Avard created a cloud-based software-as-a-provider platform that helps back initiatives on time and budget, by tracking performance metrics, as well as asset and undertaking management and offering a portal to easily search and apply for authorities grants.
After three years, SurePact is going so well that it has legal closed a $2 million capital raise led by endeavor capital fund Future Now, which backs companies related to the Microsoft product ecosystem.
SurePact employs 9 chubby-time and three part-time staff and is being traditional by 16 per cent of the Queensland local authorities market.
However, Avard, who has four sons aged between 15 and 23, describes the experiencing of quitting her stable job to develop into a founder as being cherish “leaping off a cliff without a parachute”.
She initially made up our minds to present the industry a year and glance the way it went.
“It was petrifying. My eldest [son] was handiest 20 and he understanding I was having a mid-existence disaster,” she says.
“He said ‘can you legal grab another horse and achieve extra horse utilizing’? We had two teenagers in highschool, two in uni, a mortgage and we were going back to at least one profits.
“Your career possibilities also aren’t what they are at 30. So I had mixed emotions, but pleasure.”
While undertaking the Startup Onramp program, Avard says she “studied my butt off” and came out of the 12 weeks with the solid foundations of a industry.
At each step of the way she says she “delivered extra than it required” – establishing the contacts she would deserve to know and speaking to a lawyer whereas they were learning about the legal structures necessary to start your bask in industry.
“Every undertaking you hear of blows out in designate and scope and with SurePact, they track underneath,” says Avard. “You have a variety of stakeholders on one platform and it presents chubby transparency.
“One client of ours has a $4 million airport upgrade undertaking. When they establish it in the machine, it asks them about explicit dangers and our algorithms track it and ratings these dangers… as they transfer by the [project] phases, every person receives trigger warnings of tasks to entire.”
Future Now managing director Chris Lee says he became related with Avard after being referred from one in all its varied portfolio companies, JESI.
“She has built a really noteworthy product for the market, in particular for local authorities, where 78 per cent of organisations are amassed on spreadsheets,” Lee says.
“Megan was very self-aware that at some level she would deserve to bring on a strategic capital partner and we’re well-placed to lend a hand her expand and leverage that Microsoft relationship.”
The investment comes a year ahead of schedule for Avard, who had residing out in her strategic plan that she wanted to bring on an investor by 2022, regardless of it being pushed back six months attributable to the COVID-19 pandemic.
The funds will travel toward scaling the company by hiring extra staff and entering unusual sectors.
“I don’t want to be stretched so skinny that it becomes a negative. I was writing my bask in place description no longer too long ago and I understanding ‘oh my god, this person is so busy’,” Avard says.