAADE
The Ellerston JAADE Australian Private Assets Fund is a collaboration between the Ellerston Ventures investment team of David Leslie and Anthony Klok, and Aristocrat’s ex-CEO, Jamie Odell and ex-CFO Toni Korsanos. The founding partners are uniquely positioned and have complementary skill sets, providing proven operational and management expertise as well as a consistent investment track record. The Ellerston JAADE Australian Private Assets Fund is an Australian Expansion / Growth stage and Pre IPO investment fund operated as an open-ended unit trust.