Australian cloud enterprise resource planning (ERP) platform for small to-medium size enterprises, Wiise, is using a A$16 million investment from KPMG Australia to expand into New Zealand.
New Zealand will be its first international market and expansion plans include fulfilling the growing demand for ERP software in the financial services, manufacturing and warehousing sectors specifically.
Launched in 2018 by KPMG Australia, Commonwealth Bank (CBA) and Microsoft, Wiise has seen accelerated growth in 2023, saying it has tripled its revenue over the past two years with 60 per cent year-on-year growth. It now has more than 40 staff.
Charlie Wood, Wiise CEO, compared the funding commitment from KPMG Australia to a Series B funding round and said it would supercharge growth over the next three years.
“Since its launch by KPMG Australia in 2018, Wiise’s affordable enterprise-grade business software has found a niche in helping Australian small and medium-sized businesses move forward and make smarter decisions in real time,” he said.
“This funding commitment from KPMG will enable us to continue to accelerate innovation in our product offering, build new technology, and expand into international markets.”
Australian organisations currently using Wiise include Capital Transport, FSV Services Group, the National Accreditation Authority for Translators and Interpreters (NAATI) and South Australia's Chamber of Commerce and Industry, Business SA.
Recent innovations by Wiise include new bank feeds that introduce consumer data rights (CDR) and the launch of Wiise Warehouse OnTime.
Sarah Vega, national managing partner of KPMG Futures, said the investment is the culmination of a “multi-year commitment by KPMG to create a home-grown fintech with international potential”.
“Since his appointment as CEO two years ago, Charlie and his team have led the business from start-up to scale-up, and this latest funding commitment brings Wiise a major step closer to becoming not just an Australian success story but a significant player in the ERP market,” she said.
Wiise launched its inaugural partner program in July, with five partners immediately granted the top Elite status. The company says the launch gained interest from new partners across New Zealand and wider markets.