Viocorp secures $5m in funding from former Fairfax CEO David Kirk
Viocorp has announced a $5 million private investment from the Bailador Fund, established by former CEO of Fairfax David Kirk and Paul Wilson, an experienced private equity investor.
Bailador’s investment in Viocorp is the first to be made by the fund which was recently established by David Kirk and Paul Wilson. The investment will be used to support the continued rapid growth of Viocorp. The company plans to continue to invest in research and development to consolidate its position as industry leader in the Asia-Pacific region and to accelerate the take up of Asian and Australasia market opportunities.
Ian Gardiner, CEO, Viocorp, said the investment placed the company in a strong position moving in to 2011 and represented a milestone in the evolution of the business.
“We are delighted to have an investor that understands and supports the opportunity we have to grow our business as multi-platform video content management and broadcasting takes off. David and Paul’s industry insights and extensive networks will strengthen our company. We expect them to be active members of the Board”, said Mr. Gardiner.
Mr. Kirk said it was important for Bailador’s first investment to be a solid one, with Viocorp a very promising Sydney based SME with aggressive growth plans.
“This is Bailador’s first investment and it was important for us to get it right. We are very pleased to be investing alongside entrepreneurs who have created a great business. We are investing into a high growth market and with a company that has demonstrated product leadership and the ability to deliver world-class video content management and broadcast solutions. Viocorp has emerged as the industry leader in the Asia-Pacific region and we want to support the continued growth and consolidation of that position. We have followed the company for some time and Viocorp’s recent successes in providing an end-to-end enterprise level solution have convinced us now is the right time to invest.”
The investment caps off a year of strong gains for Viocorp, including expansion into the Asian broadcasting market with their solution for Malaysia’s Media Prima and the launch of Australia’s first mobile broadcasting device, liveBOX.