DataTorque completes $11 million capital raise and announces new board members 

Wellington, New Zealand – 18 September 2024

DataTorque is thrilled to announce two significant milestones as part of its ongoing growth strategy. The company has successfully completed a $11 million capital raise and appointed two notable members to its Board of Directors.

The capital raise, which saw contributions from both new investors and existing shareholders, is a significant achievement given the current tight conditions in global capital markets. "The ability to raise capital in this environment is a strong sign of confidence in our business and its growth prospects," says DataTorque CEO, Vernon Kay.

This investment of funds will enable DataTorque to accelerate its global expansion and further strengthen its leadership in digital revenue management solutions. The investment will be instrumental in scaling the company’s technology, expanding into new markets, and enhancing its support for governments worldwide in improving tax compliance and public sector efficiency.

In addition to the capital raise, DataTorque is pleased to announce the appointment of Kimbal Riley and Peter Kane to its Board of Directors following the addition of Hilary Lewis at the end of 2023. These new additions bring a wealth of experience in both the technology and financial sectors to lead DataTorque into its next phase of growth.

Kimbal Riley is a highly valuable addition to the DataTorque board, with over 30 years of experience in the technology industry. Riley’s leadership as CEO of Vista Group and senior roles at Orion Health have given him extensive experience in driving innovation and scaling global software companies. His deep understanding of both the technical and business aspects of the industry make him uniquely positioned to offer strategic insights that will help DataTorque expand its digital revenue management solutions and strengthen its global presence. 

DataTorque is also pleased to announce the appointment of Peter Kane to its board, recognising his extensive leadership experience as a valuable asset to the team. His time as CEO of Unimarket saw him drive global expansion into North American and Australian markets and secure a majority-acquisition by leading US PE firm Accel-KKR who specialise in software and tech-enabled services. This, together with his financial expertise from a decade as a Partner at KPMG provide him with a strong foundation to guide DataTorque in making strategic financial decisions and navigating future opportunities for expansion.

DataTorque is also proud to have Hilary Lewis, who joined the board as Chair at the end of last year. Lewis brings an exceptional mix of expertise in finance, digital transformation, and governance. She spent 13 years at Air New Zealand, followed by consulting for leading organisations in the aviation industry, including Qantas, Qatar Airways, and Boeing. In addition to her corporate work, Lewis has made significant contributions to the non-profit sector. Her leadership and commitment to social impact align well with DataTorque’s vision of delivering technology solutions that drive positive change in the communities it serves.

The current composition of DataTorque's board is as follows:

• Hilary Lewis (Chair)
• Bill Chatwin
• Lincoln Falconer
• Peter Kane
• Kimbal Riley

"

This is a very strong and engaged board with a diverse set of backgrounds to help guide DataTorque's growth.

Vernon Kay
CEO | DataTorque

With the new capital and strengthened board, DataTorque is well-positioned to continue innovating in the revenue management space, helping governments improve tax compliance and efficiency while delivering greater value to its clients worldwide.