Australia’s Startup Scene Is Thriving
Australia has a thriving startup scene. Australian startups received over $10 billion in startup funding in 2021, more than three times the amount in 2020, according to a report by Folklore Ventures and Cut Through Venture. There were 682 total venture capital deals in 2021.
Fintech and enterprise software accounted for 35 percent of total funding in Australia, but investors also are interested in cleantech and blockchain/Web3, according to the report.
There are now 185 publicly listed tech companies in Australia, up from 104 in 2016, according to the report. The total market cap of public Australian tech companies is more than $123 billion. 22 public Australian tech companies are valued at more than $1 billion, and 81 Australian tech companies are valued at more than $100 million. There were 12 tech IPOs in Australia in 2021, up from 10 in 2020.
Canva is a particularly successful tech company based in Australia. Canva is a graphic design platform worth $40 billion. It has a large presence in the US.
Publicly traded Australian tech companies include Afterpay, a buy-now, pay-later platform; Wisetech Global, a logistics software company; Computershare, a stock transfer company; and NEXTDC, a data center operator.
There are 6 Australian unicorns, or privately held companies worth more than $1 billion. They are Canva; Airwallex, a payments platform; SafetyCulture, an operations platform; Culture Amp, an employee engagement startup; Judo Bank, a digital bank; and GO1, an e-learning library. You can also check out a list of some of Australia’s best startups here.
If you’re building an Australian startup, let’s talk. Alariss Global helps global tech companies expand into the US by matching them to top sales and business development talent and acting as the Employer of Record. If you’re ready to discuss how expanding into the US can help your business, book a call with us today.