Empiraa, a Melbourne, Australia-based business strategy platform, raised $518,000 for a $7.5M valuation.
"This seed round was significantly harder than our previous round, the
fact the market has shifted so much made it difficult to agree on terms
with VCs," said the startup's founder, Ash Brown, who shifted focus to
raising from high net worth individuals.
- "There
are some great businesses and startups out there that may not fit a
certain model or spreadsheet, so it doesn't get a look in from certain
VCs," Brown told Startup Daily.
- Empiraa recently released API integration capabilities for business metric tracking.
- The
company plans to expand to the U.S. after landing a client in the
transportation sector. Empiraa also plans to open an office in Colorado.
- The startup also sees potential locally in the 2.4 million small and medium-sized businesses in Australia.
- Empiraa previously raised a $110,000 pre-Seed round and $637,000 in December.
