Business and finance streaming service ausbiz has taken on its first venture capital, with Brisbane’s Sprint Ventures backing the two-year-old startup.
Sprint joins a recent round with the capital earmarked towards the development of a new video platform, creating smarter ways for ausbiz subscribers to connect with investment information, ideas and opportunities.
Launched just as the pandemic hit in March 2020, Sydney-based ausbiz streams 8 hours of live news and information about business, finance and startups every weekday, including the 40-minute Startup Daily show at 2pm.
It is available online at ausbiz.com.au, as well as on the ausbiz app on iOS and on partner platforms Flash, Samsung TV Plus, 7Plus, Iress and Adviser Ratings.
Founder and managing director Kylie Merritt said the capital injection comes as the media startup also builds out its team.
“It’s a privilege to join Sprint’s impressive portfolio of investments and be able to leverage the team’s experience across the technology sector,” she said.
“I’m excited to work with Sprint and our other partners to build something of real value for Australian investors.”
Two years on, the venture is approaching 70,000 subscribers. Sprint founder and managing partner Llew Jury said he sees ausbiz rewriting the rules on Australia media for the digital age.
“We believe in the team ausbiz has built and in the potential for the platform to serve even more of the business and investor market,” he said.
“The traction the ausbiz platform has secured and its deepening trust across the business community is a key driver behind our investment. ausbiz’s new platform creates opportunities for fresh interaction and will enrich the investor economy.”
Alongside the capital injection tech veteran Ben Haylock has signed on as Head of Product.
Haylock has more than two decades of experience with a focus on video and streaming technology companies including Telstra, beIN Media Group, Dolby and MBC (Dubai).
“There is nothing more rewarding than developing a technology solution when you can clearly see the opportunity exists,” he said.
“I’m really looking forward to the challenge of connecting ausbiz’s network of content, commercial partners and investors in a truly unique way.”
The presenter team is also expanding with Kyle Rodda, most recently a market analyst with global trading platform, IG, joining David Koch, David Scutt, Andrew Geoghegan and ausbiz Head of Content, Nadine Blayney, at the desk.
Merritt said the company’s Series A+ raise is continuing.
- The Startup Daily show is a joint venture with ausbiz. Startup Daily’s parent company, Pinstripe Media, is owned by David Koch, chair of ausbiz.