Home Strategy Expert360 raises $13 million in new capital to fund expansion

Expert360 raises $13 million in new capital to fund expansion

Sydney-headquartered global digital platform Expert360 has completed a $13 million capital raising led by AirTree Ventures.

Expert360 says the series B investment will enable it to carve out a “bigger slice of the $600 billion global consulting industry by offering a host of new features and functionality for both clients and consultants”.

The company also says the funds will assist in continued international expansion, with the latest capital raise bringing total funding to $21 million.

“Thousands of companies including Commonwealth Bank, BHP, Woolworths and Qantas rely on our platform to build high-performing teams on demand, deliver superior project outcomes and reduce costs at the same time,” said chief executive and co-founder Bridget Loudon.

“Expert360 has over 15,000 vetted professionals covering hundreds of capability areas. Clients are telling us that many of the best consultants are no longer sitting in firms, or looking to take full-time jobs. They’re on Expert360.”

Loudon said Expert360 had also welcomed AirTree Ventures co-founder Daniel Petre to its board. Petre served as managing director for Microsoft in Australia and has established three major technology investment companies in Australia, including AirTree Ventures, claimed as the country’s largest VC fund.

“Expert360 has hugely resonated with executives who have long sought a way to tap specialised skills for project work. Traditionally, this access has been costly, time-consuming or both. This company is going to redefine the consulting industry.” said Petre.

Existing investors include Frontier Ventures and former Macquarie chief Allan Moss.

According to Loudon, the average value of projects available on the Expert360 platform has also increased steadily, with projects now valued at up to $700,000 – and over the next year, Expert360 plans to bring additional functionality to the platform that allows businesses to easily work with individuals in their personal or professional network, manage their contingent and consulting workforce and streamline the team building process.

“Our vision from the start has been to bring people together seamlessly to do high quality work, by providing an intuitive, user-friendly platform.” says chief operating officer and co-founder Emily Yue.

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Peter Dinham

Peter Dinham is a co-founder of iTWire and a 35-year veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

 

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