Featured IT News

ACMA calls for feedback on emergency call services regime

19 June 2019 in Telecoms & NBN

The telecommunications regulator, The Australian Communications and Media Authority (ACMA), is currently reviewing Australia’s emergency call services regime and is…

Firm that found Exim bug says 'millions of attacks' claim unreliable

19 June 2019 in Security

Reports that millions of servers running the mail transport agent Exim are being attacked through a recently announced vulnerability are…

Facebook announces cryptocurrency; politicians, regulators not impressed

19 June 2019 in Strategy

Social media giant Facebook has announced it will launch its own cryptocurrency under the name Libra next year through a…

Attackers use phishing to gain access to ACU staff data

18 June 2019 in Security

The Australian Catholic University has been hit by a data breach, with the attacker(s) using a phishing email to trick…

Huawei founder says US moves will cost billions in revenue

18 June 2019 in Government Tech Policy

Chinese telecommunications equipment provider Huawei Technologies says it will suffer a drop of US$25 billion in projected revenue over the…

Ericsson launches enhanced 5G deployment options

17 June 2019 in Networking

Ericsson has launched new software and hardware solutions to expand 5G deployment options, with the new solutions claimed to be…

NBN Co's CVC pricing may force Launtel to stop 250/100 Canberra plans

17 June 2019 in Telecoms & NBN

Small Tasmanian-based Internet services provider Launtel is likely to stop offering its 250/100Mbps NBN service in Canberra due to the…

US chip firms seeking to ease ban on Huawei: report

17 June 2019 in Government Tech Policy

American processor companies are lobbying the government to ease the ban on supplying components to Chinese telecommunications equipment vendor Huawei…

AGL Energy pulls out of bid for Vocus Communications

17 June 2019 in Business Telecommunications

Australia's fourth largest telecommunications operator Vocus Communications has lost another suitor, with AGL Energy announcing on Monday that it had…

Monthly average losses to NBN scams soar to new levels in 2019: report

17 June 2019 in Security

Australians are losing more money to NBN scams, with an average of more than $110,000 being lost each month between…

More F-35 issues discovered, but Australia firm on purchase

17 June 2019 in Government Tech Policy

The Australian Government has approved the acquisition of 72 F-35A fighter aircraft, the Department of Defence says, in response to…

NSA's EternalBlue exploit surfaces in bog standard mining attack

15 June 2019 in Security

A bog standard attack aimed at planting a cryptocurrency miner has been found to be using advanced targeted attack tools…

Breaking IT News

Xero, Stripe partner on payment ‘innovations’ for small businesses

19 June 2019 in Accounting Software

 Accounting software company Xero is partnering with online payments provider Stripe to develop what they say are innovations that help…

Give me more: Microsoft again shows that it values money above image

19 June 2019 in Open Sauce

Microsoft often likes to portray itself as a company that supports education and research, but that appears to be just…

Wind, solar and battery to power WA mine

19 June 2019 in Energy

Second-hand wind turbines, solar and a battery will combine to power a remote mine in Western Australia, in a claimed…

Vonex partners with Qantas on loyalty program for SMEs

19 June 2019 in Business Telecommunications

Australian-listed telecommunications provider Vonex is partnering with Qantas in a deal to allow small to medium business (SME) members of…

Containers pose security risks, but mitigation isn't tough: Lees

19 June 2019 in Open Source

Recent concerns over the security offered by containers are not unjustified, the chief technologist for Germany-based SUSE in the Asia-Pacific…

Three private firms to offer 'biggest' solar battery scheme in parts of NSW

19 June 2019 in Energy

Three private companies will announce on Wednesday what they claim is Australia's biggest independent solar battery scheme which will be…

Bitdefender releases updated decryptor for Gandcrab ransomware

19 June 2019 in Security

Cyber security firm Bitdefender has released a new decryptor to counter the latest version of the Windows ransomware known as…

Fraudulent domains increased by 11% in 2018, survey claims

19 June 2019 in Security

A survey of domains by email security firm Proofpoint has found that registrations of fraudulent domains increased by 11% in…

Cloud services provide boost to business, survey claims

19 June 2019 in Cloud

Cyber security firm McAfee claims a wide range of organisations accelerate their business through the use of cloud services, following…

Forescout, The Next Level Learning partner on APAC training

18 June 2019 in Strategy

Security control solutions provider Forescout has appointed The Next Level Learning as its training partner in Asia Pacific.

YouTube too big to clean up completely: Google's Pichai

18 June 2019 in Technology Regulation

Google has admitted that YouTube is far too big for it to clean up the site and remove every bit…

New electricity code to enforce compliance by energy retailers

18 June 2019 in Energy

Energy retailers in South East Queensland, New South Wales and South Australia must comply with obligations under a new Electricity…

HP Jet Fusion 5200 readies 3D printing for prime time

18 June 2019 in Hardware

HP's Jet Fusion 3D printer range now includes a model suitable for production work.

Android malware bypasses Google's permissions restrictions

18 June 2019 in Security

Android malware that sidesteps the measures introduced by Google in March, to restrict the use of SMS and Call Log…

Nvidia adds Arm support

18 June 2019 in Strategy

GPU vendor Nvidia has announced that its AI and HPC software will be available for Arm-based computers by the end…

HSBC deploys digital accounts receivable tool built on Identitii’s tokenisation technology

18 June 2019 in Deals

Banking group HSBC has launched a digital accounts receivable tool for its corporate clients in India, using Australian FinTech Identitii’s…

Now you see them... Huawei laptops reappear in Microsoft store

18 June 2019 in Government Tech Policy

Laptops made by Chinese telecommunications equipment vendor Huawei Technologies have reappeared in the Microsoft Online Store, a little less than…

Linux devices vulnerable to ping of death attack

18 June 2019 in Security

A researcher at Netflix Security has warned of a number of TCP flaws in the Linux and FreeBSD kernels, one…

 

Popular News

 

Telecommunications

VENDOR NEWS & EVENTS

REVIEWS

Recent Comments

Wednesday, 25 February 2015 10:48

Xero secures NZ$147 million in investments to drive global growth Featured

By
Xero CEO Rod Drury Xero CEO Rod Drury

New Zealand-based, listed global accounting software provider Xero has secured NZ$147 million in funding which it will use to drive growth internationally, particularly in the US and UK markets.

Xero CEO Rod Drury announced a strategic investment of NZ132.9 by Silicon Valley venture capital firm Accel Partners at NZ$20 per share, and a further NZ$14.3 million in additional capital investment from existing shareholder Matrix Capital Management.

Accel, which focuses on early stage and growth stage investments, will invest through a number of funds under its management.

Matrix is Xero’s largest institutional investor.

Drury said Xero will have a cash balance of approximately NZ$285 million on completion of the transactions which will be used to fuel continued innovation and growth globally and specifically to drive its growth in the United States and United Kingdom.

Xero (ASX:XRO) also announced continuing expansion of its US and global leadership teams with the appointment of Russell Fujioka, as US President, effective immediately. Fujioka is based at Xero’s US headquarters in San Francisco. Drury said Fujioka brings to Xero significant experience in sales, digital marketing and operational management of high growth technology businesses.

The company also adds Graham Smith - former Saleforce chief financial officer and Splunk board member – to the Xero board as an additional independent, non-executive director. Smith has significant experience scaling SaaS businesses.

The investments by both Accel and Matrix are expected to close in mid-March. The Accel investment is subject to conditions in the agreements being met, but the Matrix deal is not subject to any conditions other than the closing of the Accel Funds investment.

“We welcome the Accel Funds as strategic investors in Xero, and are delighted with Matrix’s continued support,” Drury said.

“Our ability to attract capital and leadership of this calibre is testament to our success and our potential to become the small business SaaS platform of choice for entrepreneurs around the globe.”


“Accel always looks for enduring technologies with global reach and we see the need and opportunity for millions of small businesses to grow on Xero’s platform,” said Andrew Braccia, partner at Accel.  

“We’ve worked with several other leading companies in the region to broaden their global reach and we hope this experience will be valuable as Xero’s strong leadership team looks to expand in the United States.”

LEARN HOW TO REDUCE YOUR RISK OF A CYBER ATTACK

Australia is a cyber espionage hot spot.

As we automate, script and move to the cloud, more and more businesses are reliant on infrastructure that has high potential to be exposed to risk.

It only takes one awry email to expose an accounts payable process, and for cyber attackers to cost a business thousands of dollars.

In the free white paper ‘6 steps to improve your Business Cyber Security’ you will learn some simple steps you should be taking to prevent devastating malicious cyber attacks from destroying your business.

Cyber security can no longer be ignored, in this white paper you will learn:

· How does business security get breached?
· What can it cost to get it wrong?
· 6 actionable tips

DOWNLOAD NOW!

Peter Dinham

Peter Dinham is a co-founder of iTWire and a 35-year veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).