Global from Day One is a cross-border technology fund with the majority of capital to be invested in New Zealand and Taiwanese startups
Spotlight Reporting CEO and Founder Richard Francis
Spotlight Reporting, a Wellington-based cloud software company, has secured US$5 million in Series A funding from investors such as Global from Day One (GD1) — a VC fund formed by Auckland-based Sparkbox Ventures and Taipei-based VC firm Pinehurst Advisors.
Former Xero Director Graham Shaw, Vend Director David Wilson, MYOB Co-founder and Xero Director Craig Winkler also participated.
“Spotlight Reporting continues to go from strength to strength, so raising smart capital allows us to maintain momentum and open up new opportunities in line with our ambition to be a global leader in our space,” CEO and Founder Richard Francis said.
Also Read: Partners of Sparkbox, Pinehurst launch US$30M startup fund for NZ, Taiwan
Founded in 2010, Spotlight Reporting provides business intelligence reporting tools to accountants, advisors and business owners. Its tools import data from Xero, QuickBooks and other software products and create reports, forecasts and dashboards.
The company has offices in New Zealand, the US, the UK and Australia.
Founded in January this year, GD1 is a cross-border technology-focused fund with the majority of capital to be invested in New Zealand and Taiwanese startups with a focus on the US and Asian markets.
In May this year GD1 raised NZ$38 million (US$26 million) towards its second fund.
This is GD1’s second investment since launch. Earlier, it has invested in another New Zealand company called Qotient. The fund is expected to invest in around 20 companies in the areas of software, Internet and smart devices or ‘lean hardware’ in New Zealand and Taiwan.
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