Cloud-based Service Maestrano Secures Funding for Global Expansion
Maestrano, the Sydney based cloud business app startup, has reached their fundraising goal of $1.5 million this month. The total funds for the company now exceed $2.5 million, with the majority of the newly fundraised money being delegated to helping the company expand their business internationally. The US is the focus of the expansion.
The company completed their invitation-only supplementary funding round quickly; Maestrano itself is only a few months old, having been launched in late 2013. This announcement also follows news that the business is currently working on securing worldwide and US patents for Connec!, their product that integrates complex cloud applications from different vendors into one platform.
Since the company’s foundation, Maestrano has attracted over 1,300 business users, with a third of their impressive customer base in the US. Stephane Ibos shared with StartUp Smart that the company is excited for the next stage of development.
“Our innovative and patented integration layer, Connec!, is a game-changer for small and medium businesses worldwide and our current traction indicates a strong appetite for our solutions,” he says.
“The confidence of our investors is a great asset to support our global expansion.”
Big-name investors include Gary Jackson, Microsoft Australia CEO, Ian Buddery, eServGlobal founder and Maestrano’s chairman, and James Studniberg, Scythian Global Capital director.
“Maestrano’s genius in breaking the cloud silo model is exactly what the marketplace was missing,” Jackson says. “Most enterprise cloud solutions are priced beyond small business budgets; Maestrano is a fraction of the price of competitors and is the lowest cost provider. The tremendous opportunity I see for Maestrano is that they make moving to the cloud a reality for small to medium-sized businesses.”
Maestrano offers several businesses solutions via affordable apps for ERP, HR, tracking, sales, CMS, and more. The company markets its services to startups and small and medium businesses online.
Information sourced from Startup Smart.
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