Posted November 07, 2018 06:27:09AUSTRALIA’S biggest web cam provider is getting a fresh round of funding after getting a $2m injection from venture capital firm KPMG.
The company, called Patriot WebCam, is based in Melbourne and is set to start operations in 2019.
Patriot WebCams is owned by the same investors who backed rival social networking app MySpace in 2018, and had raised $10m in its Series A round in May.
Patriots chief executive Stephen McNeil said the Series A funding was a “big step forward” and would allow Patriot to “take the next big step”.
“It was great to have a round of financing from our existing investors and a large investment from the KPMB family,” Mr McNeil told the ABC.
“We are very excited to get on with our journey and see where we are going.”
Our primary focus is to build the right product for the right people, and build the most secure experience for the users and the advertisers.
“Patriot’s new investors include the US investment firm Greylock Partners and the Chinese private equity group DF Investment.
Mr McNeil expects the company to be able to start rolling out its services this year.”
The big thing for us is to scale the user base to get more and more users on the platform, and then to deliver more and better value for the advertisers,” he said.”
That’s where we’re going to be really focused and really focused on the advertisers.
“It’s a really exciting time for the business.”
Mr McNeill said he would like to see the popularity of the mobile app grow.
“What we’ve seen is that the number of users has gone up significantly, the number who are signing up has gone down and it’s really interesting to see how much that will affect our advertising business and that’s really exciting for us,” he added.
“I think the future of the app and the app’s growth are really up in the air.”
The company said it was looking to expand into video content.
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