Alii, a Brisbane, Australia-based software company that helps schools, firms, and enterprise organizations mitigate the risk of being hacked and streamline their procurement process, raised $2.5 million in a pre-Series A capital round backed by Maranello Capital.
The funds will be used to increase the company’s staff count by 18 - bolstering its customer engagement, sales, marketing, and product development teams.
The funds will be used to increase the Brisbane company’s headcount with 18 new employees across customer engagement, sales, marketing, and product development, ahead of tackling the US and UK markets.
Alii is a fully automated end-to-end accounts payable solution with invoice fraud detection and also offers a centralized web interface that allows authorized employees to approve procurement requests.
The company claims its clientele, which includes Maurice Blackburn Lawyers, All Saints Anglican School, and Brisbane Boys' College, has increased by 240 percent over the last 12 months, effectively tripling the group’s client base.
To date, Alii has processed more than 900,000 invoices annually for clients across Australia and New Zealand.
Company: Alii Technology Group
Raised: $2.5M
Round: pre-Series A
Funding Month: January 2023
Lead Investors: Maranello Capital
Additional Investors:
Company Website: https://www.myalii.cloud/
Software Category: Accounts Payable & Procurement
About the Company: Founded in 2018, Alii is the first SaaS software to protect & streamline accounts payable & procurement functions for education institutions, law firms, non-profit organizations, and enterprise organizations. With fraud detection and customized workflows and approvals, Alii provides a secured platform for staff to engage with dynamic accounts payable and procure-to-pay automation processes to save time, improve visibility, streamline paper flow, and protect the organization from the risk of fraud.
Source: https://www.businessnewsaustralia.com/articles/fraud-detection-platform-alii-secures--2-5-million-in-pre-series-a--.html