- Salter Brothers Tech Fund invests $4.9 million in veteran B2B software venture Marketboomer
- Marketboomer, founded in 1995, operates in 23 countries with a cloud-based procurement marketplace
- Investment to fuel growth in Australian market, expand in South East Asia and UK
- Salter Brothers Tech Fund takes 20% stake, aims for revenue diversification and global expansion
- Marketboomer CEO highlights collaborative synergies with Salter Brothers for significant growth opportunities
Salter Brothers Tech Fund Backs Veteran B2B Software Venture Marketboomer in $4.9 Million Raise
In a significant move within the tech investment landscape, the Salter Brothers Tech Fund has recently backed the veteran B2B software venture, Marketboomer, in a substantial $4.9 million funding round. This investment marks the second major move by the Melbourne-based fund manager, following their involvement in the $74 million takeover bid for small business lender Prospa earlier this year. The strategic investment in Marketboomer, a well-established player in the B2B software space, highlights the fund’s continued focus on supporting innovative and high-potential tech companies.
Marketboomer: A Mature Player in the B2B Software Space
Marketboomer, a seasoned player in the B2B software sector, was founded in 1995 and has since grown to establish a strong presence in 23 countries. With over 10,000 monthly buyers on its platform and 20,000 suppliers, Marketboomer operates a cloud-based online procurement marketplace that caters to a wide range of industries, including the global hotel sector. Notable clients such as IHG, Accor, Marriott, Capella, and Qantas rely on Marketboomer’s platform for streamlining their procurement processes and achieving significant cost savings.
The platform offers a comprehensive solution that enables organizations to efficiently manage and automate their purchasing, inventory, and invoicing operations. Marketboomer estimates that its platform can deliver cost savings of 7-12% on purchasing and operational expenses, making it a valuable asset for businesses looking to optimize their procurement processes. With a proven track record of success and a loyal customer base, Marketboomer stands out as a leader in the B2B software space.
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Strategic Investment and Growth Plans
The recent investment by the Salter Brothers Tech Fund and co-investors will see them acquire a 20% stake in Marketboomer, signaling a strong partnership between the two entities. The infusion of capital will be directed towards expanding Marketboomer’s presence in the Australian market, as well as facilitating further growth in South East Asia and the UK. Additionally, the funding will provide liquidity for existing investors while supporting the development of new resources and capabilities within the company.
Marketboomer’s CEO, Malcolm Jull, expressed enthusiasm about the collaboration with the Salter Brothers Tech Fund, highlighting the synergies that the partnership brings to the table. He emphasized the fund’s access to capital and international networks, coupled with Marketboomer’s advanced technological capabilities, as key drivers for the company’s future growth. By leveraging the Salter Brothers’ deep industry knowledge and global network, Marketboomer aims to capitalize on new opportunities and expand its market reach.
Gregg Taylor, the head of equities at Salter Brothers, underscored Marketboomer’s impressive growth trajectory and customer retention rate, citing the potential for accelerated expansion and increased global footprint. The infusion of growth capital from the fund will enable Marketboomer to ramp up its growth rate, expand its sales and customer success teams, and drive further innovation within the company. With a focus on global expansion and revenue diversification, Marketboomer is well-positioned to capitalize on emerging opportunities in the B2B software market.
The Salter Brothers Tech Fund: A Strategic Player in the Tech Investment Landscape
The Salter Brothers Tech Fund’s investment in Marketboomer reflects its strategic focus on supporting established and growing companies in the tech sector. As the fifth equities fund under the Salter Brothers umbrella, the tech fund targets high-potential tech companies with a track record of innovation and growth. With over $3 billion in group assets under management, the Salter Brothers Tech Fund brings a wealth of experience and resources to its portfolio companies, enabling them to achieve their full potential and drive sustainable growth.
The partnership between the Salter Brothers Tech Fund and Marketboomer marks a significant milestone in the B2B software space, underscoring the importance of strategic investments in driving innovation and growth. With a shared vision for expansion and market leadership, Marketboomer is poised to capitalize on new opportunities and solidify its position as a leading player in the global B2B software market. The collaboration between these two entities exemplifies the power of strategic partnerships in fueling success and driving long-term value creation in the tech industry.
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