EVP Update // August 2022

It’s been a busy few months for the EVP Team, launching our fourth fund, welcoming two new companies to the portfolio and supporting numerous portfolio transactions.

We also launched Mates & Mentors – a program designed to connect employees across our specialised B2B software portfolio through relevant automated monthly introductions.

We welcomed Mark Argaman to the team, and moved into our new EVP office. We're now on the lookout for a new Investment Analyst and an Accountant to join our team. Britt and Justin from our Investment Team will be hosting an AMA next Tuesday, 9th of August, on the Investment Analyst role. Register to attend here.

As we get ready to invest out of our new fund, we're actively looking for exceptional early-stage B2B software companies. If you'd like to chat about funding for your startup, please get in touch.

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Launching EVP Fund IV_

Over the past ten years we’ve had the privilege of partnering with some of Australia and New Zealand’s most successful B2B software companies. With Fund III capital fully committed, we are excited to be raising our fourth fund. EVP Fund IV is a $100m fund. It’ll take our total funds under management to over $250m, and expand our portfolio to over 50 companies. EVP Funds are available exclusively to sophisticated investors and Family Offices. If you’re interested to find out more about the opportunity, please be in touch.‍

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Portfolio Welcomes_

Veridooh {

We’re excited to welcome Jeremy, Mo and the Veridooh team to the EVP Portfolio, following their $5m Series A raise. Veridooh is an always-on content verification platform that independently tracks, measures and verifies the performance of digital Out of Home (OOH) advertising campaigns. The company’s proprietary technology aims to drive trust, transparency and confidence in the OOH advertising industry. Read more about why we invested in Veridooh in our Investor Notes here. }

BlendAI {

We’re also excited to welcome Dean, Michael and the BlendAI team to the EVP Portfolio, following their $1.5m raise. BlendAI’s product helps its customers to grow by implementing cross channel advertising optimisation algorithms. These algorithms automatically distribute ad content across multiple platforms and then dynamically manage ad spend according to which distribution platform is performing best. Read more about why we invested in BlendAI in our Investor Notes here. }

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Portfolio Raises_‍

Shippit – $65m {‍

Congratulations to Will, Rob and the Shippit Team on securing a $65m Series B extension round. Founded in 2014, Shippit provides a logistics platform for online retailers. The Shippit technology enables merchants to book across multiple carriers, minimise shipping costs and deliver a superior post-purchase experience for their customers. This round marked a $300m valuation, reflecting the company’s material growth through 2021, with a total of 40 million deliveries. }‍

Fergus – $13.5m {

‍Congratulations to David and the Fergus Team on securing a $13.5m Series B round. We first invested in Fergus back in 2017 when we led their Series A round. Fergus is a New Zealand based job management platform focused on trades businesses. Customers use Fergus to manage all aspects of their operations, including quoting, scheduling, time sheets, communications, ordering, invoicing, payments and resource planning. This round takes the company’s valuation to just under $100m, and was led by Octopus Ventures. }

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In the news_

• The Australian’s Top 100 Innovators List featured a number of EVP Founders, including Will On and Rob Hango-Zada, founders of Shippit, Silvia Pfeiffer, founder of Coviu Global, Paul Tory and Josh Goulburn, founders of Foodbomb, Markus Deutsch, founder of Fusion Sport and Edward Hartley, George Hartley & Philip Slusarski, founders of Bluethumb.
• Lumary won Salesforce.org’s APAC ISV Partner of the Year award.
• Ignition won Practice App of the Year: United Kingdom at this year’s Xero Awards. The EMEA team won the Accountancy Software of the Year Award at the Arena International Accounting Forum & Awards.
• Hnry won the People’s Choice Award for Fintech Organisation of the Year at the Finnies (sponsored by the ASX). Hnry were featured in Startup Daily, and interviewed on ausbiz TV on their new partnerships with Tyro Payments, Blys, Kynd, and Expert360.
• Canibuild won Most Innovative Proptech Start-Up in the Sales & Marketing Category at Proptech Association Australia, with Tim also being awarded the Proptech Leader of the Year award at the Proptech Hub WA awards.
• Hnry and Mooven made the Matchstiq Top 100 list of Aotearoa's best tech companies and startups to work for in 2022.
• Mooven was featured in BusinessDeskNZ and IntelligentCIO.
• Practifi were featured across a number of advisor publications including Independent Financial Advisor, Wealth Solutions Report, Advisorpedia and Smart Company.
• Rob Hango-Zada, Co-founder and Co-CEO of Shippit wrote an article for InsideRetail on how retailers can diversify their carrier strategy.
• Jeremy Yang, Co-Founder of Veridooh joined Startup Daily TV to talk about the company’s first capital raise and vision for the future.

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Latest Insights_

> Cohort Analysis – Allen's Desk Notes on key SaaS metrics EVP explores_ { Read notes }

> Listen to Justin Lipman (EVP) and Will On (Shippit) in their interviews with The Startup Playbook Podcast_ { Listen here }

> Launching Mates & Mentors – EVP's new program to connect employees across the EVP Portfolio_ { Read more }

> Unpacking forecasting in a bear market – EVP's Mark and Daniel share some notes_ { Read notes }

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