According to The Australian Financial Review, Australia’s hunt for the next Atlassian could be over after Brisbane-based couple Paul and Sonia Stovell closed a $US172.5 million ($221 million) investment from a New York venture capital fund, for their company Octopus Deploy, which has flown under the radar while capturing major global companies as customers.
Octopus is targeted at techies by techies. Its product would be incomprehensible to those outside its target market of software developers, who use it to automate the deployment of applications. It isn’t glamorous, but it speeds up tech development while making it less likely to go wrong.
It is the largest Australian VC funding round since Insight Partners led a $US250 million investment in Campaign Monitor in 2014, and the New York fund has put all of the money into this landmark Octopus round.
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