Venture Technology firm BlueChilli announced today that two of it’s investments Token One and Geepers have secured over $650,000 in angel funding. The round of funding was secured from Australian and international investors sought from the combined networks of BlueChilli and the startups.
The investors will join each respective companies in supporting the company with strategic partnerships and board mentorship, while the the startup’s managing team remain in control of operations. The funds will be used to expand the young team, accelerate product development beyond MVP and prepare the companies for international expansion and follow on Series A investment.
TokenOne is a unique and patent protected federated identity authentication platform that enables users to securely login to third party systems. For those that have ever worked in call centre environments or for Telco’s it completely disrupts the secure ID token tags market and replaces it with an individuals mobile phone. Coming from that industry one of the biggest issues I had managing teams for Telco’s were staff forgetting their ID Tokens and us having to find a “spare” which always brought up all kinds of security issues. I got to have a sneak peek at the product this week and I really believe it has the potential to make the current systems used in these environments redundant.
Geepers is a mobile enabled web application that provides a unique universal shortcode for physical geographic locations. Users can create accounts and save an address location against the account.
Premium users can create sub-locations and associate a current physical location with the keyword now. Read more about it here.
“The angel funding was closed within just 6 weeks which represents strong investor confidence in the founders and our business development process.” Says BlueChilli CEO Sebastien Eckersley Maslin.
BlueChilli is investing in 100 startups by 2016 and has currently made 30 investments in to early stage and high growth online businesses. The companies now belong to a group of 8 BlueChilli investments to have raised angel funds, who collectively have raised a total of $3.8m.