Expert360, an online marketplace that seeks to democratise the consulting business, has raised $1 million in a capital raising that it said was strongly over-subscribed with offers from a “coterie of senior business and investment leaders in Australia, Asia and the U.S.”
Founded in 2012 by former Bain & Company management consultants Bridget Loudon and Emily Yue, the Sydney firm brings together the world’s top business experts and connects them with companies seeking diverse expertise. The platform gives firms access to top-tier experts on a flexible basis without hiring a full consulting team, while helping freelance consults.
Expert360 said it plans to use the funding, its first external round, to continue its full-scale commercial rollout and global expansion. The company says it’s already growing at triple-digits as it targets an estimated $30 billion market opportunity.
Now SMBs can afford consultants
The startup, which officially launched last July, claims a curated selection of over 3,000 experts ranging from former ASX CEOs to domain experts from 34 countries in Australasia, North America, Europe and the Middle East.
Loudon says Expert360 enables fast-growing small- and medium-businesses to summon top consulting talent and compete against bigger rivals.
“This means that robust SMBs on the way up can unlock world-class advice and service expertise whilst remaining nimble and keeping cost down,” said Loudon.
“Expert360 is becoming an integral tool for business decision making and due diligence. Being able to source international experts in a particular field, for as little as half an hour, can be vital to ongoing success,” added Loudon, who started her first business in high school and sold out in university.
Disruptive potential
Yue, who studied law and politics, believes Expert360 is a necessity in today’s marketplace. While many projects get derailed because of an inability to “pull in the right experts on a flexible basis,” a large and growing pool of experts who want to go freelance have lacked the right tools to market themselves and manage their pipelines effectively in this new digital world. Eventually, she asserts, her firm will shake up the sheltered and cozy world of consulting.
“The consulting industry is on the cusp of a major disruption and Expert360 is perfectly positioned to ride that wave,” said Yue, who has herself operated as a consultant and strategy advisor.
