The Australian company behind software designed to power group buying sites has received a $US5 million investment from telco giant SingTel’s investment arm and Perth-based venture capital firm Yuuwa Capital.
Dealised, which was founded by start-up fund Pollenizer and a number of individual investors, has started rolling-out across the world and is powering a number of sites in Europe.
Originally designed for Spreets, the software’s founders have begun licensing the software.
Phil Morle from Pollenizer, who is on the board, says the funding will help the company expand globally and solidify relationships with media partners in Europe and Asia.
“It’s really our next stage of growth in the company,” Moore says. “We’re seeing a terrific opportunity with social commerce and that’s what we’re focused on with group-buying being the launch pad of that.
“We were terrifically successful with Spreets and we’ve expanded that globally by working with telcos and media companies.”
Morle says the company is more interested in Europe than the United States, pointing out that Dealised has some great partners.
The parties announced the investment last night and confirmed that Virgin Mobile chief operating officer Jonathan Marchbank will replace Adrian Vanzyl as the company’s chief executive. Moore saids Vanzyl will remain on the board.
No more financial details have been revealed about company but former Dealised chief executive Adrian Vanzyl told SmartCompany earlier this year that the start-up is achieving its revenue goals.
“With our platform and services, partners quickly create and manage regular offers for their customers, maintaining revenue and relationships at risk from Groupon-like clones,” Marchbank said yesterday. “We are busy repeating that successful formula in other markets.”
Some of Dealised’s customers include The Daily Telegraph in Britain, SweetDeal in Denmark and YourDeal in Sweden.
Marchbank pointed out that Dealised partners in Australia “have already beaten Groupon and Living Social in their local markets”, positioning the company as an ally for start-ups attempting to beat the two giants at their own game.
The market is ripe for Groupon clones, especially in Europe and Asia where many sites maintain strongholds in their domestic markets, making it harder for Groupon to complete its international expansion.
The software is designed to lower the already thin barriers to entry for group buying, with a spokesman saying that “a new Dealised partner can have a dedicated group-buying business running within weeks”.
Dealised expects to use the $US5 million to expand in Asia and Europe and help it to research its mobile solutions.
Patrick Stafford is a freelance journalist and a former deputy editor of SmartCompany.
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