LaunchVic’s latest 30×30 unicorn program blesses 11 scaleups with $1 billion potential
LaunchVic, has selected 11 new scaleups to be part of the ongoing 30X30 program, which helps fast-growing get their organisational ducks in a row on the path to unicorn status – a $1 billion+ valuation – by the end of the decade.
The Victorian government’s startup body developed the fully subsidised four-month program to connect key scaleup staff with mentors from tech unicorns such as Atlassian, Canva and SEEK to address common scaling challenges in HR, operations and finance.
30×30 was originally designed to support just 30 startups with the potential to reach a $1 billion by 2030, but its success has led to the program continuing with the fourth cohort taking the total to 39.
Since it launched in February 2022, the first 28 companies taking part have now raised $600 million in funding and expanded into global markets.
They include construction safety scaleup HammerTech, which last year raised $105 million. HammerTech was among the first Victorian startups selected in 2022 for 30×30 program.
The others included Carbar, which last week announced it was acquiring ASX-listed rival Carly for $3.8 million, infrastructure company Buildkite, which raised a $31m Series B the following year, healthtech Nutromics, “death tech” cremation startup Bare, internship marketplace InternMatch and luggage business July.
LaunchVic CEO Dr Kate Cornick said the 11 scaleups in cohort 4 span construction, healthcare, gaming, cyber security and hospitality.
“For this latest intake, the majority of referrals came directly from investors keen to support their portfolio companies, which we see as a significant vote of confidence from the sector,” she said.
The 11 new companies are:
- Affinda: AI document processing solutions for automating document-intensive workflows.
- Ausmed: A workforce capability platform for healthcare providers.
- BuildPass: The AI-powered operating system to run a construction site.
- Buildxact: An easy-to-use construction management and estimating software.
- EngageRM: Connecting sports and entertainment brands with their global partners and fans.
- Fresho: An order management platform helping fresh food wholesalers operate more efficiently and service their customers better.
- IMRA: Surgical education and demonstration solutions to help surgeons and industry adapt to evolving surgical environments.
- Mod.io: The leading white-label solution for the delivery of user generated content & mods, in game, on PC, Console, Mobile & VR.
- Redactive: Secures enterprise data in anticipation of how AI will interact with it, so you can unlock AI’s potential while delivering zero-compromise security.
- Typsy: A platform that delivers high-quality skills content, community, and tools to help hospitality professionals and organisations stand out and flourish.
- Zitcha: A single platform to unify, scale, and optimise Retail Media Networks.
Video games platform mod.io, previously raised $35 million in a Series A in 2021 led by Chinese giant Tencent.
They’re now at 15 million monthly active users, growing by more than 55% growth year-on-year, and has signed with SEGA, Larian Studios and Ubisoft.
CEO and cofounder Scott Reismanis said they feel fortunate and excited to be chosen for 30×30.
“Our past year has been marked by growth and adapting our organisation to tackle the challenges ahead of us; the insights we get from the program are incredibly valuable to help us make the best decisions for developing our business,” he said.
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