Sydney-based Software-as-a-Service (SaaS) company expanz received a $1 million investment from venture capitalist Roger Allen, according to a company announcement.
Allen is currently a director and co-founder of venture capital firm Allen & Buckeridge and is a prominent figure in the Australian IT industry.
Expanz's flagship product, expanzPLATFORM, is an application development platform designed to allow developers to design, develop and run enterprise .NET applications. These can run both on premise or in the cloud.
The platform uses pre-fabricated components to allow developers to create applications without having to write common repeatable functions every time.
While expanz's profitability attracted Allen, he also felt that the company had confidence in its product.
"They actually use their own platform to build and support their own ERP [enterprise resource planning] application which is delivered to customers as a per month service in the cloud," he said in the statement.
"That was very important to me ... that expanz eat their own dog food and the applications built on their platform were mission critical and solved complex problems."
Expanz's chief, Matt Clarke, said that Allen's reputation as an entrepreneur and investor "precedes him" in Australia, the US, Asia and Europe.
"He also lives around the corner from our office," he said.