Nextspace Chair Scott Gilmour has confirmed the successful completion of our Convertible Note to take us to our upcoming Series A.
Scott attributes the success of the raise:
With the majority of the raise sourced from existing investors, the close demonstrates confidence in ongoing progress made by Mark and the team, as well as our strategy to achieve an ambitious future vision.
Nextspace closed the majority of the note in January, with the remainder closing on 18 March.
Funds have already been applied to increase the company’s momentum with several hires taking our team to a new level of capability. Senior Developers have been engaged to connect Bruce to world-leading visualization platforms, we’ve added to our Solution Engineering team, and have begun to build the Partner enablement e-Learning programme that will enable us to scale.
CEO Mark Thomas captures the current momentum.
We’ve invested experience, time and capital to position ourselves for the accelerating demand for data interoperability and digital twins. Key technology has converged and governments and businesses have begun to understand the need and benefits. Now we have the funds to accelerate proof of our model. It’s all coming together.
The remainder of FY22 (ending 30 June) will see us onboard significant international partner teams, undertake some strategic direct customer projects, complete our go-to-market Partner enablement, training, and support systems. Our sales and marketing systems and resource can then align with this ability to onboard and retain significant client growth. And then we’ll be ready for our Series A.
As Mark Thomas remarked, it’s all coming together.