Complexica Pty Ltd, a leading provider of Artificial Intelligence software for optimising sales, marketing, and supply chain activities, announced today that Perennial Partners has invested an additional $1.4 million into the company, along with a further commitment of $1.6 million based upon company performance targets. This brings the total invested and committed capital to $25 million during the past 18 months, and follows Perennial's very recent $3 million investment in November 2022. Other institutional investors in Complexica include Microequities Asset Management (ASX: MAM), ports and logistics operator Flinders Ports Holdings, and ASX-listed investment bank and fund manager MA Financial (ASX: MAF).
"We are excited to increase our investment in Complexica not long after making our initial commitment," said Ryan Sohn, Portfolio Manager at Perennial Value Management. "Since our initial investment, we have been very impressed with the company's execution and efficiencies, and have therefore selected Complexica as a core holding for our fund. We are looking for companies with excellent people and an excellent product, as well as category leadership in growing sectors, and we believe Complexica ticks all these boxes."
“We are very happy to announce this increased investment and vote of confidence from one of Australia's best known fund managers, and look forward to working together to execute on our 2023 growth plans both domestically and overseas,” said Matt Michalewicz, CEO of Complexica. “We believe this announcement will mark the beginning of an exciting year for us, packed with an agenda of significant initiatives that Complexica is actively pursuing.”
Perennial Partners is an Australian fund manager with over A$8 billion on behalf of institutional and retail clients. Perennial focusses on delivering outstanding investment opportunities and outcomes for its clients in segments of the market where active management adds meaningful value. Within Perennial, the Perennial Private team actively manages over A$700m across a series of private company and pre-IPO funds. Perennial offers wholesale investors the opportunity to invest alongside a highly experienced team with deep capabilities, networks and experience in both private and public markets. The Perennial Private Investments strategy focusses on generating superior returns from an actively-managed diverse portfolio of growth equity, pre-IPO and IPO opportunities. Perennial Private Ventures is a dedicated private growth fund targeting businesses with outstanding founder teams, strong high growth business models, and demonstrated commercial traction that are well positioned to capture valuation upside as they enter or accelerate through the growth and scale up phase of the company lifecycle.
Complexica is a leading provider of Artificial Intelligence software applications that can optimise sales, marketing, and supply chain decisions, particularly for organisations characterised by a large SKU range and long tail of customers. The company was founded upon the research of several world-renown computer scientists, and has commercialised a modularised software platform called Decision Cloud® that empowers staff across multiple business functions to make better decisions. Decision Cloud® is powered by Complexica's Artificial Intelligence engine Larry, the Digital Analyst®, which won the Australian Innovation of Year award.