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Idea 11 looks to become ‘national player’ with capital injection
Idea 11 looks to become ‘national player’ with capital injection
QLD AWS partner now majority-owned by investment company PieLAB Credit: Idea 11
Queensland IT consultancy Idea 11 is set to expand its footprint across Australia following an injection of capital funding.
The Brisbane-based consultancy received the funding from small- to medium-sized business investment firm PieLAB Council Capital, allowing it to grow its Amazon Web Services (AWS) cloud service practice into NSW.
Idea 11 was previously owned entirely by married couple James and Bianca Kahn, who will still continue to retain a significant stake.
However, the company will now establish a board of directors, with PieLAB investment director Richard Anderson and James Kahn, Idea 11’s CEO, filling two of three seats while another member is shortlisted.
Brisbane-based IT consulting firm and AWS partner Idea 11 has secured an investment from Australian private equity group PieLAB Council Capital.
The companies did not disclose the investment amount but Idea 11 founder and CEO James Kahn said the proceeds will help strengthen the MSP’s brand and position in the Australian IT services market and move closer to its goal of becoming a national MSP.
Idea 11 said the investment was significant but wasn’t necessarily capital backing that drove the decision
“In PieLAB, we found not only an alignment of cultures and personalities but a group of individuals with proven track records in growing significant businesses,” Kahn said.