Sydney, Australia - 25 July 2012 – Australian enterprise software provider ScriptRock today announced that Silicon Valley entrepreneur and technology investor Peter Thiel has lead the startup’s seed investment round of $1.2M.
Mr Thiel co-founded and led PayPal, the online payments company, which was acquired in 2002 by eBay for US$1.5B. He was also the first external investor in Facebook, and serves on its board. He is currently President of Clarium, a San Francisco based global macro fund manager.
The investment in ScriptRock was made through Valar Ventures and represents Mr Thiel's first investment in an Australian company.
“We see an increasing number of great technology companies being started outside of the United States, as the development of the web erodes traditional barriers to customer acquisition. ScriptRock has an excellent founding team who are addressing a global problem, and we look forward to seeing them continue to develop their vision in the years ahead.” said James Fitzgerald, Partner at Valar Ventures.
ScriptRock provides software that certifies configurations of applications hosted internally or externally. ScriptRock allows companies to both test complex system configurations and share those tests across internal teams.
"There are many applications but our early customers have come to view our product as a form of insurance against failures and the associated cost to their businesses", said ScriptRock Co-CEO Mike Baukes.
ScriptRock recently won two awards at the Citrix Global Synergy Conference, taking out both the Startup Accelerator and People's Choice awards.
An alumnus of Startmate’s 2012 incubator program the company counts several large Australian finance companies amongst its clients, and is currently maintaining a waiting list due to growing demand for the product.
Investment round includes other well-known investors
In addition to Peter Thiel, this funding round includes investment from a number of well-known Australian and US Investors.
Scott Petry (Postini, Authentic8)
Mark Jung and Bruce Graham (IGN, Worldtalk)
500 Startups (Dave McClure)
Paul Bassat (Seek, Avalon Place)
Matt Dickinson (Growth Angels)
Alan Jones (Yahoo!, The New Agency)
Anthony Marcar and Larry Marshall
Startmate also followed on with an additional investment.
Niki Scevak from Startmate commented “Mike, Alan and Leo are creating something special with Scriptrock and the high quality roster of investors now joining us on this journey is testament to that.”
Ryan Junee from Imporia/Omnisio added, "ScriptRock solves the problem of knowing how your systems are configured, this is a big problem for all companies that rely on technology - Their fundraising is a testament to the elegance of their solution and the smarts of the team."
ScriptRock will use the funding to recruit staff in Australia, and to establish a secondary presence in the US.
"A local presence is very important for us, both to support our existing customers and secondly to ensure ongoing access to the amazing, and relatively untapped, engineering talent that is coming out of Australia. This model makes sense and reflects our global intentions" said Mr Baukes.
ScriptRock provides a platform for executable system documentation, which can be collaborated on and shared across teams and providers.
The platform allows IT departments to reduce risk, resolve incidents quickly and share system information securely across teams.
More about ScriptRock