Adtech software company Cartelux has announced that TEN13, an Australian venture capital firm and the Queensland Government through Queensland Investment Corporation (QIC) have both invested in the Sunshine Coast-based company.
The investment of AUD $3 million will support the company’s continued growth and further development of its software solutions for the advertising industry, as well as expansion into additional categories.
Cartelux’s target market includes global brands with geographically spread retail networks or franchisees, requiring localised marketing campaigns to reach their customers. Cartelux was founded in 2020 by lifelong entrepreneur Joshua Williams to simplify digital advertising.
“Working with TEN13 and QIC from our global headquarters in Queensland is an incredible honour, and their support allows us to accelerate our growth and elevate Cartelux to new heights,” says Joshua Williams, CEO and founder of Cartelux.
“Their expertise and support will be invaluable as we continue to expand our platform and reach new markets. We are excited to team up with TEN13, QIC and additional investors like Tractor Ventures to form a leading global SaaS business founded in Australia. This team also gives us an experienced and professional starting point for future funding rounds.”
“We are excited to partner with Cartelux and support their vision of transforming the adtech industry with innovative software solutions for brands and their underlying franchisees. Cartelux is driving remarkable results for brands, cementing their position as a leading platform for centralised digital marketing across large networks. We also see tremendous growth opportunities beyond the Automotive Industry,” says Stew Glynn, managing partner, TEN13.
Queensland Treasurer and Minister for Trade and Investment Cameron Dick says the Queensland Government’s investment will support the expansion of Cartelux’s sales, engineering, and product teams on the Sunshine Coast.
“Helping companies like Cartelux take the next step in growing their business is exactly why our Government established the Enterprise Acceleration Fund. Taking a simple solution to a global scale is a big step, but Cartelux have demonstrated the Queensland ingenuity that deserves our backing, through the Queensland Investment Corporation.”
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Top image: Joshua Williams