Investment and market research services provider, NetworksX, has landed $610,000 in the Seed capital
Melbourne-based Pitch Venture Capital and European investors led the round.
The fresh cash will expand the company’s operations to provide deeper and faster research services, increase automation, and broaden its offering to investors.
NetworksX does deep-dive analysis of markets using industry experts, acting as a knowledge and insights marketplace.
Institutional investors, from super funds to venture capital, private equity and hedge funds regularly need quantitative insights into their investment opportunities, interest areas, or portfolio companies, NetworksX founder Tobias Raper said.
The analytics platform’s tech and research methodology breaks down value chains and seeks industry experts for insights not available on the internet or in secondary market research reports. It offers a compliance framework for the two parties to engage and share perspectives through short consultations.
Raper said 2022 was a great first year for the business.
“In 12 months, our market, both domestically and internationally, has shown us that our offering is both attractive and essential to their processes, and this has allowed us to have the confidence to go out and raise capital so as to expand the business in a number of areas.” he said.
“Client requirements are highly diverse, they could be looking for an expert with deep knowledge about the geology of a specific oil field, a reseller of technology in the financial services space, a doctor, a customer of a particular service, or someone with unique knowledge of a particular event.”
Raper said that NetworksX’s tech has reduced cost of supplying detailed company insights, which were traditionally priced so only larger firms could afford the reports
“Our tech automates much of the admin work meaning we can democratise access,” he said.
NetworksX has clients across Australia, the US, and Europe. They have placed more than 850 requests for deep market and technical insights.