Melbourne-based family office Gandel Invest, led by Tony and Adam Gandel, has snapped up over half of the “Series A” scrip offered in a strategic placement of unlisted Aus sports-tech leader EngageRM.
The funds will be used to underpin scalability, strengthen the company’s US foot hold and aid further expansion into the UK.
Adam will take a seat on the Board of EngageRM, which will benefit from his strong investment and legal experience.
Ned Coten, CEO of EngageRM today said, “we are delighted to have Gandel Invest join the team. Their significant experience, networks and market reputation will be central to the exciting plans we have to grow over the coming 18 months”.
Tony Hood, Chairman of EngageRM and director of Corporate Advisory for leading accounting and advisory firm William Buck, which has demonstrated experience identifying growth opportunities for SaaS companies, is supporting EngageRM with the investor search.
“We have a platform that is well advanced on its competition and a business that is scaling rapidly to address the needs of the market”, said Mr Hood.
“Our product already incorporates leading-edge AI to maximise sales and we’re now utilising blockchain to develop client solutions for digital identity and non-fungible tokens, with the objective of enhancing fan engagement.”
William Buck led the team’s first capital raise 12 months ago, which enabled EngageRM to deepen its resources and partner with Microsoft and its engineering teams in the US and Israel, as one of only five companies globally in a specialised co-sell program.
They are seeking an additional strategic investor with strong client relationships in the sports and entertainment vertical, to assist the team with accelerated delivery of its market-leading products, which increasingly utilise AI, machine learning and blockchain technologies.
The initial investment round and deep Microsoft relationship helped EngageRM to build and scale its platform, strengthen marketing, and provide a more sophisticated offering to overseas markets.
The EngageRM team is continuing its string of successes, having recently signed NBA icon LA Lakers and Manchester’s Co-op Live arena.
By signing Manchester’s Co-op Live Arena, EngageRM will be working with one of the most sustainable and socially responsible venues in Europe. Co-op Live aims to create zero waste, extremely low emissions and generates one million pounds a year for community causes, including the fight against food poverty, with its food redistribution program.
Co-op Live’s major investors include City Football Group, owner of newly crowned Premier League champions Manchester City, US-based venue management company Oak View Group, and pop-megastar Harry Styles.
In the US, EngageRM is working closely with the Lakers, LA Clippers and global venue operator AEG. EngageRM technology will also drive the new Intuit Dome, due for completion in 2024, and is in negotiations with a number of other organisations across the US.
Back home, EngageRM continues to work with major sporting clients including eight of the AFL clubs, Rabbitoh’s NRL club, half of the NBL’s teams, Netball Queensland and the Melbourne Cricket Ground– while simultaneously progressing its CouncilRM platform that aims to solve the challenges faced by Australian local government.
EngageRM provides business and marketing automation, CRM and data analytics to the global sports and entertainment industry. Built on the Microsoft Dataverse, the platform provides a ‘central nervous system’ for venues, leagues, teams, arenas, federations and organisations to centralise and leverage data, in order to grow revenue, reduce cost and do more with less in the post-covid world.
About William Buck
William Buck is a leading firm of accountants and advisors with over 100 Directors and 950-strong team across Australia and New Zealand.
William Buck, Melbourne has developed a specialty technology division assisting SaaS and tech companies scale, raising capital for these organisations and managing divestment mandates, including in the property technology sector. In addition to EngageRM, the office is about to launch capital raisings for a regulatory technology company called OnePassport; a female-led legal technology company (servicing in-house legal teams) and digital body scanning and data company, Bodd.
The firm, which recently celebrated its 125th anniversary year, has demonstrated experience in helping companies identify new growth opportunities. Over the last five years, the team has managed over $2 billion worth of transactions across Australia.
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