Auckland software company Fuel50 has raised US$14 million ($21m) in its latest funding round and revealed its latest expansion plans.
Fuel50, which to date has raised $30m, was initially funded by New Zealand investors Ice Angels, Arc Angels and the New Zealand Venture Fund. Silicon Valley venture capital fund PeakSpan Capital led the latest investment round.
The latest funds raised will be used to double the Takapuna-based company's American workforce, and "support customer acquisition efforts".
Fuel50 chief executive Anne Fulton told the Herald the company - which provides HR software to some of the world's largest organisations - would be