Rosterfy raises $9.8m from VC Bailador
Founded in Geelong by Bennett Merriman, Shannan Gove and Chris Grant in 2015 , Rosterfy raised $2m in 2019 and a further $4m in 2021 at a $30m valuation hitting a $3.3m with 100 Customers, and a team of 23, with 7 engineers.
Rosterfy , 2 years on has raised $9.8m from Bailador – an ASX listed VC,
So – what does Rosterfy do?
Rosterfy manages more than 1.5 million volunteers in more than 20 countries, providing volunteer and workforce management software to not-for-profits such as Lifeline Australia and St Vincent de Paul Society, and was used to manage volunteers during the 2022 FIFA World Cup in Qatar and the 2023 Super Bowl in Arizona.
The SaaS platform allows organisations to recruit, screen, train, and schedule their volunteers better engage and retain them. Their mission to connect communities to events and causes they are passionate about.”
Bennett Merrrman tells Sentinel that they are excited to leverage Bailador’s experience in successfully scaling Australian-born SaaS businesses globally and welcome both David Kirk and Michael Hayes to the Rosterfy board.
“This is the start of the next exciting chapter of our growth and timely acknowledgement that our global team and platform are making a real impact.”
So, who is Bailador and what is their take on the VC market
Bailador has positions in eight companies after e-furniture company Brosa was wound up in December.
Michael Hayes, investment director at Bailador points out to tech reporter of the AFR Tess Bennett that Investors are saying ‘no’ to high valuations and that the appetite for growth at all costs had ended .
The latest Cut Through Venture figures show that of 82 deals, only $661 million was raised in the first three months of 2023, compared with $1.8 billion in the final quarter of 2022.
“Companies needed to demonstrate they have a path to profitability, with strong fundamentals and unit economics so they’ll scale to profitability over time,” says Hayes
We will support these companies – and have recently invested an additional $10 million into existing portfolio company InstantScript, a digital healthcare platform, to took its holding to 30%.