Phocas Software Raises AU$45M in Funding

Phocas Software

Phocas Software, a Sidney, Australia-based global data analytics software company, raised AU$45m (US$34m) in funding.

The round was led by Ellerston Capital with a AU$35m (US$27m) equity investment, with participation from OneVentures, which provided an additional AU$10m (US$7m) equity financing. In conjunction with the funding, Toni Korsanos, an Investment Director of Ellerston JAADE, joined the board of Phocas.

The company’s cloud data analytics application plugs into enterprise ERP systems and multiple other data sources and has over 20 global ERP partners, including U.S. giant Epicor. The technology allows people across a company to collate and understand the key numbers critical to their work.

The company intends to use the funds to accelerate its growth in America and the United Kingdom, expand into new industries and develop its core products.

Co-founded by Myles Glashier in 2001, who continues as the global CEO, Phocas is a cloud-based data analytics Software-as-a-Service (SaaS) company with operations in the US, Australia and the UK. The business employs 200 people and has more than 1,900 mid-market customers, including Karcher, Burson Automotive, Repco, Henry Schein, Thermo Fisher Scientific and Fiskars Royal Doulton in Australia. Litex Industries, American Metals Supply, Dixie Plywood and Equipment Controls Company in the U.S. And Ruroc, Bayliss and Harding, Savona, Midfix and Wessex Packaging in the UK.