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Business School alumna closes $1M investment round for startup venture

22 Apr 2013

Business School alumna Whitney Komor has recently closed a $1M investment deal to fund the launch of her startup TheBestDay, a social planning tool that helps individuals and businesses to easily organise group events.

The deal is led by OneVentures, a venture capital firm that invests in emerging Australian technology companies. It is a co-investment with members of Sydney Angels and the Sydney Angels Sidecar Fund, a group of angel investors who invest in early-stage businesses with high growth potential.

"It is very encouraging that such experienced investors are backing our business," said Whitney Komor, CEO and Founder of TheBestDay. "Our vision for TheBestDay is to become the global platform for making plans. I'd like to now make sure that I vindicate the investors' belief in us."

Ms Komor said she developed the idea for the TheBestDay after a particularly frustrating attempt to plan a weekend away with her friends. With initial seed funding, she created a web-based tool and beta-tested her website with a limited group of users and businesses before taking her idea to the University of Sydney Union's startup development program, INCUBATE.

"INCUBATE was a very useful platform for us in terms of access to mentors and workshops," Ms Komor added. "The program helped us refine and redesign our product from a user perspective and provided guidance in creating a product plan."

TheBestDay website is now live and provides users with an interface to create and share event plans. The funds from the investment will be used to launch TheBestDay's social planning tools, with an option for accepting and managing group payments currently in the pipeline.

According to Ms Komor, the support of major investors is "the best of both worlds".

"We are very excited about such a diverse group of investors supporting us. A long-term relationship with the strategic support of OneVentures as well as access to the variety of networks and expertise of the Angels will definitely benefit us greatly," she said.

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