Onside buys Assura, now at 60k users, preps capital raise
Christchurch agtech Onside acquired fellow workflow software company Assura for an undisclosed sum, combining platforms that now serve 60,000 users across six countries. The company reported 114% ARR growth and is beginning a capital raise to fund expansion.
The Deal
Assura CEO Hamish Howard joins Onside's leadership team. The combined platform covers contractor management, biosecurity, health and safety, compliance, and quality assurance for agricultural operations. Onside now supports customers across New Zealand, Australia, the US, UK, Mexico, and Fiji.
Revenue numbers: none disclosed. ARR growth: 114% year-on-year, but no baseline provided. The capital raise is underway, but target amount was not shared.
What It Means for Sales
Onside recently appointed Paul Shelton as Head of Revenue to drive expansion across ANZ and North America. The Assura acquisition expands product breadth, which typically means stronger cross-sell and upsell opportunities into existing agricultural customers.
The combined customer base of 60,000 users across 25,000 properties creates a larger installed base for the revenue team to work. Customers include Cobb Vantress, Hendrix Genetics, ANZCO Foods, PIC, and FarmRight.
Funding Context
Onside has raised at least $4.17m in disclosed funding, including a 2022 Series A and a $4m co-investment from the New Zealand Government for biosecurity technology. Earlier rounds in 2020 brought in $2.5m from K1W1, NZ Growth Capital Partners, and Icehouse Ventures.
That funding profile suggests a venture-backed business still in growth mode, not a mature software vendor. The timing of this acquisition ahead of a capital raise is typical: consolidate market position, demonstrate growth metrics, then raise on improved valuation.
Market Position
Onside competes in agri-operational software against broader farm management, compliance, and enterprise workflow tools. The acquisition addresses a common customer request: one integrated platform instead of five different systems.
Founded in 2015 by Ryan Higgs, Juliet Maclean, and Michael Falconer, Onside now employs 60 people across Christchurch and Melbourne. The platform has recorded more than eight million property check-ins.
Worth noting: the company disclosed growth metrics but not revenue, and announced a capital raise without a target. That's not unusual for private companies, but it makes it harder to assess scale.