Home Australia Go1 becomes latest Aussie unicorn, cracking $1b valuation

Go1 becomes latest Aussie unicorn, cracking $1b valuation

57
0
Go1 becomes latest Aussie unicorn, cracking $1b valuation

Based in a garage by high college company Andrew Barnes, Chris Eigeland, Chris Hood and Vu Tran, the commercial is now within the leagues of different Australian unicorns similar to SafetyCulture, Canva, Airwallex and SiteMinder.

All thru the onset of the COVID-19 disaster within the Western world, the commercial skilled a 500 per cent surge in usage in its first seven weeks, as employers panicked about learn how to upskill their workers while they worked remotely.

Early Newspaper

Go1 has more than 100,000 programs on its platform, along side from Harvard, Microsoft and Blinkist, having added 30,000 original programs within the past 12 months. Novel course suppliers to be half of Go1 within the past year include Coursera and EdX.

It’s some distance identified that the firm has doubled income year on year for the past 5 years. For a non-public firm to originate a unicorn valuation, in total it must possess hit, or be closing in on, $100 million in income yearly.

SPAC, IPO on cards

Whereas Go1 started off as a predominantly Australian commercial, 70 per cent of its original income is now generated in world markets take care of the US and Britain.

With so many programs on its platform, the firm has developed its algorithm to behave take care of Netflix, in instruct that programs are rapid to users in accordance to their profile, industry and old engagement with the platform.

Go1 added AirTree Ventures to its capital table closing year, when the conducting capital fund wrote for sure one of its greatest cheques of the year ($7 million) to come into the firm’s Series C spherical six months after it had closed.

The spherical used to be led by SEEK and US fund Madrona, while Microsoft’s M12 Ventures also participated, as did Our Innovation Fund and Salesforce Ventures.

It’s some distance identified the firm has already been approached by brokers as a candidate to undertake a list through a particular motive acquisition firm (SPAC), in addition to a conventional IPO.

Source:
Go1 becomes latest Aussie unicorn, cracking $1b valuation – The Australian Monetary Overview