Brisbane startup Outfit secures $1 million from Microequities Venture Capital Fund after bootstrapping its “Canva for enterprise” platform

"A Brisbane startup developing a Canva-style solution for enterprise companies has secured $1 million from Sydney-based Microequities Venture Capital Fund after a strong run in bootstrapping.

Outfit, developed by NetEngine founder Bruce Stronge, hit $750,000 in turnover in its first year after launching in 2014, and the team is aiming to generate $10 million in turnover by 2020.

“We wanted to bootstrap until we knew what the formula was,” Stronge tells StartupSmart.

As soon as the team figured this out, had enough enterprise customers and an understanding of what Outfit needs in order to scale, Stronge says he decided to bring in external investment to help amp up the team and break into the US." Read more

Dinushi Dias Start Up Smart 6 Mar 2017