Startup House in San Francisco<\/a>.<\/p>\n <\/p>\n
The investment in the business by Thiel is a landmark moment for Australia\u2019s tech start-up sector and follows rumours that heavy-hitting Silicon Valley investors such as Thiel and Napster founder Sean Parker were scouting Australia for companies to back.<\/p>\n
<\/p>\n
Thiel, who has made the ScriptRock investment via Valar Ventures, was an early backer of Facebook. He led PayPal until its $1.5 billion sale to eBay in 2002.<\/p>\n
<\/p>\n
ScriptRock will use the investment funds to recruit staff in Australia and establish itself further in the US.<\/p>\n
<\/p>\n
“A local presence is very important for us, both to support our existing customers and, secondly, to ensure ongoing access to the amazing, and relatively untapped, engineering talent that is coming out of Australia. This model makes sense and reflects our global intentions,” says co-CEO Baukes.<\/p>\n
<\/p>\n
James Fitzgerald, partner at Valar Ventures, adds: \u201cWe see an increasing number of great technology companies being started outside of the United States, as the development of the web erodes traditional barriers to customer acquisition.\u201d<\/p>\n
<\/p>\n
\u201cScriptRock has an excellent founding team who are addressing a global problem, and we look forward to seeing them continue to develop their vision in the years ahead.\u201d<\/p>\n
<\/p>\n
Niki Scevak, founder of Startmate, adds: \u201cMike, Alan and Leo are creating something special with ScriptRock and the high quality roster of investors now joining us on this journey is testament to that.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
PayPal co-founder and Facebook backer Peter Thiel has made his first investment in an Australian company, leading a $1.2 million<\/p>\n","protected":false},"author":1,"featured_media":62741,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22,1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/47313"}],"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=47313"}],"version-history":[{"count":0,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/posts\/47313\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media\/62741"}],"wp:attachment":[{"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/media?parent=47313"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/categories?post=47313"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.startupsmart.com.au\/wp-json\/wp\/v2\/tags?post=47313"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}