Victoria, Australia has produced its latest tech success story, which further validates the State’s digital tech and ICT sector, paving the way for an even stronger economy, more innovation and new local jobs.
As reported, the Victorian company attained the coveted “unicorn” status, with AU$ 1 billion valuation.
The company has come a long way from its humble beginnings in a Melbourne co-working space 10 years ago.
The home-grown data analytics and employee feedback company raised more than AU$ 121 million in a recent round of venture-capital funding.
The funding comes from the company’s expansion into the Asia-Pacific and Latin American markets, pushing its overall market value to AU$ 1.04 billion.
Headquartered in Melbourne’s tech hot-spot Cremorne, it employs 400 staff across Australia and around the world and counts more than 2,500 companies as customers.
The company is one of Australia’s fastest growing technology start-ups with offices in Melbourne, San Francisco, New York, and London.
Victoria’s thriving tech and ICT sector
The Andrews Labor Government is delivering for Victoria’s tech sector, establishing LaunchVic to nurture its start-up ecosystem and ensure tech companies are well positioned to achieve global scale.
Victoria is an acknowledged digital tech powerhouse having several billion-dollar operators in the state, now adding one more to its growing list of industry leaders.
Victoria’s tech and ICT sector employs more than 137,000 people across 19,300 businesses, generating AU $36.6 billion in annual revenue.
Minister for Jobs, Innovation and Trade Martin Pakula shared that it is no surprise that another Melbourne company has achieved unicorn status particularly with Victoria’s culture of innovation and status as tech capital of Australia.
He added that the company’s continuing commitment to Victoria is a clear indication that the State is the place to be when it comes to digital tech and innovation.
Ultra-rapid electric vehicle charging station
In other news, funding from the Victorian Government has allowed for the opening of a new electric vehicle fast charging station.
This new station will boost tourism and make it quicker and easier for drivers to explore Victoria’s Surf Coast.
Minister for Energy, Environment and Climate Change, Lily D’Ambrosio opened the new ultra-rapid charging station at the RACV’s Torquay resort.
Powered by 100% renewable energy, the charging station can fully charge an electric vehicle in under 15 minutes with a range of approximately 400km – the fastest of any charger in Australia.
The site includes two ultra-rapid (350KW) and two fast (50KW) chargers that can charge four electric vehicles at the same time.
The Minister explained that more of these charging stations will boost tourism, reduce carbon emissions and help build a cleaner, more sustainable future.
The State Government is leading the nation in the rollout of this world class technology, with AU$ 3 million to support seven electric vehicle charging stations across Victoria.
The Torquay site joins stations at Airport West, Euroa and Barnawartha North that are already open to the public and three more expected to open in regional Victoria by the end of the year.
Despite the growing electric vehicle market globally, sales in Australia are significantly lower with 2,216 electric cars sold in Australia last year, out of 1.1 million vehicle sales worldwide.
The State Government is helping the transport sector provide cleaner, more sustainable options and encouraging Victorians to be part of this transition.