JAVLN partners with Bombora to fund international expansion

New Zealand-based JAVLN has closed a $6.7 million funding round to support its growth plans in a partnership with Australian pre-IPO fund manager Bombora Investment Management.

The new capital will enable JAVLN to expand its presence firstly in Australia and then more broadly in Asia Pacific through organic growth and acquisition.

Established in 2014 and privately funded until now, JAVLN sought new capital to expand as insurance providers undergo ‘significant’ digital transformation. These providers, including underwriters and brokers, face new reporting regulations in addition to raised customer and staff expectations for user-friendly online experiences.

“To compete with global firms we need to scale our team and technology. Partnering with Bombora brings greater experience and capital to our business, helping us capture new opportunities in Australia and making it easier to attract further investment in the future.” – Dale Smith, founder and CEO of JAVLN.

“JAVLN is very well positioned to grow as insurers, underwriters and brokers adopt modern, cloud based , integrated software solutions to improve efficiency, compliance and customer experience. One of the key attractions for us was the quality of the management team led by founder and CEO Dale Smith, who is an experienced and successful serial entrepreneur. The quality and nature of the investment opportunity resulted in an oversubscribed private offer despite challenging capital market conditions.” – Kerry McIntosh, Bombora-appointed incoming Chair of JAVLN.

“Bombora sought to invest in a high-quality New Zealand start-up with the objective of creating a pathway to listing on the ASX. We are pleased to be partnering with JAVLN, which meets our investment criteria including a mission critical application with low churn, an attractive and defensive industry vertical, high growth and low cash burn.” – Emily Mohan, Investment Director of Bombora.