Crowdfunding helps expand safety technology start-up

Tuesday, 20 October, 2015

Safety software start-up CriticalArc has received nearly $1 million in equity-based crowdfunding through VentureCrowd.

Founded in 2011 and based in Wollongong, NSW, CriticalArc designed and developed SafeZone, a cloud service app that delivers distributed command and control to security coordinators and real-time situational awareness to responders in the field.

The open security system provides a complete situational view by sharing location and operational intelligence from mobile devices to a control room. The safety technology solution is currently used by organisations, such as universities, from around 70 locations in the Asia Pacific, UK, Europe and Middle East.

Eleven investors now have an 8.3% stake in CriticalArc, putting the value of the company at around $12 million.

“VentureCrowd has been operating for more than a year now, providing start-ups with the crucial capital they need to grow and thrive, and CriticalArc is yet another great example of that,” said Rob Nankivell, VentureCrowd CEO.

VentureCrowd now has eight successfully completed equity crowdfunding capital raises with a further three start-ups ready to launch on the platform over the next few weeks.

The founder of VentureCrowd, Jeremy Colless, said equity crowdfunding is a critical component required to turbocharge Australian innovation and job growth, and hopes to continue to enable the availability of high growth potential opportunities to all Australians, not just the wealthy.

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