Figured receives growth capital investment from Darby Capital Partners
AUCKLAND, Dec. 14, 2017 – Figured Limited (“Figured”), a cloud based accounting and financial management software for the agriculture sector, has partnered with Auckland-based Darby Capital Partners, a growth private equity firm focused on partnering with high-growth Asia-Pacific technology companies. Darby Capital Partners led a $2.5 million funding round, with an option to invest a further $5.0 million in June 2018.
Headquartered in Auckland, New Zealand, Figured is a global provider of cloud based financial management software for the agriculture sector. It is used by farmers, accountants and agri-lenders to reduce data entry, automate workflow processes, reporting and provide in-depth analysis for better decisioning.
Figured CEO Dave Dodds said that whilst Figured was already enjoying high growth, additional capital would allow the company to take Figured’s software to the UK and Ireland, and to further extend the product capability across its three core customer segments of lenders, accountants and farmers. Capital would also be used to expand on the data solutions and machine learning opportunities to provide valuable strategic insights to Figured customers.
“We were very impressed with Darby Capital Partners as they showed us they have laser like strategic thinking, have access to a considerable international network and of course provided the lead capital for this substantial round of investment” said Dodds. “They also are an excellent fit people wise, and we are delighted to partner with them as Figured enters this next phase of growth”.
“The worldwide agriculture industry has experienced low commodity prices and a volatile market, which reduces the farmer’s economics and puts pressure on margins for inputs. Farmers, lenders and agribusiness are demanding increased operational and financial data to address pricing pressure and make better operating decisions. Figured is ideally positioned to meet the increasing demand for data in agriculture and add value and visibility for all stakeholders” said Tom Darby, Director, Darby Capital Partners.
“Figured is led by seasoned business professionals who have a strong understanding of farming, accounting and software development. This has allowed Figured to partner with leading financial institutions around the world and position itself for sustained growth. We are very excited to partner with such a strong management team and help them capture significant opportunities internationally,” said Zak Darby, Director, Darby Capital Partners.
Figured is a cloud based financial management platform for agriculture providing complete online livestock, crop and production tracking, farm budgeting and forecasting and works hand-in-hand with Xero. Figured has operations in 6 offices across NZ, Australia, USA and UK/Ireland and employees over 40 people. Figured was awarded NZ Start-up of the Year at the 2016 Hi Tech Awards, and recently picked up the coveted 2017 Xero App Partner of the Year at Xerocon Melbourne.
About Darby Capital Partners
Darby Capital Partners is a private equity firm focused on driving growth for Asia-Pacific lower middle market technology companies through business development and capital investment. They seek to partner with driven entrepreneurs and provide transformative capital to these high growth companies. Darby Capital Partners has an international reach through its USA investors and network that include, Ric Kayne, Co-Chairman and Founder of Kayne Anderson Capital Advisors, L.P.
For more information on this transaction, please contact:
Tom Darby at Tom@darbycp.com
Dave Dodds at +64 21 663 237 or firstname.lastname@example.org
Source: Figured Limited & Darby Capital Partners Limited