{"id":44956,"date":"2023-10-20T15:39:59","date_gmt":"2023-10-20T15:39:59","guid":{"rendered":"http:\/\/startupsmart.test\/2023\/10\/20\/sydney-founded-startup-rangeme-secures-5-5-million-in-funding-from-big-name-us-investors-startupsmart\/"},"modified":"2023-10-20T15:39:59","modified_gmt":"2023-10-20T15:39:59","slug":"sydney-founded-startup-rangeme-secures-5-5-million-in-funding-from-big-name-us-investors-startupsmart","status":"publish","type":"post","link":"https:\/\/www.startupsmart.com.au\/uncategorized\/sydney-founded-startup-rangeme-secures-5-5-million-in-funding-from-big-name-us-investors-startupsmart\/","title":{"rendered":"Sydney-founded startup RangeMe secures $5.5 million in funding from big-name US investors – StartupSmart"},"content":{"rendered":"
\"Nicky<\/div>\n

A Sydney-founded online marketplace startup has closed a $5.5 million ($US4 million) funding round led by some big-name US serial entrepreneurs and investors.<\/p>\n

RangeMe, a two-sided marketplace connecting retails with products and suppliers on-demand, secured the capital from the likes of Eventbrite founder Kevin Hartz, Uber advisor Steve Jang, Simon Equity Partners, Freestyle Capital and Transmedia Capital.<\/p>\n

The startup was founded in Sydney in 2013, with its co-founders relocating to San Francisco a year ago to launch its US operations. The company’s development team is still based in Australia.<\/p>\n

RangeMe CEO and founder Nicky Jackson says the cash injection will be used to accelerate the company\u2019s exponential global growth and was also very strategic.<\/p>\n

\u201cThe most important thing was finding the right investors that we could identify and working with them to take the business to the next level,\u201d Jackson tells StartupSmart<\/em>.<\/p>\n

\u201cEach of them has a role to play in terms of why we chose them to come on board.<\/p>\n

\u201cThe funding will be used for expanding our development team in Australia and expanding our team here.\u201d<\/p>\n

Jackson came up with the idea for RangeMe after launching her own range of baby skincare products and finding it difficult to secure a buyer.<\/p>\n

The platform operates on a subscription model, with producers uploading products via the app and buyers then being served up with weekly notifications about relevant products.<\/p>\n

The startup has now generated over 40,000 product reviews, and Jackson says after the concept was proofed in Australia, it has grown rapidly in the American market.<\/p>\n

\u201cComing to the US market has really catapulted our business,\u201d she says.<\/p>\n

\u201cThe growth and hunger in the US is something we\u2019ve never seen before. The growth has been exponential since we launched.<\/p>\n

\u201cIt\u2019s so competitive here and so much innovation is being launched. It\u2019s a very exciting space and the US is a very big market.\u201d<\/p>\n

Despite the overseas success, she says RangeMe will continue to have a strong presence in Sydney.<\/p>\n

\u201cAustralia has been a great launching pad and we will definitely continue to work there very closely,\u201d Jackson says.<\/p>\n

\u201cIt\u2019s where we launched and we have a lot of great learnings from there. It\u2019s a great way to launch, test different features and learn, and it\u2019ll continue to be a very important part of our business.<\/p>\n

\u201cAustralia is where our foundation is.\u201d<\/p>\n

For other Australia founders looking to expand internationally, Jackson says it\u2019s crucial to have feet on the ground.<\/p>\n

\u201cWhen you\u2019re raising capital it\u2019s very important that the business is also grounded in the US,\u201d she says.<\/p>\n

\u201cIt\u2019s very difficult raising capital if you don\u2019t have the business there and successful partnerships in place.<\/p>\n

\u201cWe offer something quite unique that didn\u2019t exist in the US so it was important to come here and get the first mover advantage.<\/p>\n

\u201cWe committed to being here and building the company here.\u201d<\/p>\n

Follow StartupSmart on<\/em> Facebook,<\/em> Twitter,<\/em> LinkedIn<\/em> and<\/em> Soundcloud.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

A Sydney-founded online marketplace startup has closed a $5.5 million ($US4 million) funding round led by some big-name US serial<\/p>\n","protected":false},"author":1,"featured_media":58995,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8,11,1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/44956"}],"collection":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/comments?post=44956"}],"version-history":[{"count":0,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/44956\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media\/58995"}],"wp:attachment":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media?parent=44956"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/categories?post=44956"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/tags?post=44956"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}