News: LiveTiles lists on ASX with cloud software offering

LiveTiles (ASX:LVT), formerly Modun Resources, has listed on the Australian Securities Exchange after completed a fully-subscribed $12 million capital raising.

Proceeds from the raising, which was underwritten to $11 million by Blue Ocean Equities, will be used to fund growth plans in key global markets including the U.S.

LiveTiles developed a proprietary software tool that operates together with Microsoft’s cloud collaboration platforms.

This tool enables businesses to rapidly build and deploy modern business solutions including intranets and extranets to their operations.

Since the LiveTiles/Modun announcement in late April 2015, LiveTiles has taken on 43 new commercial customers including Pepsico, UEFA (the governing body of soccer in Europe), 2 Sisters Food Group (one of the UK’s largest food suppliers) and the Canadian Olympic Committee.

It has also established a total of 86 partners, who generate most of the company’s sale, as at 31st August 2015. This is up 36% since the transaction was announced.