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Rabo Community Fund cheque presentation to ‘Are You Bogged Mate’.
Image Credit: Rabobank

Funding roundup October 11 – October 15: FrankieOne secures $20m, GovConnex raises $1m to organise government data and Rabobank launches Australia-first rural community fund

Dynamic Business brings you the key start-up fundraising rounds from this week:

Reejig announces $6 million funding 

 Reejig, a workforce intelligence platform that employs audited ethical AI to enable enterprise businesses to make smart and informed talent decisions, has announced a $6 million Series A capital deal. 

Skip Capital, run by Kim Jackson and her husband, Atlassian co-founder Scott Farquhar, led the investment, with participation from Airtree Ventures, Didier Elzinga and Greta Bradman, and Right Click Capital, an existing Reejig investor. The funding follows the company’s initial seed round of $2.2 million in 2020.

The Reejig platform, founded in 2019 by Siobhan Savage, Mike Reed, and Dr Shujia Zhang, addresses some of the most difficult HR concerns, such as hiring, retaining, and reskilling employees – with the goal of achieving zero wasted potential in people and businesses. 

By combining data from existing enterprise HR systems (ATS, HR, and LMS) and publicly available sources, the platform leverages AI to provide organisations with complete awareness of the capabilities inside their workforce and the marketplace.

FrankieOne closes $20 million Series A

 FrankieOne, an identity and fraud prevention platform, said that it has closed a star-studded $20 million Series A round to enable its international expansion. 

The round was led by Australian venture capital heavyweights AirTree Ventures and Greycroft, a US-based VC firm that has previously invested in Bumble, HuffPost, and Venmo. In addition to Harry Stebbings’ UK-based 20VC, Reinventure, Tidal Ventures, APEX Capital, and Mantis VC competed to join the round.

Several celebrity investors, including international music sensations The Chainsmokers, Robinhood Founder and CEO Vlad Tenev, Monzo Founder Tom Blomfield, and senior executives from Revolut and Public.com, have joined the mix in an Australian first.

GovConnex raises $1 million for expansion

GovConnex, a political intelligence and relationship management platform, has completed a $1 million funding round sponsored by new Australian venture capital firm Black Nova. 

The new funding will allow GovConnex to scale its platform and organise all of Australia’s government data. Following early success in the government relations space, the demand for a solution like GovConnex has grown as access to government information and the ability to easily manage risk has become a must-have for unions, industry associations, nonprofits, government relations teams, and public affairs teams.

BuildAi has announced a $1.9 million seed funding round

 BuildAi, an AI-powered construction management platform, has raised $1.9 million in its newest seed round, led by a slew of high-profile construction participants and investors, as the sector scrambles to find viable answers to COVID-19 lockdowns. 

Marr Contracting, Total Constructions, Galileo Ventures, Markus Preston (CEO The Preston Group), Angus Kennard (Kennards Hire), Stuart Ford (Ex MD Ford Civil), and several other angel investors have all contributed to the round, with the hope that predictive outcome technology will be the key to getting construction sites back on track safely. 

Rabobank launches Australia-first rural community fund

Rabobank, an agribusiness banking specialist, has launched a fund to invest in the long-term viability and vibrancy of rural communities in Australia. 

The Rabo Community Fund, Australia’s first of its kind, is based on the international Rabo Foundation, the global agricultural banking cooperative’s social fund. 

The Rabo Community Fund, which is funded by an annual contribution from Rabobank Australia & New Zealand, has launched with an initial $2 million, which is being invested in a variety of initiatives to benefit rural and regional communities across Australia and New Zealand identified by the bank’s local Client Councils.

Australian Ethical launches High Conviction Domestic Equities Fund for wholesale investors

 Australian Ethical, Australia’s investment and super fund manager, has introduced a new actively-managed High Conviction Fund for wholesale clients to supplement its current Australian Shares and Emerging Companies Funds. 

The Fund seeks long-term capital development and income by focusing on a concentrated portfolio of 20 to 35 Australian and New Zealand companies, mostly from the S&P/ASX 300, that meet the Australian Ethical Charter’s social, environmental, and financial credentials.

 It aims to invest in mid- and large-cap companies with leading market positions, and offer exposure to forward-looking industries like renewables, healthcare, communications, and information technology.

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Yajush Gupta

Yajush Gupta

Yajush is a journalist at Dynamic Business. He previously worked with Reuters as a business correspondent and holds a postgrad degree in print journalism.

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