Story image

UltraServe seeking $5m capital to fund international growth

17 Oct 17

UltraServe has launched a $5 million capital raising as it seeks to ramp up its international growth and increase its foothold in the United States and European markets.

The Sydney-based e-commerce platform-as-a-service provider launched into the United States last year, opening a Chicago office, before heading to the UK with the opening of a London office in August.

A privately-held company which is majority owned by technology entrepreneur Simon Hackett, UltraServe says it is seeing strong international growth and increasing client demand.

Matthew Hyland, UltraServe chief executive, says the funds will be used to further the company’s geographic expansion in Europe, to build out the United States operations and to accelerate product enhancements.

“We established the London office to meet European client demand, and we’re increasing our presence in the Chicago office ahead of the release of the next version of our SmartStack software, later this year,” Hyland says.

“International demand for our services is very strong as demonstrated by the number of new contracts signed with major global customers during the last 12 months, with about three-quarters of these new customers coming from the United States and now the European markets,” he says.

Hyland says the company’s sales pipeline is currently heavily weighted towards the United States market, which is producing more than 75% of UltraServe’s new customer opportunities.

“We’ve already seen strong interest from the European market despite only opening our office in the United Kingdom a few weeks ago,” he adds.

UltraServe works with vendors including SAP hybris, Adobe and Amazon Web Services to deliver offerings via a platform as a service model.

Hackett says UltraServe’s technology ‘turns a complicated, slow and error-prone manual deployment process for e-commerce participants into a smooth, automated, rapid and reliable experience’.

Hyland says to date the company’s growth has been achieved through self-funding, vai operating cash flows.

“By bringing in new capital, we can build on these foundations, accelerate our growth plans and grab the significant global market opportunity that we see in front of us.”

Hillstone CTO's 2019 security predictions
Hillstone Networks CTO Tim Liu shares what key developments could be expected in the areas of security compliance, cloud, security, AI and IoT.
Can it be trusted? Huawei’s founder speaks out
Ren Zhengfei spoke candidly in a recent media roundtable about security, 5G, his daughter’s detainment, the USA, and the West’s perception of Huawei.
Oracle Java Card update boosts security for IoT devices
"Java Card 3.1 is very significant to the Internet of Things, bringing interoperability, security and flexibility to a fast-growing market currently lacking high-security and flexible edge security solutions."
How SMBs can use data to drive business outcomes
With the right technology, companies can capture consumer, sales, and expense data, and use it to evaluate and construct future plans.
Survey shows that IoT is RoI across Asia Pacific
A recent Frost & Sullivan survey across Australia, Hong Kong and Singapore shows that IoT deployment improves business metrics by around 12%.
IDC: Aussie spending on IT Services to hit $23.5B by 2023
the project-oriented market which is predicted to achieve the highest CAGR through to 2023; though no market is expected to decline
Sophos hires ex-McAfee SVP Gavin Struther
After 16 years as the APAC senior vice president and president for McAfee, Struthers is now heading the APJ arm of Sophos.
Security platform provider Deep Instinct expands local presence
The company has made two A/NZ specific leadership hires and formed several partnerships with organisations in the region.