Activeport has received "firm commitments" to raise $6.68 million (before costs) by way of a two-tranche placement to institutional and sophisticated investors.
The placement, completed by Alpine Capital as sole lead manager, introduced domestic and international funds to the Activeport register along with supportive high-net-worth investors.
Directors and senior management have provided firm commitments for $680,000 of Activeport shares at the offer price, subject to shareholder approval.
Funds will be used to accelerate business development, sales and marketing, and product development as the company looks to take advantage of significant tailwinds for orchestration software.
The company said it is now "sufficiently funded" for the foreseeable future.
“With capital raising behind us, the entire team can focus 100% of our attention on delivering software and generating revenue as we strive to reach our goal of being cash flow positive in FY26," said Activeport chairman and CEO, Peter Christie.
Earlier this year, Activeport announced it has received orders for more than 75 new Network as a Service (NaaS) ports worth in excess of $1.2M over 36 months.
In August, the company launched Private-Cloud Connect, a dedicated fibre service offering variable bandwidth for private cloud connectivity.
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