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Tuesday, 07 June 2016 12:17

Maestrano raises another $4 million


Cloud provider Maestrano has completed a $4 million capital raising.

Australian cloud connectivity provider Maestrano has raised another $4 million, bringing its three-round total to $7.4 million.

The new funding came from Acorn Capital, former Macquarie Group CEO Allan Moss, and another as yet unnamed investor.

The injection will be used to speed the company's expansion within its existing seven countries of operation.

Maestrano chief executive Stephane Ibos merely said "We are delighted to have the backing of renowned investors in the IT and financial industries."

Looking a little further ahead, Maestrano expects to serve SMEs in 17 countries by early 2017.

"Our journey with PwC and NAB in Australia is being repeated around the world, Maestrano is now recognised as a breakthrough platform for cloud applications integration and data intelligence," added Ibos.

Maestrano integrates a growing variety of applications — including MYOB, QuickBooks, Xero, Magento, Eventbrite, WordPress and Office 365  to produce consolidated reports and dashboards.

An earlier version of this story stated "The company did not disclose the source of the funds" due to a lack of clarity in Maestrano's announcement.

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Stephen Withers

Stephen Withers is one of Australia¹s most experienced IT journalists, having begun his career in the days of 8-bit 'microcomputers'. He covers the gamut from gadgets to enterprise systems. In previous lives he has been an academic, a systems programmer, an IT support manager, and an online services manager. Stephen holds an honours degree in Management Sciences and a PhD in Industrial and Business Studies.

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