Bailador tops up volunteer management startup Rosterfy with $3 million

ASX-listed venture capital fund Bailador Technology Investments Limited (ASX:BTI) has increased its stake in people management software platform Rosterfy, investing an additional $3 million.

Rosterfy provides volunteer and workforce management software to not-for-profit (NFP) organisations, government volunteering bodies and mass-scale events.The SaaS platform allows organisations to recruit, screen, train, and schedule their volunteers better engage and retain them. In the 18 months since Bailador backed Rosterfy with $9.8 million in April last year, the platform has doubled its users to 3 million, incuding the 2023 FIFA World Cup in Qatar, and US Superbowl, with the countries it operates in growing by 75% to 35.

Rosterfy was founded in 2015 by Bennett Merriman, Shannan Gove, and Chris Grant, who saw first-hand the challenge of managing volunteers while running an events management business. Local NFPs such as Lifeline Australia. OzHarvest and the St Vincent de Paul Society are among its clients

The fresh capital has resulted in a 14% ($1.7m) uplift to the valuation of the VC’s existing $12.4m investment to $17.1m

Bailador cofounder David Kirk said Rosterfy’s revenue continues to grow rapidly and the business has now powered over 100m volunteer hours

“Rosterfy continues to perform well, growing rapidly and signing up new clients around the world,” he said.

“This additional funding will help the company expand their global go-to-market teams, and further accelerate their product roadmap to extend their product leadership.”

Bennett Merriman, Rostery’s CEO, said: “We’ve enjoyed our partnership with Bailador over the last 18 months since their initial investment, and we’re thrilled that they are continuing to support our future growth ambitions.”

Bailador’s share price is up 4% today, with the shareprice now up by 7.8% over the past month to sit at $1.25 in lunchtime trade.

The VC’s other recent investments include a slice of a $17.3 million Series A for f itness software startup Hapana, leading a $22 million raise for fintech Dash Technology and a whopping $20 million for telehealth platform Updoc.