The course for growing a business is never linear and it is full of highs and lows, achievements and setbacks. And in my experience, the greater the goal and challenge, the more extreme the highs and lows will be. So when we set an objective of building a global business and a deep tech product that would change the paradigm of SMEs across the planet failing because they don’t have the experience to really focus their digital marketing, we knew we were setting ourselves up for some extreme highs and lows.
Fortunately today, I am able to share news about an extreme high with you, our fantastic community, but this is not just news, it is a big thank you too. Because without our community of customers, partners, team, investors and advisers, this would not have been possible. Your feedback, patronage, encouragement and yes, constructive criticism, have all made it possible. We have a long way to go to realise that goal, but we have also made a lot of progress and we are very proud of that.
On behalf of my Co-Founder Johnson, our great team, and myself, I am very pleased to announce that Metigy has recently completed a capital raise for AUD $20M (US $14.6M). While this is our fourth raise and brings total capital raised to date to AUD $27.1M, it is, as you will appreciate, a quantum step in terms of our ability to execute on our ambitions of solving this paradigm and building a truly global business helping SMEs across the planet master digital marketing. To anyone who has been an entrepreneur or been connected with a startup or SME that failed because they could not master growth and find new customers, you will understand why we are so passionate about meeting this challenge.
On a personal note, as the CEO and Co-Founder, having the capital resources to achieve our potential, is a huge responsibility and a massive challenge. I can’t speak for all founders, but most I know, always say it is the hardest part of their job. I would also say that doing it during Covid has been twice as challenging and taken twice as long. Fortunately the effort was worth it as we originally planned to raise AUD $10M but closed the raise 100% oversubscribed at AUD $20M. So it was a great outcome. I don’t mind saying I feel very fortunate and relieved to have achieved this outcome in this environment.
I would also like to acknowledge our early-stage investors Cygnet Capital and CP Ventures who worked with us on this raise and Cygnet led this raise and helped us attract some great institutional investors including Regal Funds Management, OC Funds, Five V Venture Capital, Thorney and Terra Capital.
As you will appreciate, it gives Metigy the resources to move faster and do more than we planned.
Of course you can expect to see this manifest itself in faster product evolution as we can bring great new people to the team to help us achieve this by bringing our product roadmap to life faster, bolder and with even more capacity to meet your requirements as a customer. We have so many wonderful product initiatives planned we can’t wait to have you using them to drive your own growth.
We will be putting more resources into building our community and the Metigy Education program as we source globally for best in class education and ideas to help you master marketing and learn from your peers.
We have some great technology partners already working with us to embed their products inside our ecosystem so we can give you new resources faster including graphic design and copywriting services to save you time, video creation and storytelling technology to inspire your video creativity, integrated web and landing page builders, and that is just to name a few of the great initiatives in motion.
Anyway, that is our big news for November 2020. Now on with the work!