The round was led by EVP, and was closed in two months from the first meeting with the firm in spite of shaky market conditions for tech companies.

The funds will be used to double InvestorHub’s revenue in 2023 and canvas expansion into other markets such as the UK, Singapore, Canada and the US.

The software provides data-driven insights on a company’s shareholder base, allows it to communicate to them more effectively, and engage with potential investors.

Since launching as Fresh Amplify in July last year, InvestorHub has grown at a CMGR of 31.7%. The business already works with 40 companies that range from $2m to $6bn in market cap, these include: Recce Pharmaceuticals, Race Oncology, Altech Batteries,and 4DS.

CEO and cofounder of InvestorHub, Ben Williamson says that in less than 12 months of operation, InvestorHub has helped its clients, which represent more than $7.5bn in market cap, reach and engage more than 45,000 investors per month, and raise over $77m.

“Our growth is testament to the fact that listed companies find it very difficult - and expensive - to communicate with everyone outside of their top 20 shareholders and institutions," he says. "There are ASX companies who are building complex stitches of multiple databases and communications platforms just to achieve a fraction of what InvestorHub customers are achieving via much simpler means.

“Retail investors account for up to 80% of the daily trades of any given company, so the fact that issuers don’t have the means of directly communicating with them is an insane imbalance in the marketplace.”