About Varicon
Varicon is a company based in Hobart (Australia) founded in 2018 by Ofer Assor.. Varicon has raised $2.69 million across 3 funding rounds from investors including Black Nova, Galileo Ventures and Artesian. Varicon offers products and services including Varicon Platform, AP Automation, Site Diary, Payroll Automation, and Progress Claims. Varicon operates in a competitive market with competitors including Adaptive, Smartbeam, Mela Works, Bauwise and Compa, among others.
- Headquarter Hobart, Australia
- Founders Ofer Assor
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Sectors
Real Estate & Construction
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$2.69 M (USD)
in 3 rounds
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Latest Funding Round
$2.25 M (USD), Seed
Mar 17, 2022
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Investors
Black Nova
& 9 more
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Employee Count
Employee Count
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Products & Services of Varicon
Varicon offers a comprehensive portfolio of products and services, including Varicon Platform, AP Automation, Site Diary, Payroll Automation, and Progress Claims. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Platform for real-time construction cost tracking and automation.
Automates accounts payable to reduce processing workload.
Digital tool for capturing site updates and progress.
Simplifies timesheet entry and payroll reconciliation.
Manages accurate claims for construction projects.
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Funding Insights of Varicon
Varicon has successfully raised a total of $2.69M across 3 strategic funding rounds. The most recent funding activity was a Seed round of $2.25 million completed in March 2022. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 3
- Last Round Seed — $2.2M
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First Round
First Round
(01 Jun 2021)
- Investors Count 10
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Mar, 2022 | Amount | Seed - Varicon | Valuation | Black Nova | |
| Nov, 2021 | Amount | Seed - Varicon | Valuation | Saniel Ventures |
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| Jun, 2021 | Amount | Seed - Varicon | Valuation | Galileo Ventures |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Varicon
Varicon has secured backing from 10 investors, including venture fund, angel, and institutional investors. Prominent investors backing the company include Black Nova, Galileo Ventures and Artesian. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Venture capital investments are provided to B2B technology startups.
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Founded Year | Domain | Location | |
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Early-stage venture capital funding is provided by Galileo Ventures.
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Founded Year | Domain | Location | |
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Venture capital and private debt fund focused on climate, agrifood, health, AI, and multiple sectors
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Varicon
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Varicon
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Varicon Comparisons
Competitors of Varicon
Varicon operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Adaptive, Smartbeam, Mela Works, Bauwise and Compa, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Adaptive is recognized as an AI-powered financial management platform for construction professionals.
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| domain | founded_year | HQ Location |
Cost and budget management is facilitated for construction projects.
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| domain | founded_year | HQ Location |
Field workforce collaboration is enabled via a mobile platform.
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| domain | founded_year | HQ Location |
Software for tracking construction budgets, costs, invoices, and subcontractor management.
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| domain | founded_year | HQ Location |
Merchant processing solutions are provided for payment acceptance and management.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Frequently Asked Questions about Varicon
When was Varicon founded?
Varicon was founded in 2018 and raised its 1st funding round 3 years after it was founded.
Where is Varicon located?
Varicon is headquartered in Hobart, Australia. It is registered at Hobart, Tasmania, Australia.
Is Varicon a funded company?
Varicon is a funded company, having raised a total of $2.69M across 3 funding rounds to date. The company's 1st funding round was a Seed of $440K, raised on Jun 01, 2021.
What does Varicon do?
Varicon was founded in 2018 in Hobart, Australia, as a SaaS platform focused on cost management within the construction sector. Tools for cost forecasting, job tracking, progress oversight, variation claims, site diaries, timesheets, automated reports, and document handling are included. Operations support professionals in managing project finances and workflows across Australian sites.
Who are the top competitors of Varicon?
What products or services does Varicon offer?
Varicon offers Varicon Platform, AP Automation, Site Diary, Payroll Automation, and Progress Claims.
Who are Varicon's investors?
Varicon has 10 investors. Key investors include Black Nova, Galileo Ventures, Artesian, Danielle Mathiesen, and Andrew Sypkes.
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