ASX-listed venture capital fund Bailador Technology Investments Limited (ASX:BTI) has tipped $9.8m investment into people management software platform Rosterfy.
The investment marks a return to backing startups for Bailador, which last year declined to invest in any new startups. Last month the VC tipped an additional $10 million into existing portfolio company InstantScript, a digital healthcare platform, to took its holding to 30%.
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. The platform is now used to manage more than 1.5 million volunteers in 20+ countries.
Recent uses include the FIFA World Cup in Qatar, the 2023 Superbowl in Arizona, and the Commonwealth Games 2022. The software is also used by NFPs such as Lifeline Australia and the St Vincent de Paul Society, as well as the British Heart Foundation.
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. The business saw recurring revenue more than double in 2022 as the NFP sector embraces digitisation.
Bailador cofounder and managing partner David Kirk said that Rosterfy solves historically common pain points in volunteer management.
“Having worked with multiple NFP organisations myself, I recognise the important role that volunteers play in enabling NFPs to deliver on their mission, as well as the challenge of being able to hire, schedule and retain those volunteers,” he said.
“The Rosterfy team have developed a market-leading volunteer management solution that has found strong product-market fit, which is evident in their strong growth rates and the quality of the customers they have acquired.
“We’re excited to be partnering with the Rosterfy team as they accelerate their global growth plans and continue to execute on their mission to connect communities to events and causes they are passionate about.”
Merriman, Rosterfy’s CEO, said Bailador’s backing will allow them to accelerate product innovation, and international expansion.
“We are excited to leverage Bailador’s experience in successfully scaling Australian-born SaaS businesses globally and welcome both David Kirk and Michael Hayes to the Rosterfy board,” he said.
“This is the start of the next exciting chapter of our growth and timely acknowledgement that our global team and platform are making a real impact.”
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