Look no further because thereitis says Innovate SA
Adelaide based IT company thereitis is officially launching its brand new website this month – having recently secured a significant round of ‘angel investment’ funding to further develop and market their unique, patented and revolutionary, 3-D cloud computing interface.
Two anonymous local South Australian entrepreneurial businessmen have ensured that the company’s next phase of development is well underway thanks to their investment and mentoring.
According to thereitis CEO Guy Sewell who came to Australia from the UK bringing with him a strong international software and media sales background, the seed capital investment will fund the initial commercialisation and market validation of the company’s ground breaking technology which displays large collections of data in a 3-D array.
“The current method of viewing large amounts of data on both the internet and your PC is over 20 years old – 2-D lists and multiple pages of lists.
“We feel that consumers are ready for a new way to interpret their digital worlds.
“Our technology places large amounts of data into a fully interactive cloud that can help you find whatever you are looking for significantly faster than existing search methods,” Guy says.
The intellectual property ‘spun out’ of Flinders University and the technology has subsequently been developed by Adelaide software developers.
“As part of the commercialisation process, I took part in Innovate SA’s Growing Global Companies and Investment Attraction Courses which certainly helped prepare me for raising capital and for negotiations with our investors.
“Innovate SA’s support has been and continues to be invaluable,” Guys says.
According to Innovate SA Manager Mike Richards, “Supporting companies to raise capital is something that we are passionate about at Innovate SA.
“Our highly skilled Venture Capital business advisors can help companies with advice on the process of securing investment,” Mike says.
Guy explains, “Our business plan is to target the US and UK over the next 18 months with the sale of licensed software.
“We are working with two local beta partners, Boomerang Books and Pinksofa to prove the value of the software before actively selling it.”
Next on the agenda for thereitis is raising the next round of investment as well as hiring several development staff over the next 12 months.
Visit www.thereitis.com to find out more about this leading edge interface.
To find out more about how Innovate SA can help grow your business, visit www.innovatesa.com.au or phone 08 8113 0700.