Aussie unicorns go under the radar, by David Swan.
The number of Australian tech unicorns — billion-dollar, world-changing companies — is growing and local investors are racing to pick the next blockbuster success story.
Atlassian is often cited as Australia’s start-up poster child, but there are others quietly dominating their respective industries the world over. Envato is a Melbourne-based design marketplace start-up with an estimated worth north of $1bn. Its co-founders, Cyan and Collis Ta’eed, are young rich-listers with a combined wealth of hundreds of millions of dollars.
Other local tech powerhouses that have gone under the radar include marketing platform Campaign Monitor, Aconex, Catapult Sports, Tyro Payments and Canva, all of which are already unicorns or on their way to achieving that lofty milestone.
Australia can do software well, because it doesn’t require much capital (which, in Australia, tends to mainly go to farming, mining, finance, and real estate) and because Australia has a bright and well-educated population.