Gold Coast tech firm gears up for north American assault
Gold Coast tech company CartonCloud has raised $12 million to bulk up its staff numbers and expand into the north American market.
CartonCloud chief operating officer Shaun Hagen and founder Vincent Fletcher
The company’s software-as-a-service technology is for the warehousing, transport and logistics sectors and it already has 350 customers across Australia and New Zealand.
However, the company said there had been significant interest from other markets in the past 18 months.
The funding, from MA Financial, was the first time CartonCloud has taken backing from an institution.
Chief executive and founder Vincent Fletcher said the funding was a significant milestone for the 10-year-old company which was started in Sydney’s western suburbs.
“We now have the ability to significantly increase our headcount, fast track development to roll our new features and expand to north America,” he said.
“Entering the massive US logistics industry and building a new team there opens up extraordinary opportunities for CartonCloud to secure new customers, build new industry partnerships and continue to improve our product for all of our global customers.”
The first expansion office was expected to be in Vancouver and will be headed up by Shaun Hagen, the company’s current chief operating officer.
