Investment and market research services provider, NetworksX, has landed $610,000 in seed capital
Melbourne-based Pitch Venture Capital and European investors led the round.
The new money will expand the company’s business to provide deeper and faster research services, increase automation and broaden its offerings to investors.
NetworksX conducts in-depth analysis of markets with the help of industry experts and acts as a marketplace for knowledge and insights.
Institutional investors, from superfunds to venture capital, private equity and hedge funds regularly need quantitative insights into their investment opportunities, areas of interest or portfolio companies, said NetworksX founder Tobias Raper.
The analytics platform’s technology and research methodology breaks down value chains and doesn’t seek industry experts for insights available on the Internet or in secondary market research reports. It provides a compliance framework for the two sides to engage and share perspectives through short consultations.
Raper said 2022 was a great first year for the company.
“In 12 months, our market, both nationally and internationally, has shown us that our offering is both attractive and essential to their processes. a number of areas.” he said.
“Customer requirements are very diverse, they may be looking for an expert with in-depth knowledge of the geology of a specific oil field, a reseller of technology in financial services, a doctor, a customer of a particular service or someone with unique knowledge of a particular event.”
Raper said NetworksX’s technology has reduced the cost of delivering detailed business insights, which were traditionally priced so only larger companies could afford the reports
“Our technology automates much of the administrative work, which means we can democratize access,” he said.
NetworksX has customers across Australia, the US and Europe. They have posted more than 850 requests for in-depth market and technical insights.