Official: Oxygen Ventures Funds ECAL $2M
We launched ‘The Big Pitch’ competition in May 2014 to discover Australia’s most exciting startups. Following hundreds of entries, five finalists pitched in front of an esteemed panel and a live audience for up to $5M investment. On the night, ECAL was one of two winners to secure pre-termsheets. For them, that commitment has now turned golden.
It’s been two months since ECAL was named one of the joint winners of The Big Pitch, beating out stiff competition to claim a place in Oxygen Ventures’ portfolio as well as millions of dollars in investment. In that time the company has continued to grow, demonstrating the demand for their alternative digital marketing platform.
Placing marketing content directly into digital calendars, ECAL offers an effective solution for savvy marketers trying to reach consumers away from crowded inboxes. ECAL already counts major global sports franchises in the NFL, NBA, EPL and AFL as customers and is paving the way for clients outside of sport to reap rewards from their marketing platform.
Today (19/8/14) sees the announcement of $2M investment into the startup. A proud moment for founder and CEO Patrick Barrett, whose company continues to prove itself on the toughest of stages. For those who’ve seen his compelling pitch it can hardly be a surprise, the company won over the judges with stellar user engagement figures and a simple, disruptive solution.
Funding will now see the company expand its operations in the US, underpinning existing relationships with the country’s biggest sports leagues and teams and forging new partnerships. The development of a new SaaS (Software as a Service) solution will also be supported by the funds. Finally, the existing product will be refined to offer more to clients outside of sport.
This announcement also marks a momentous occasion not only for Oxygen Ventures and ECAL, but for Australian startup culture as a whole. In the wake of a number of challenging governmental withdrawals of funding, the private investment sector is taking its place as a more than capable alternative for startups. This investment could easily be seen as a celebration of Australian startup.
We’ll be keeping you up to date with ECAL and any other Oxygen Ventures updates, so stay tuned to our blog and social media channels at Facebook, Twitter, YouTube and LinkedIn for the latest. There’s plenty on the horizon so watch this space.