Five V and QIC back Brisbane start-up to take CloudOps platform across the Pacific

Brisbane tech start-up Dataweavers will take its Cloud Operations platform to more customers across the United States following a $5.5 million Series A round.

Led by Five V Capital alongside QIC and existing investor OIF, the capital raise will almost double the size of the Queensland-based product and software engineering teams, who help customers like Toyota and Rio Tinto manage, deploy and update complex apps and tech infrastructure.

The Dataweavers product takes the complexity out of creating and managing digital platforms, saving businesses time and money so they can focus on creating value for their customers.

Founder and CEO Ben Shapiro said the company was now well-positioned to capitalise on existing traction in the US.

“Having Five V and QIC come on board with OIF is a tremendous boost at a real turning point in the Dataweavers journey,” Mr Shapiro said.

“We were fortunate to work with a number of US companies throughout the pandemic, but now we have the confidence and capital to double down building our in-person presence across the US more broadly.

“By taking the hassle out of managing Cloud Infrastructure, our clients can spend more time focusing on customer campaigns that add real business value – like creating exceptional digital experiences.”

The team of 43 will continue to scale over the next five years, with 20 new product and software engineering roles to be based at Dataweavers headquarters in Brisbane’s New Farm.

Five V Capital Head of VC Ed Bigazzi said Dataweavers presented a compelling investment opportunity.

“This is a product that solves a very real pain point: how do companies best manage their marketing technology stack?” he said.

“Ben and his team take away that customer headache of managing the cloud infrastructure layer, with the end result being greater cost efficiency, improved website performance and security, and faster innovation cycles.

“We were also super impressed with the team and their detailed understanding of the technical problem their customers are trying to solve."

QIC Private Equity Partner Crystal Russell said the shift towards enterprise digital transformation represented a significant tailwind for Dataweavers.

“As organisations focus on optimising digital operations and enhancing customer experiences, the demand for turnkey solutions such as this will only continue to grow,” Ms Russell said.

“Through the Business Investment Fund, QIC Ventures is excited to be a part of this next stage alongside Five V and OIF, and to work with a repeat-founder who brings a genuine understanding of the pain points for which Dataweavers solves for.”

The $100 million Business Investment fund was established by the Queensland Government in 2020 to support good quality Queensland businesses that need capital to create jobs.

Business investment funds managed by QIC have invested $150 million into 77 businesses, creating more than 1,200 jobs.

For more information, visit our Queensland Venture Capital Development Fund webpage.