Accel Again Looks Down Under, Leads $35M For 99designs
Things are looking up for firms Down Under.
Accel Partners, an early investor in Facebook Inc., Groupon Inc. and other white-hot companies, has led a $35 million Series A investment in graphic design marketplace 99designs Pty. Ltd., marking the firm’s third deal in an Australian tech company in the past nine months.
“We’re looking more closely at Australia,” said Accel Partner Andrew Braccia, confirming that conversations to fund more Australian companies are ongoing although no new deals have been signed. Accel previously invested undisclosed amounts in software company Atlassian Software Pty. Ltd. and foreign currency exchange service OzForex Pty. Ltd.
“Australia has a lot of opportunity and promise,” he said.
Now, with Accel’s cash and cachet, Melbourne-based 99designs is poised to capitalize on that opportunity right here in the good ol’ U.S. of A.