Technology consultancy Idea 11 ropes in investment for growth

10 January 2021 Consultancy.com.au 3 min. read
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Idea11 – a Brisbane-based cloud consultancy specialised in Amazon Web Services – is now poised to expand its operations across Australia, following a capital injection from investment management firm PieLAB. 

Since launching in 2009, Idea11 has grown to a team of 50 professionals spread across two offices – Brisbane and Sydney – serving a wide range of clients over the years, including the City of Gold Coast, Queensland Government, EB Games and TAE Aerospace, among others. The award-winning end-to-end digital transformation services firm is now ready for its next phase of growth.

Founded by a team of established entrepreneurs, PieLAB is an investment firm that helps grow promising small and medium enterprises, mainly via capital injections and mentorship. Idea11 is the latest beneficiary of this offering, following an undisclosed investment from PieLAB.

Technology consultancy Idea 11 ropes in investment for growth

“Idea 11 has all the ingredients we are looking for in our companies. They have a stellar reputation with their customers and their vendors and the opportunity ahead is immense,” noted Chris Rolls, Managing Director of PieLAB.

For Idea11, the funding represents fuel for expansion. “For some time, we have been looking at how we take Idea 11 from having a significant presence in Queensland to become a significant national provider of mid-market digital transformation services. This partnership will help elevate us to being a national player,” said Idea11 co-founder and CEO James Kahn.

The firm’s services – ranging from cloud migration to DevOps, TechOps, data analytics, security as well as machine learning and artificial intelligence – are gaining significant traction in Australia’s business environment. Indeed, the cloud market alone is expected to touch a value of $11 billion by 2023.

Of note here is Idea11’s status as a leading AWS Consulting Partner – a label that further boosts its allure among clients. AWS has fast established itself as the leading cloud services provider in Australia and around the world, and many tech-focused consultancies are honing in on the space. Just last month, global tech services giant Accenture acquired Melbourne-based Olikka – an AWS Advanced Consulting Partner.

“Cloud computing and the digitisation of corporates is a growing and sustainable space and AWS is the leading provider of cloud computing services in the world. Idea 11 now has the backing and support to expand their geographical footprint with AWS in Australia,” explained Rolls.

A three-seat board of directors will now be formed to steer Idea11 – one each occupied by James Kahn and PieLAB investment director Richard Anderson, and a third yet to be finalised. The investment will also bring some changes to the ownership structure, although Idea11 founders James and Bianca Kahn will reportedly keep a “significant” stake. Kahn signaled his confidence in the new setup.

“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.”