UPDATED 00:21 EDT / JUNE 16 2015

NEWS

Trans-Tasman inventory management SaaS firm Unleashed Software raises $3.5m Series B

Inventory management software as a service (SaaS) developer Unleashed Software Pty. Ltd. has raised AU$4.5 million ($3.5 million) Series B in a round that included MYOB founder Craig Wrinkler.

Founded in 2009, the Trans-Tasman (Australia/ New Zealand) based company offers a SaaS platform that provides accurate inventory management  in real-time for the small, medium and enterprise market.

Unleashed partners and integrates with industry-leading companies that provide online accounting, point-of-sale and eCommerce software to deliver a complete business solution, and boasts customers in more than 80 countries.

“With the continued support of our stakeholders, we have spent the last 12 months rounding out our executive leadership team, improving our software to ensure customers have the features and functionality they need, and delivering a great support experience,” Chief Executive Officer of Unleashed Software Gareth Berry said in a statement sent to SiliconANGLE.

“The additional funds serve as a platform for growth for the 2016 fiscal year. Now it’s all about executing on our product roadmap, as well as our marketing, channel and influencer programs and campaigns. This will help us win further market share in Australia and New Zealand, and extend our reach to the United States and soon, the United Kingdom.”

Unleashed has recently expanded into the United States, having established its first office in San Francisco, complete with local hires.

Growing sector

The overall SaaS market continues to rapidly grow, with predictions that it will increase to a $50.8 billion market by 2018.

Inventory management may not be the most prominent or well-known part of the overall SaaS market, but within the overall picture it’s one that may have some of the highest growth potential, particularly within the SME (small to medium enterprise) market where inventory management may not have always been strongly managed, or done as an after thought through accounting platforms.

Particularly for a small business, Unleashed adds a professional layer on top of accounting software that delivers professional, dedicated inventory management while being compatible with those accounting packages; in Unleashed’s case it was awarded Xero add-on partner of the year in 2012.

Including the new round, Unleashed has raised $10.3 million to-date. Previous investors include Milford Asset Management, K1W1, and Lewis Holdings.


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