Cloud based people management and data analytics platform intelliHR has today finalised a pre-IPO capital raising of $4M from institutional and sophisticated investors. The capital raising was managed by Morgans Financial Limited and will fund intelliHR’s expansion and further innovation, along with its preparations for an IPO on the ASX.
intelliHR founder and Managing Director, Robert Bromage, said that the Board was very pleased with the strong level of demand.
“We are excited to have received demand of almost double the size of the raising originally proposed, demonstrating the strong investor interest in our world-class technology platform,” Mr Bromage said.
“AI and analytics has earned its place as a mega trend currently being experienced by businesses around the world. The intelliHR platform combines the automation of HR processes with data analytics to offer clients high-quality real-time information, along with enhanced productivity and savings on human capital.”
“We are at the very beginning of a major phase of growth and I think investors are recognizing the early opportunity to gain exposure and participate in the data analytics megatrend and the strategic investment we’ve made in our platform.”
“I’m really pleased to be able to give all of our investors the opportunity to be part of our continued success. We plan to leverage the pre-IPO funding to further strengthen our sales and marketing capabilities and continue to develop and expand our world-first technology for the benefit of our clients,” Mr Bromage said.
intelliHR is led by a highly-experienced Board of industry leaders including Tony Bellas of Corporate Travel Management and ERM Power, Greg Baynton of Orbit Capital and Novonix, and Jamie Duffield founding partner of Revolution IT.
Chairman, Tony Bellas, said that the Board was looking forward to accelerating to the next stage in the IPO process.
“The strong response from pre-IPO investors has provided further confidence for our IPO plans”, Mr Bellas said.
“I’m confident that our implementation and expansion strategy will deliver outstanding results for both our investors and our clients.”