Frontier Ventures Leads the AUD4.1m Series A Round Raised by Australian Online Consulting Marketplace Expert360
20 July 2015, Singapore
Frontier Ventures has led the oversubscribed AUD4.1m round raised by Australian consulting marketplace, Expert360 (https://expert360.com). The company will use the round proceeds to accelerate its disruption of the sleepy $350 billion global consulting industry. Our co-investors in the round included Australian technology fund rampersand, institutional investors, existing shareholders, and high net worth individuals such as former Macquarie Bank MD Allan Moss AO. Frontier Ventures Founder Dmitry Alimov will join the Company’s Board of Directors.
Since inception in 2013, Expert360 has become Australia’s online market leader for online “micro-consulting”, with more than 4,500 independent consultants available from around the world. From an initial small team in Sydney, Expert360 now has 15 full-time employees across Australia and South East Asia
Frontier Ventures Founder, Dmitry Alimov, said: “Expert360 is a leading marketplace for online consulting services with potential to disrupt a massive global industry. It breaks apart traditional consulting methodology by using the power of technology, global connectivity and individual expertise to provide superior client solutions. We are very impressed by the company’s team, its speed of execution, product quality, and outstanding growth trajectory. We know online service marketplaces and we're excited to back this one. Our goal is to help Bridget, Emily and the Expert360 team take this business to a new level.”
Expert360’s model is truly disruptive in how it is connecting the world's top consultants with the world's most interesting companies, bypassing corporate overheads associated with a traditional consulting firms. While freelancing platforms have transformed other industries (e.g. coding, design, transport, logistics) this is the first time the world's top business minds have come together on a single platform, giving every company, from large corporates to ambitious SMEs or individuals, the ability to engage top consultants for as little as $1000, and for consultants to get appropriately and directly rewarded for their work.
Bridget Loudon, CEO and co-founder of Expert360, says: “Our vision is simple; It’s about harnessing technology to connect clients and their projects with great consultants, anywhere, anytime and in a way that delivers outstanding value for both parties. We're extremely excited to have a great set of investors on board to help us take Expert360 to the next level. Our lead investor, Frontier Ventures, bring a wealth of global marketplace expertise that will be very valuable. We look forward to working with them.”
Expert360’s cofounder and COO, Emily Yue, says the newly raised capital will see Expert360 expand its support for consultants through access to research, data and other IP which help make them more powerful consultants. She says the money will also be used to expand their Enterprise services offering so that executives in larger organisations can get instant access to a pool of consulting talent and support from a dedicated project manager in scoping up the work.
This investment marks the 10th online marketplace in Frontier Ventures’ portfolio and the fund’s second deal in the APAC region.
Founded in July 2013, Expert360 https://expert360.com/ is a global digital platform that provides businesses with access to the best and brightest independent consultants. Expert360 has unbundled traditional consulting and put it on a world-class platform giving companies access to high quality talent, flexibility in how they engage them, and at a price that delivers good value. It has grown to over 4,500 top consultants across the world. Clients include large corporates, investment firms, consulting firms, SMEs, entrepreneurs and freelance individuals who have discovered how to capitalise upon this rich talent pool.
About Frontier Ventures
Frontier Ventures (www.frontier.ventures) is a venture fund focused on Internet investments in global emerging markets, with a main focus on consumer Internet services in South East Asia and Russia. Frontier Ventures is an investor in several leading businesses, including the Australian consulting services marketplace Expert360, Asia’s leading restaurant reservation platform Chope, Russia’s leading online video company ivi.ru, and profi.ru - the largest online marketplace business in Russia and CIS. Founded by serial entrepreneurs, Frontier Ventures aims to partner with strong entrepreneurs to build market-leading businesses.
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