Acorn Capital Invests $6.5 million into Complexica, Pushing Total Funds Raised Past $31 Million
Complexica Pty Ltd, a leading provider of Artificial Intelligence software for optimising sales, marketing, and supply chain activities, announced today that clients and funds managed by Acorn Capital have invested $6.5 million into the company, bringing the total investment by outside investors to more than $31 million since 2021. Acorn will join Complexica’s shareholder register alongside other well-known institutional funds, including Perennial Partners, Microequities Asset Management (ASX: MAM), and MA Financial (ASX: MAF), as well as strategic investor and existing Complexica customer Flinders Ports Holdings, which owns and operates nine ports in South Australia, including South Australia’s largest container port.
“We’ve been engaged with Complexica for almost a year now. In that time we’ve been able to get to know Matt and the team well and have been impressed with Complexica’s vision and its ability to win significant enterprise customers”, said Matt Sheehan, Investment Director at Acorn Capital. “We’re excited to be part of Complexica and look forward to assisting Matt and the team realise the full potential of the Company.”
Acorn Capital was established in 1998 as a specialist investment manager in emerging Australian companies, and distinguishes itself through its relatively large research and investment team with expertise across all industries as well as its provision of expansion capital to developing companies. Through its various strategies, Acorn Capital provides Investors with efficient off-index exposure to both public and private emerging companies. The investment approach utilised at Acorn Capital seeks to identify the best emerging companies within an industry. These companies are the next generation of Australian corporate successes, typically associated with high levels of productivity and innovation, as well as providing new employment opportunities for Australians. For more information on Acorn Capital, please visit: www.acorncapital.com.au
“We are very happy to announce the addition of Acorn Capital to Complexica’s shareholder base, with whom we’ve developed a great working relationship during the past year,” said Matt Michalewicz, CEO of Complexica. “Acorn’s $6.5 million investment will be used for expansion and M&A purposes, with some exciting announcements already in the works. As predicted, 2023 is turning out to be a monumental year for the business, putting us in a fantastic position for growth and expansion this year and beyond.”
Complexica is a leading provider of Artificial Intelligence software applications that are used by enterprise customers to digitalise and optimise their sales, marketing, and supply chain activities. The company was founded upon the research of several world-renown computer scientists, and has commercialised a modularised software platform called Decision Cloud® that empowers staff across multiple business functions to make better decisions. Decision Cloud® is powered by Complexica’s Artificial Intelligence engine Larry, the Digital Analyst®, which won the Australian Innovation of Year award. Major customers include Endeavour, Arnott’s Group, Metcash, DuluxGroup, Pernod Ricard, PFD Foods, Asahi & Flinders Ports among others.
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