$1.1m for advice software
A $1.1 million grant from Callaghan Innovation will help advisory firm-turned-turned software developer Triplejump towards its goal of listings on the stockmarket in the middle of next year.
Thursday, December 12th 2013, 6:31AM
by Susan Edmunds
Founder Cecilia Farrow said it was the second such Government grant the organisation had received. She said it was designed to provide support for companies that were developing technology with export potential and providing tax income and employment in New Zealand.
It started as a specialist human capital risk adviser firm but has been developing cloud software that it wants to market internationally.
The software is aimed at advisers and businesses that provide human capital risk advice to small businesses.
Callaghan Innovation would match 40c in every dollar Triplejump spent developing the functionality of the system, she said.
Chief executive Ian Black said innovative use of technology had been a key part of the assessment.
Farrow said they had been able to convince the grants panel that their work was significantly innovative because it was creating a new platform that would support advisers and businesses in managing their compliance obligations and collecting and analysing information used to assess risk.
Triplejump also has backing from Sir Stephen Tindall, Ralph Norris and Rob Cameron.
Farrow said the firm’s recent round of capital raising had been successful. Part of that would be used to build sales capability.
It is aiming to list in the middle of next year. Black said Triplejump would have to work through issues of timing for the firm and for the market.
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