Panviva, a Cloud-based business process guidance software solutions, has announced the completion of a minority equity investment from Telstra Ventures.
The investment enables Panviva to accelerate product development and expand its sales and marketing capabilities globally.
SupportPoint, Panviva's cloud-based business process guidance software solution, enables workers to perform complex business processes and adapt to change by eliminating the need to remember each step in a dynamic process.
With corporate headquarters and a well-established blue-chip customer base in Australia, Panviva is expanding rapidly in North America, according to a company statement.
Panviva chief executive, Ted Gannan, said Telstra's investment in Panviva was pivotal for the company's ongoing product advancements and penetration into new markets.
"Telstra's commitment to Panviva will provide us with the resources needed to grasp the rapidly emerging market opportunities for SupportPoint Cloud in North America and Europe while complementing Telstra's footprint in Asia Pacific," he said.
"The number, size and geographic spread of our customers are all growing rapidly and this investment will enable Panviva to scale both the product and the organisation to meet that challenge."
The investment follows the decision to host Cisco and VMware Clouds in its Clayton datacentre.
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Gannan said Telstra also had made some significant investments recently in Cloud and mobility companies such as DocuSign, Box, Whispir and Kony so "we feel that our joining the Telstra family puts Panviva in an exciting growth environment".
Existing SupportPoint users include BT, Bupa, Westpac, ANZ Bank, Telstra, Stellar US, Stellar Asia Pacific BPO, DuluxGroup, Medibank, Health Alliance Medical Plans, Rocky Mountain Health Plans and Sentara Healthcare.
Telstra executive director, global solutions, Michelle Bendschneider, said the investment would contribute to Telstra's strategy of expanding its cloud services offering and provide solutions to its enterprise and government customers.
"Telstra will also have the ability to provide Panviva solutions to our customers through a reseller agreement," she said.
"We believe the addition of Panviva to our Cloud and services portfolio will add value for our customers both locally and internationally and is in line with our commitment to expand our cloud services, offering our customers choice and flexibility."
Panviva was originally founded in Melbourne, as a content and knowledge management consulting firm.
While still headquartered in Melbourne, Panviva is now a global provider of Cloud-based software solutions with operations and customers in Australia, the US and the UK, including leading global brands in the banking, healthcare and telecommunications sectors.
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