While the dream for many local startups is to make it to America, the downside is that the Australian startup ecosystem loses out as knowledge and economic impact heads overseas. However, a few startups that have made inroads in other countries are starting to shift some of their focus back home again.
One such company is the Australian mobile marketing startup OtherLevels, which just has announced plans to open a new global development centre in Brisbane. Founded in 2012, the company already has offices in Melbourne and London, with headquarters in San Francisco.
As bigger companies have shifted their focus to mobile marketing campaigns and apps, OtherLevels has found its platform, which lets companies manage their interactions with customers via mobile devices, in high demand. The startup’s SaaS technology is being used by Sega, the Intercontinental Hotels Group, and Coles to help track user behaviour and tailor campaigns according to evolving data. OtherLevels had stated that it is tracking over 8 billion data points and messages per month.
Brendan O’Kane, founder of OtherLevels, said that the company has been evaluating the best route to generate breakout growth since the appointment of Ramsey Masri as OtherLevels’ global CEO last year.
“Australia was a clear choice for us in terms of where we can find the right technical talent to innovate and service our growing international client list, as well as explore options for capital raising,” O’Kane says.
Confidence in the Australian market is growing, with the company also considering an IPO on the ASX later on in the year, appointing Select Equities to help it consider capital raising options.
OtherLevels is just the latest on a growing list of companies said to be considering a local public offering in 2015, joining mobile payment platform Ingogo and ecommerce software startup BigCommerce.
Shark Tank judge and OtherLevels investor Steve Baxter believes the company is proof that high-growth Australian tech firms can work with multinational clients from all over the world.
“To see a high-growth global business born in Queensland transform how enterprises use mobile to interact with consumers is testament to the potential of our startup eco-system. It is hugely encouraging to see OtherLevels is investing in growing its team and looking to Australia as a potential source to fund future growth,” Baxter says.