Sydney-based technology company Ansarada has raised $24 million in Series A funding to meet surging demand for its AI-powered ‘business readiness’ platform, accelerate the rollout of new products, and facilitate further global expansion.
Founded in 2005, Ansarada harnesses data as well as AI and machine learning tools to assist advisors and investors to identify prospects, raise their potential and nurture them through the preparation and execution of deals like debt and equity capital raising, refinancing and M&A.
To date, the company’s virtual data rooms have helped investors, advisors and corporates close over 20,000 deals worth over $2 trillion. In addition to counting the likes of Google, PwC and Deloitte amongst its clientele, Ansarada employs 200 staff across Sydney, Chicago, London, New York, Amsterdam, Frankfurt, Johannesburg, and Hong Kong.
Ellerston Capital, Tempus Partners, Belay Capital and Australian Ethical Investments led Ansarada’s Series A round, which saw hundreds of thousands of dollars in advisory fees donated to charity projects in Uganda and Nepal via Adara Partners. Ansarada has worked with Adara for years and has pledged one percent of its equity, time and product to support the group’s efforts to support vulnerable communities globally.
“We’re delighted to have some of the most experienced and reputable investors in Australia as backers in this funding round,” Ansarada co-founder and CEO, Sam Riley told Dynamic Business. “Their global expertise in helping develop high-growth businesses will be invaluable as we look to the next stage of our development, and continue disrupting the market we operate in.
“From our experience of over 20,000 deals, we saw that companies were simply not ready to seize opportunities that came along. We chose to invest heavily in developing AI and machine learning driven solutions to this problem, and in doing so completely disrupted the industry we operate in. The size of the capital raise, the reputation of those involved, and the interest displayed during the process demonstrates that our vision was the right one, and that our ability to execute on this is strong.”