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Optimizer HQ raises $4 mln from eligible investors, still mulling local listing

Monday 17th June 2013

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Optimizer HQ, the Auckland-based tech company, raised $4 million from eligible investors as it mulls joining the local stock exchange after two less than successful listings overseas.

The company will use the new funds to pay for its international expansion, chief executive Manas Kumar said in a statement. Optimizer offers payment, security and cloud solutions, and has offices in the Philippines, Hong Kong, Canada and the US.

"This investment will allow us to continue our international expansion," Kumar said. "The costs of expansion into international markets is expensive, and this new capital will assist us with funding that growth strategy."

Earlier this year Optimizer said it was looking at listing on the NZX, having tried out the now-defunct unofficial market of the Hamburg Stock exchange via a Canada-based licensed partner, and later withdrawing.

Local tech companies have shown a greater willingness to go public, with mobile advertising firm Snakk Media and online search engine builder SLI Systems already listing, and Optimizer is one of a number of other firms looking to join the bourse in coming months.

 

BusinessDesk.co.nz

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