Euronex Amsterdam-listed internet investment firm Prosus Ventures has joined with existing investor Airtree Ventures to lead a $US8.2 million ($12.6 million) seed funding round for care services online platform Kismet.
Airtree, and other local venture firms Black Nova and Flying Fox, provided $4 million in pre-seed capital for Kismet in May last year.
Kismet was founded by Mark Woodland and colleagues from his former start-up venture Xplor.
Launched in February last year, Kismet’s free online marketplace enables users to connect with more than 35,000 licensed National Disability Insurance Scheme (NDIS) service providers and support coordinators. Kismet Wallet provides a complete view of an individual NDIS participant’s plan to help securely track expenditure. Kismet’s digital check-in system requires an NDIS participant, or a nominee, to confirm they have received specific services, reducing the potential for fraud.
Woodland founded Xplor which developed management software for the childcare sector. The business was sold in 2020 to UK-based private equity firm Advent Capital Partners in a deal which was believed to have valued Xplor at around $100 million.
Kismet plans to use its new funding to take its online care services platform into overseas markets.
Now chief executive of Kismet, Woodland said the capital injection was more than just a financial milestone; it represented significant advancement in the company’s plans to democratise access to care services globally.
Prosus Ventures’ head of investments for South-East Asia, Australia and New Zealand, Sachin Bhanot said Kismet was defining a new online service category at the intersection of software, care services, e-commerce and payments.
Image: Chief executive Woodland, second from right, with other members of the Kismet team.