// RAC-backed BetterLabs Ventures has announced its third equity investment, in the peer-to-peer space for hire site, SpacetoCo…
BetterLabs Ventures has just completed its third investment in Perth based business SpacetoCo – following previously-announced investments in Power Ledger and Complete Home Filtration.
Led by Derek Gerrard and a team from RAC, BetterLabs Ventures is an early stage venture fund which looks to invest in innovative startups to accelerate their growth and make a positive difference in WA.
In a State with scarce few early stage venture funds, BetterLabs is one of WA’s most active, planning to invest $3M in up to ten local startups over 2018-2020.
SpacetoCo has been around for a few years, having won the backing of high profile angel investor Steve Baxter on Shark Tank in 2018 as well as completing the Plus Eight tech accelerator in Perth.
The site makes it possible for people to find and book spaces in their community, be it a tennis court, an event, office or performance space.
Three former teachers – Daniel McCullen, Daniel Franco and Jeremy Hurst – have been busy building the business over the past few years, with tie ups with local councils and universities as well as the general public.
A good space
“RAC is excited to support yet another innovative WA business,” said Will Golsby, RAC’s General Manager Corporate Affairs.
“We look forward to supporting the continued growth of SpacetoCo within the WA startup scene.”
“SpacetoCo is extremely excited to be working with BetterLabs,” said Daniel McCullen, Founder and Managing Director of SpacetoCo.
“When looking for an investment partner, the core philosophy was very important to the team and BetterLabs’ Core Pillars and community focus was a perfect fit.
“Along with a capital investment that will allow the company to accelerate, SpacetoCo will benefit from being able to access the experience and knowledge of the BetterLabs team to continue to grow as a sustainable, international company.”
~~
Interested in BetterLabs Ventures? They are holding their next information session on Tues 1st Oct at 4pm at FLUX basement.
MAIN PHOTO: Jeremy Hurst, Daniel Franco & Daniel McCullen at last year’s Plus Eight tech accelerator in Perth.
