Elladex plans up to AUD 5.8m fundraising for Australia, international growth

Breaking News 2 March

Elladex plans up to AUD 5.8m fundraising for Australia, international growth

Elladex, a privately held Australian education technology company, is planning to raise up to AUD 5.8m (USD 3.9m) in the next 12 months for growth, founder Shivani Gopal said.

The Sydney-headquartered company, which operates a digital platform and mobile application that connects women in a professional and personal capacity, plans to raise the external capital in an AUD 800,000 seed round open at present, and a Series A round subsequently of up to AUD 5m, Gopal said.

The founder said a stake of 7.5% is on offer in the seed round, being run via Australian crowd funding platform VentureCrowd, giving the company a valuation at around AUD 10.7m. The stake on offer in the later “traditional” Series A round has not been determined, she added.

Investors could include VCs or impact investors, she said, adding that the company has retained UK-headquartered corporate advisor True Altitude.

The external capital will be deployed on marketing and technology development, said Gopal, also pointing to overseas expansion, probably to India and the US in 2024. Those overseas markets are being targeted, she said, because of their significant size and in the case of India, existing business connections there.

The company forecasts revenue of AUD 7.4m in FY25, according to Gopal. It employs 11, she said.

Notable corporate clients include coffee company Nespresso and the Red Cross, both Switzerland-based, and Australian financial services firm Latitude Financial, she said, adding that the company predicts around 27,000 app users within 18 months.

On rivals, Gopal said companies with some similarities were the likes of California, US-based LinkedIn Learning and UK-based AllBright, the career network for women.

Elladex, according to press material shared with Mergermarket, provides users with tailored “micro daily learning, networking and mentoring opportunities that are necessary to all professional women today”.

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