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Reading: Scaleup Mediafund Third Funding Round Of $15m Completes First Two Deals
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B&T > Advertising > Scaleup Mediafund Third Funding Round Of $15m Completes First Two Deals
Advertising

Scaleup Mediafund Third Funding Round Of $15m Completes First Two Deals

Staff Writers
Published on: 23rd May 2024 at 12:34 PM
Edited by Staff Writers
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Michael Lamont, inestment principal at Scaleup Mediafund
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Scaleup Mediafund has completed its first two investments under a new funding round that has committed a further $15 million in brand advertising and paid media for consumer-facing start-ups to accelerate their growth.

Lead image: Michael Lamont, investment principal, Scaleup Mediafund

The fund, comprising the nation’s leading publishers and broadcasters, including News Corp Australia, NOVA Entertainment, Foxtel, and REA Group, has expanded its ranks with outdoor advertising company oOh!media joining, extending the fund’s reach to its out-of-home network of 35,000+ locations.

The two new deals the fund has struck will see it invest in Hawkes Brewing Co and Bare Funeral Group.

“Hawkes Brewing was impressed by Scaleup Mediafund’s unique way of backing our brand and leaning in to help drive our business forward. Right from the start, they really got what we’re about and what will make a difference. Scaleups’ premium inventory and the team’s commitment have seriously boosted our progress,” said Glen Brasington, Hawkes Brewing CEO.

Since its inception in 2017, the fund’s investors have committed more than $45 million in advertising and marketing inventory to the nation’s start-up sector. Throughout the last seven years, Scaleup Mediafund has backed the growth of 17 thriving businesses, with five of them reaching the milestones of acquisition or IPO.

The fund works directly with founder-led businesses to provide discounted advertising and marketing inventory in exchange for equity. This gives early-stage businesses access to scale advertising and marketing inventory from some of the country’s largest publishers and broadcasters to help build their brands, reaching every Australian household and target demographic.

“We offer a straightforward and unique deal structure for founders of consumer-facing brands to access affordable high-impact brand and advertising opportunities in exchange for equity,” said Michael Lamont, Scaleup Mediafund investment principal.

“We have embraced the challenge that new brands face – how to best build their presence, attract consumers, and scale effectively. Scaleup is the only Australian fund solely dedicated to addressing this issue, which offers substantial opportunity for startups to accelerate growth”.

“With our third funding round in place, we’re delighted to have completed our first two investments and now invite the next wave of startups who are interested in learning about media-for-equity and how it can support their growth plans,” added Lamont.

With Australian startup funding falling by 52.7 per cent in 2023, and only a fraction of it being invested in consumer-facing brands, ScaleUp Mediafund is well placed to support Australian consumer-facing start-ups seeking equity to fund growth.

“Given the preference of venture capital markets for investments in technology and enterprise software, we offer unparalleled access to investment capital and advertising knowhow for consumer brand startups which, we believe, are underserved by traditional venture capital – we encourage businesses focused on driving marketing-based growth to reach out and see how they can benefit from the reach, data, and insights that our network of industry professionals provides,” continued Lamont.

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TAGGED: Hawke's Brewing Co, oOH! Media, Scaleup Mediafund
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Fredrika Stigell
By Fredrika Stigell
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Fredrika Stigell is a journalist at B&T with a focus on all things culture. Fredrika is also completing a Master of Archaeology, focusing on Indigenous rock art and historical artefacts in Kakadu National Park. Previously, she worked at a heritage company helping to organise storage collections for Sydney historical artefacts. Fredrika majored in English during her Bachelor's and is an avid reader with a particular interest in 19th and 20th century literary fiction.

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