APE Mobile, an established Australian software company that has developed an innovative paperless site app for the Construction, Mining and Oil & Gas industries to enable greater efficiency in managing on-site documents on iPads and web devices, is pleased to announce the raising of $2 million in a series A funding round led by Jolimont Global and Viburnum Funds.
Jolimont Global Mining Systems is a joint venture investment fund between Jolimont Capital and Resource Capital Funds. Viburnum Funds is an Australasian focussed mid-market private equity investment manager with extensive experience in mining and oilfield services investment.
APE Mobile was initially looking for $1.5 million and got access to $2 million, more than originally anticipated. The funds will be used for further product development and to drive growth. Launched in January 2014, the company allows contractors to manage a number of different paperless forms on site (including productivity reports, toolbox meetings, site drawings) on iPads and web devices instead of using paperwork, via a seamless, secure and fast app.
No other platform of this kind is available for construction and engineering contractors, who can benefit significantly from savings of up to two hours a day for each user. The technology can be used even when there is no internet connection. APE Mobile has enjoyed rapid adoption, with Monthly Revenue Growth of 20% in its first year since launch.
APE Mobile aims to continue to establish itself as the dominant paperless site app in its field in the national and overseas market.
Matthew Edwards, Founder and CEO of APE Mobile commented:
“We are extremely pleased with this funding and to have incredibly experienced investors backing our technology.
“Since our launch last year we had an amazing response from large enterprises and small contractors alike, with customers so far including Iluka Resources, Calibre Global and Tasman Civil. There’s a massive opportunity for us out there, with the construction and engineering market having over 1 million employees in Australia.
“The raising provides us with further financial security and underpins our plans to expand on the East coast of Australia and overseas. We’re thrilled to continue helping increase efficiencies for our customers in the Construction, Mining and Oil & Gas sectors with our essential productivity tools.”
Lex McArthur, Managing Partner of Jolimont Global noted:
“We are excited by the scalable nature of the business and the customer traction that APE Mobile has gained already. Its proprietary cloud platform provides a multitude of pathways for APE Mobile to enhance and expand its business.”
Marshall Allen, Managing Director of Viburnum Funds then added:
“We believe APE Mobile has solutions that are attractively priced, easy to implement, and fundamentally, fulfil important needs for completing site tasks in the most efficient manner.”
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