Australian technology firms attracted $181 million in investment capital this week, led by medical AI scaleup Heidi Health’s $98 million Series B funding round.
Heidi Health secures $98 million Series B
Melbourne scaleup Heidi Health has attracted US$65 million (A$98m) in a Series B round, arriving just seven months after securing nearly $27 million in a Series A extension.
New York hedge fund manager Steven A. Cohen’s investment arm, Point72 Private Investments, spearheaded the round, joined by continuing supporters including Australian VC Blackbird, plus US investors Headline and Latitude (the growth fund of Phoenix Court).
The funding values Heidi at US$465 million (A$704m), representing more than 450% growth from May’s US$100 million valuation, following US$96.6 million in total venture investment into the AI-powered medical documentation platform.
Octopus Deploy secures another $45 million injection
Enterprise software scaleup Octopus Deploy, which self-funded for 11 years before a $220 million capital raise in 2021, has secured US$30 million (A$45m) in additional funding from its sole investor, New York VC firm Insight Partners.
The capital arrives eight months following the Brisbane company’s $43 million purchase of US competitor Codefresh.
The investment from Insight pushed the company’s worth up US$80 million to A$883 million, positioning it amongst the largest privately owned businesses in the DevOps ecosystem.
Platform engineering teams rely on Octopus Deploy for continuous integration/delivery (CI/CD), and this month the company introduced the Octopus MCP Server, which integrates with source control, CI and cloud MCP (Model Context Protocol) tools, facilitating agentic workflows throughout DevOps ecosystems.
Following a decade of profitability and self-funding since husband and wife duo Sonia and Paul Stovell established the business in 2012, the company has prioritised accelerated expansion since attracting US$172.5 million (A$222m) four years ago.
Nexl secures $35 million Series B
Sydney legal practice collaboration and CRM platform Nexl has attracted US$23 million (A$35m) in a Series B round.
Dave Yuan’s US growth equity firm Tidemark Capital spearheaded the investment.
Philipp Thurner, previously head of innovation at Gilbert and Tobin and currently based in New York, established Nexl in 2018, shifting direction in 2021 to enable law firms to coordinate across marketing, business development and operations to boost revenue, enhance profitability and strengthen service delivery plus client relationships.
The AI-powered growth platform transforms the commercial side of legal practice, connecting front-office functions for customer relationship management (CRM).
Nakatomi secures $3.5 million to launch the next gen of Australian start-ups
Supported by founders from Leonardo.ai, Gannet Capital, Scalare Partners, Booking.com and private equity veteran Les Fallick, Nakatomi targets launching three to four new ventures annually.
Nakatomi, a Sydney-based firm that supports and creates new ventures with founders and corporates from the ground up, has secured $3.5 million in investment to accelerate its venture-creation model. The approach offers founders an alternative pathway to launch new businesses, whilst helping corporates counter disruption by staying ahead of competitors.
Nakatomi has already created and introduced several successful start-ups, including Australia’s first women’s health AI partner, Ovum, which recently attracted $1.7 million to address the gender health gap, plus Ruminati, an agricultural ESG platform enabling the entire supply chain to track and minimise environmental impact.
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