The Sydney-based NFC specialist is to use the funds to expand internationally, adding a local presence in South Africa, Israel, India, Mexico, the US, UK, Sweden, Japan, Vietnam, UAE, Singapore and, potentially, China.
Sydney-based NFC specialist Tapit Media has completed a US$2.4m Series A funding round led by MPC Ventures, a subsidiary of Monash Private Capital. Other investors include venture capitalist Jon Medved’s OurCrowd.com and IT entrepreneurs David Shein and David Thrum.
The funds will be used to expand internationally. Via Monash Private Capital’s network, Tapit will gain an instant footprint in South Africa, Israel, India and Mexico while Tapit will also set up its own local presence in the US, UK, Sweden, Japan, Vietnam, the United Arab Emirates, Singapore and, potentially, China.
“The Series A expansion capital will propel Tapit and our concept of ‘Impulse Content’ onto the global stage,” says CEO & co-founder Jamie Conyngham. “The Monash team is the definition of ‘smart money’, as lead investor they are bringing a wealth of high-level contacts, associated companies, financial and M&A experience. This will assist in accelerating Tapit’s growth.”
“I’m thrilled with this Series A result,” adds Andrew Davis, Tapit co-founder and head of operations. “We’re looking forward to scaling our existing relationships with global clients and bringing the magic of Tapit to our new international markets of operation.”
“We have been impressed with the Tapit product offering and management team, and the traction that they have already established with their blue chip customer base,” explain Geoff Levy and Joey Fridman, co-founders of Monash Private Capital.
Tapit’s NFC platform has already been used by Microsoft, Samsung, Vodafone, Telstra, HTC, PHD, Universal McCann, Johnson & Johnson, Unilever, Prudential, Clear Channel, JCDecaux, Coca Cola and Virgin Mobile.