About Milford
Milford is a venture capital firm founded in 2003. It is primarily based out of Auckland, New Zealand. As of Aug 2017, Milford has invested in 11 companies. It primarily invests in Series A round in New Zealand based startups. Its investments are spread across a wide range of sectors from Enterprise Applications to Retail and Consumer. Most recently it participated in the $***** Series A round of Coretex Overall, Milford portfolio has seen 4 IPOs and 4 acquisitions including key companies like Unleashed Software, Cluey and Vend. A lot of funds co-invest with Milford, with names like Paul Bassat sharing a substantial percentage of its portfolio. Milford has team of 52 people.Key Metrics
Team Members
Portfolio Count
Portfolio Sectors
Portfolio Locations
Rounds of Entry
Series A, Post IPO & 1 more
Portfolio IPOs
Portfolio Acquisitions
Milford's List of Top Investments
Milford has a portfolio of 11 companies. Their most notable investments are in Unleashed Software and Unleashed Software.Their portfolio spans across New Zealand, Australia and United States. They have invested in Enterprise Applications, Retail, Consumer and 11 other sectors, across stages such as Series A, Post IPO and 1 more. Here is the list of top investments by Milford:Unleashed Software provides platform to manage inventory for the small, medium and enterprise market. Offers features for tracking through serial number, up to date sales margins, currency conversion, Bill of materials and more. Offers businesses sales data analysis based on transactions across warehouses. Partners with many online accounting, point-of-sale, e-commerce and mobile job management software such as Xero, Magento, Quickbook, Vend etc. to form a complete end-to-end business management solution.
Key facts about Unleashed Software
- Founded Year: 2009
- Location: Auckland (New Zealand)
- Stage: Acquired
- Total Funding till date: $17.5M
- Employee Count: 67 as on Jun 30, 2026
- Investors: Milford, K1W1 and 14 Others
- Latest Funding Round: Series C, Oct 04, 2017, $*****
- Highlight: Acquired
2. Cluey
Tutoring platform for students. Provides live sessions, learning content, real-time feedback, and progress report of students. Tutoring is offered for maths and English. The learning programs comply with the Australian curriculums. Students are matched to tutors based on age, educational stage, ability, learning goals, and more. Tutoring is conducted via real-time video and audio utilizing a virtual whiteboard.
Key facts about Cluey
3. Vend
Vend is a provider of web-based POS software that enables retailers to accept payments, track customers, manage inventory, provide loyalty incentives, and run business analytics. It offers modules that include inventory management, Point of Sale(POS), order management, and customer management. The retail POS works on various devices or platforms, including iPad, or even existing POS hardware. It allows contactless payments and online store creation for offline vendors. It offers a subscription-based pricing model.
Key facts about Vend
- Founded Year: 2010
- Location: San Francisco (United States)
- Last Known Valuation: $*****
- Stage: Acquired
- Total Funding till date: $45.9M
- Employee Count: 38 as on Dec 31, 2023
- Investors: Milford, Valar Ventures and 18 Others
- Latest Funding Round: Series D, Dec 2018, $*****
- Highlight: Acquired
Developer of proprietary and in-licensed pharmaceutical products. It develops and distributes patented, branded, and generic drugs. The company focuses on research and development to create innovative products addressing unmet healthcare needs. A significant portion of its business involves out-licensing agreements for international distribution. The company's product portfolio includes analgesics and eye care products.
Key facts about AFT Pharmaceuticals
- Founded Year: 1997
- Location: Auckland (New Zealand)
- Stage: Public
- Employee Count: 113 as on Sep 30, 2026
- Investors: CRG and Milford
- Latest Funding Round: Post IPO, Jun 11, 2020, $*****
- Highlight: Public
5. Coretex
Coretex develops and supplies fleet management solutions to transport operators. Formed from the merger of International Telematics and Imarda, Coretex’s solutions include the ibright system and the i360 Action Engine. ibright system is a single platform telematics solution that provides intelligence about fleet movements and individual assets. ibright is utilized by customers operating fleets of refrigerated assets, trucks, tractors, dry vans and rail assets.
Key facts about Coretex
- Founded Year: 2015
- Location: Auckland (New Zealand)
- Annual Revenue: $100M - $500M as on Mar 31, 2024
- Last Known Valuation: $*****
- Stage: Acquired
- Total Funding till date: $8.34M
- Employee Count: 32 as on Sep 30, 2026
- Investors: Milford, Constellation Capital and 16 Others
- Latest Funding Round: Series A, 2019, $*****
- Highlight: Acquired
Milford's Investments by Stage
Milford has made 3 investments in Series A stage with an average round size of $4.88M, 1 investment in Post IPO stage with an average round size of $12M and 1 investment in Series B stage with an average round size of $30M.Stage of entry | No. of Investments |
|---|---|
Series A | 3 |
Post IPO | 1 |
Series B | 1 |
Note: We have considered here, only first round of investments
Milford's Investments by Sector
Milford has a diverse portfolio, with companies operating in the Consumer, Enterprise Applications, Retail, Transportation and Logistics Tech and Vertical SaaS. Notably, it has invested in 5 Tech companies, 4 Enterprise (B2B) companies, 4 Software companies and at least 2 companies focusing on Consumer (B2C).Sector | No. of Investments |
|---|---|
Consumer | 3 |
Enterprise Applications | 3 |
Retail | 3 |
Transportation and Logistics Tech | 2 |
Vertical SaaS | 2 |
Others | 4 |
Note: We have considered here, only first round of investments
Milford's Investments by Geography
Milford has made most investments in New Zealand (4), followed by United States where it has made 1 investment.Country | No. of Investments |
|---|---|
New Zealand | 4 |
United States | 1 |
Note: We have considered here, only first round of investments
Milford's recent investments
Milford has not made any investment in 2026 so far.Here are the most recent investments by Milford:
Filter this listDate | Company | Location | Round Details | Round Amount | Co-Investors |
|---|---|---|---|---|---|
Aug 24, 2017 | New Zealand | Series A | 1652 | - | |
May 11, 2016 | New Zealand | Series B | 8701 | ||
Oct 30, 2015 | New Zealand | Series A | 3971 | - | |
Jun 16, 2015 | New Zealand | Series B | 2871 | [+2] | |
May 2014 | New Zealand | Post IPO | 1232 |
IPOs and Publicly Listed companies in Milford's Portfolio
4 of Milford's portfolio companies have become public. Cluey got listed on the Australian Securities Exchange (ASX), in Dec 2020 at marketcap of $106M and AFT Pharmaceuticals got listed on the Australian Securities Exchange (ASX), New Zealand Stock Exchange (NZX) at marketcap of undefined.Here are Milford's portfolio companies that went public:
Company | IPO Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Dec 09, 2020 | - | - | 8503 | |
Dec 22, 2015 | May 2014 | Post IPO | 2754 | |
Nov 14, 2003 | - | - | 5070 | |
Sep 26, 1967 | - | - | 2222 |
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Acquired companies in Milford's Portfolio
4 companies from Milford's portfolio have been acquired. The most recent acquisition was Smart Environmental in Dec 2024 by Blue Planet for $*****.Here are Milford's portfolio companies that got acquired most recently:
Company | Acquisition Date | First Invested on | First Round of Investment | Round Size |
|---|---|---|---|---|
Dec 04, 2024 | - | - | 3104 | |
Jul 14, 2021 | Oct 30, 2015 | Series A | 1511 | |
Mar 11, 2021 | May 14, 2013 | Series A | 3423 | |
Nov 12, 2020 | Oct 31, 2013 | Series A | 4857 |
Team profile of Milford
Milford has a team of 52 members including 2 Principals located in Australia and New Zealand. Milford's team does not sit on the board of any company as of now.Co-investors of Milford
Over the past 13 years, 17 investors have co-invested in Milford's portfolio companies. This includes funds and angels.
- Invested before Milford: Point Nine and Asgard have invested in rounds before Milford. There is 1 company where Point Nine has invested before Milford and 1 company where Asgard has invested before Milford.
- Top Co-investors of Milford: 3 investors entered a company along with Milford. These include investors like Paul Bassat (1 company).
- Invested after Milford: A total of 12 investors have invested in Milford's portfolio after their investments. Top Investors include Movac (3 companies), K1W1 (1 company) and Lewis Holding Company (1 company).
Recent News related to Milford
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Online learning startup Academy Xi raises $14 millionStartup Daily•Oct 04, 2021•Academy Xi, Milford, Alium Capital, Giant Leap Fund and 2 others
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Coretex raises $6m in funding round led by Milford Asset | The National Business ReviewNBR•Aug 24, 2017•Coretex, Milford
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Unleashed Software Raises New Capital for Expansion | Scoop News
Scoop•May 11, 2016•Unleashed Software, Milford, Lewis Holding Company
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Funding round success - Unleashed Software Unleashed Software•Oct 30, 2013•Unleashed Software, Milford
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It's business time. Vend raises $8 million. - Vend Retail BlogVend•May 14, 2013•Vend, Point Nine Capital, Milford, Matthew RockMan and 1 other
