Key Takeaways
- • Future Secure AI, a Macquarie Capital-backed start-up building artificial intelligence co-workers for companies, has secured more than $100 million in new funding, lifting its valuation to $1.7 billion according to the Australian Financial Review headline.
- • The company is planning a listing on the ASX late next year, with banks expected to be appointed for the IPO within the next few months.
- • New investors include Square Peg, Yarra Capital Management and Firetrail, who are backing the company's effort to expand its customer base.
- • The start-up is chaired by former Macquarie chief financial officer Alex Harvey, linking the company closely to the Macquarie ecosystem.
Summary
Future Secure AI, a start-up backed by Macquarie Capital, has raised more than $100 million in funding ahead of a planned listing on the Australian Securities Exchange late next year, according to the Australian Financial Review. The funding round reportedly takes the company to a $1.7 billion valuation, placing it in unicorn territory.
The company develops artificial intelligence co-workers designed for corporate clients. It is chaired by Alex Harvey, a former chief financial officer of Macquarie. The new capital comes from a group of investors that includes Square Peg, Yarra Capital Management and Firetrail. The proceeds are intended to help the company broaden its customer base.
The company is expected to appoint banks to manage its initial public offering within the next few months. The source material available for this story is limited, and details on the offering size, structure and financial metrics such as revenue were not disclosed in the reporting available.
The company develops artificial intelligence co-workers designed for corporate clients. It is chaired by Alex Harvey, a former chief financial officer of Macquarie. The new capital comes from a group of investors that includes Square Peg, Yarra Capital Management and Firetrail. The proceeds are intended to help the company broaden its customer base.
The company is expected to appoint banks to manage its initial public offering within the next few months. The source material available for this story is limited, and details on the offering size, structure and financial metrics such as revenue were not disclosed in the reporting available.
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