Sea Monster bags $1-million investment

Cape Town-based, animation, gaming, and AR/VR company, Sea Monster has secured a $1-million investment from FirstRand’s Vumela Fund.

Founded in 2011, Sea Monster was born out of the desire to use games, VR, and AR technology as an instrument for change to develop new and advanced methods of communication and education solutions for corporations.

The $1-million investment will help Sea Monster unlock digital solutions

Established by Glenn Gillis and Wynand “Munki” Groenewald, Sea Monster will use the secured investment to unlock digital solutions to change the way in which corporations address internal training and communication.

The team of analysts, animators, game designers, and developers at Sea Monster work together to develop effective and measurable digital tools for corporations to access large and remote audiences.

Since its inception, the tech company has provided a range of communication and learning solutions for a number of large companies such as FNB, Capitec, Old Mutal, Mediclinic International and more. This stellar record of client speaks to the high calibre of work and concept development employed at Sea Monster.

Glenn Gillis, CEO of Sea Monster explains that after the company faced its initial challenges they decided to pursue investors towards the end of 2019.

“We chose Edge Growth as our preferred VC partner because of their years of experience, a great reputation for fairness and strategic guidance, and because they bring impeccable empowerment credentials to the table. Despite the challenges with Covid-19, Edge never blinked, and we’re delighted that we were able to conclude the deal under the current circumstances.”

Nivesh Pather, Edge Growth Lead Deal Maker, explains that Sea Monster has positioned itself as a unique company that is providing an innovative solution especially with the current challenging circumstances many corporations find themselves in.

“Sea Monster has proven that they are industry leaders in creating innovative digital solutions for corporate challenges that are more impactful and scalable than traditional solutions. We are impressed by the team’s skillsets and experience and by their deep passion to drive solutions that deliver both business and social outcomes. This aligns with our business objectives at Edge Growth.”

Vumela Fund

FirstRand’s Vumela Fund is managed by leading SME Venture Fund Manager Edge Growth. The fund offers financial investment into entrepreneurial companies, non-financial growth support, access to market to prospective investees who bring fresh solutions, stimulate job creation, and help create positive social impact in South Africa.

Established in 2009, The Vumela Fund was established by FNB Business Banking and Edge Growth to aid in alleviating poverty in South Africa through job creation stimulated by the growth of SMEs. Since its inception, the fund has released R175-million to 15 early-stage businesses creating over 1000 jobs.

“Through this investment and partnership, we fully expect Sea Monster to become a recognised global player in interactive experiences and solutions which change the way corporates engage their consumers and employees, ” adds Pather

Read more: SA animation studio Triggerfish to open office in Ireland
Read more: Triggerfish Animation Studios named Western Cape Business of the Year

Featured image: The team at Sea Monster, (Supplied)

Ishani Chetty: Editor
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