Welcome to Movac Fund 5.

We are particularly excited about this fund – it’s got a broader mandate than our previous fund, allowing us to make pre-Series A investments. Over the life of the fund we expect to invest around $20 million into these early-stage deals (ideally co-leading/co-investing), and have reserved plenty of dry powder to follow the investments through to Series A and beyond.

We are ecstatic to announce our first Fund 5 investment, and to be joining the Yabble team!

Giving control of consumer data back to the consumer

Co-founders Kathryn and Rachel are developing the world’s first consumer to business data marketplace. Brands are able to interact with individual consumers, collecting data real-time. Like Yabble, we see a world where consumers are increasingly aware that their data has value, yet are not rewarded when it’s traded. Yabble brings data into the sharing economy and puts individuals (we call them ‘Yabblers’) in charge of sharing and collecting a fair reward for their information.

The first thing that pricked our ears up about this opportunity was Kathryn and Rachel. Two vibrant leaders, fiercely motivated, hungry for feedback, and from backgrounds key to the business. Kathryn has experienced the problem she is solving first-hand through her career in the data and research industry, both in-house and at an insights giant. Rachel brings marketing expertise, helping to deliver on the crux of this marketplace: building a base of Yabblers to contribute data in conjunction with enough brands to pay for the information.

From here, we saw network effects that mean the model can scale at pace. The simplest element is that as more brands and customers begin using the platform, it’s value to the user increases. Brands are also able to share data with other brands (if they choose and where the Yabbler opts in), creating further value in the platform. Ultimately the increased sources of direct (from individuals and brands) and passive (for example, location) data are moving towards the formation of a multidimensional view of the individual. This is valuable to brands, who until now have needed to purchase data from many sources and at an aggregate level, which isn’t nearly as insightful.

The really cool part is where Yabble is headed. They are getting started on training machine learning models on this connected data, which will transform the way researchers gather and individuals provide information.

Working with the team of 5 million

One thing we are particularly proud of in Fund 5 is having Kiwi Wealth and the New Zealand Super Fund as cornerstone investors. This means that every time Movac invests in a company, the whole of New Zealand invests. And if it all goes as planned, the team of 5 million will be helping to build world-class homegrown technology, a local workforce of talented experts, and wealth for employees, founders and investors, which can be recycled into more innovative Kiwi companies. And so the cycle continues.

We are very pleased to be significant investors in this round, led by Hillfarrance. A big welcome to Rob Vickery, Founder and Managing Partner at Hillfarrance who has decided to make New Zealand his home. He brings a mountain of big data experience and, of course lots, of relevant relationships with US brands. We are also alongside local investors New Zealand Growth Capital Partners, Enterprise Angels and other angel groups and individuals. Thanks to Rob and the Yabble team for bearing with us while we worked on a fund first close!