November 14. 2012 (Powerhomebiz.com) Australian startup Tapestry has secured $600,000 in venture capital seed funding in a round led by the Sydney Angels group of investors.
The company is building an easy-to-use platform that brings all social media together into one easy to use interface for seniors to stay connected to their families. Seniors now don’t have to manage complex Facebook, Twitter, Instagram and Email accounts to stay in touch. Just one simple, beautiful Tapestry.
David Greatorex (founding investor ResMed, SecureNet), Su-Ming Wong (CHAMP Private Equity), Brand Hoff (Tower Software, Director NICTA) have invested in Tapestry, and Neil Bourne (Nextec Strategic Capital) has joined the board.
Andrew Dowling, Founder, Tapestry said he was thrilled with the level of funding and the initial support from investors.
“Securing seed funding is a pivotal point in a tech startup’s lifecycle. We’re thrilled to have won the trust and confidence of our investors and its very exciting to know we have the initial capital now to make our vision a reality.
“The intention of the capital raising is to demonstrate the product has legs here in Australia before looking at where we go next internationally.
“Our goal now is to build the first commercially viable version of the product, prove out the business model and validate the opportunity sufficiently for us to seek next-stage growth capital,” Dowling said.
Neil Bourne, of Nextec Strategic Capital, said Tapestry has a real shot at changing how families interact across generations around the world.
“We’re very excited about what Tapestry is creating. It has the potential to not only improve the quality of life for many seniors, but challenge the way the aged care industry delivers its services.
“At a time when the aged care industry is coming under increasing pressure owing to Australia’s ageing population, great startup ideas like Tapestry are invaluable to families and society alike,” Bourne said.
Tapestry helps families share their lives with their parents and grandparents, and to facilitate simple two-way interaction. Tapestry takes all of the complexity out of sharing and is easier to use than email.
Tapestry was designed in close consultation with senior users, with the goal of creating a product that is easy to use by anyone, regardless of how familiar they are with technology.
Tapestry has already won a Commercialisation Australia Skills & Knowledge Grant, a Commercialisation Australia Experienced Executive Grant, and a 2012 National iAward for Innovation.
Tapestry recently completed a trial with Wesley Mission. After the trial, 80% of seniors felt more positive not only about Tapestry but also Wesley Mission itself, and two-thirds of trial users have signed up as full users.
Tapestry is now preparing for its public launch.
For more information on Tapestry, visit: http://www.tapestry.net
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