Kiwi AI data company Blackpearl has completed an oversubscribed NZ$15.1 million raise anchored by Australian institutional investors as it looks to dual list on the ASX in November.
Aussie backers Wilson Asset Management, Ellerston Capital, Bell Potter, and Cerutty Macro Fund have shown their cross-Tasman support for Blackpearl while New Zealand brokers Craigs Investment Partners and JBWere joined in the raise.
Founder and CEO of Blackpearl, Nick Lissette, said the demand from Australian investors sets his company up well for next month’s listing.
“Bringing in Australian cornerstone investors alongside continued New Zealand support provides the diversity and depth of backing we need to drive our next phase of growth,” he said.
“As we move toward our ASX listing, our focus is on creating greater liquidity, expanding institutional participation, and delivering stronger outcomes for shareholders.”
Blackpearl is built around its Pearl Engine, a data platform that uses bespoke LLMs to access, process, and enrich over 21 billion data signals every day.
The company’s products are geared toward the AI-driven sales and marketing for the US market.
It has a market cap of just under NZ$90 million.
In an announcement on the NZX this week, Blackpearl said the final NZ$1.5 million worth of new shares were sold at NZ$0.95 a pop.
Proceeds from the raise will help settle Blackpearl’s purchase of B2B Rocket Inc, a company that automates outbound sales via email, phone, and social sites like LinkedIn.
“Completing the acquisition of B2B Rocket positions us strongly for our next phase of growth,” Lisette said.
“With our four growth drivers scaling in parallel, Blackpearl is on track to surpass $20M ARR [adjusted annual revenue] with clear visibility toward $50M+.”
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