Funding announcement
Neara joins the billion-dollar club with $90 million Series D
Australian grid digital-twin startup Neara raised a $90 million Series D led by TCV, reaching unicorn status amid rising data centre power demand.
Venture capital fund · 3 deals
TCV
Disclosed deals
Every published round TCV took part in, and every parcel of existing shares it bought off another holder. Deals we hold but haven't published yet are not counted.
Portfolio
Companies TCV has backed in a published round, and companies whose existing shares it bought off another holder.
| Company | What it does | First invested | Rounds | Led |
|---|---|---|---|---|
| Employment Hero | Another Australian company backed by TCV | 19 Oct 2023 | 2 | 1 |
| Neara | Critical infrastructure digital twin modelling company | 11 Feb 2026, Series D+ | 1 | 1 |
Funds
Fund closes reported for TCV, as distinct from the investments it has made.
Portfolio companies acquired
Companies TCV has backed that another company then bought. An exit for the holding, not a deal TCV did.
People
| Name | Role | Sources |
|---|---|---|
| Muz Ashraf | General Partner | RenewEconomy (10 Feb 2026), RenewEconomy (10 Feb 2026), Startup Daily, SmartCompany, proactiveinvestors.com |
Coverage
Stories naming TCV. Where several outlets covered the same round, they are bundled under whichever ran the fullest account.
Funding announcement
Energy grid digital twin platform Neara turns unicorn with $90 million Series D
Australian grid-modelling startup Neara raised a $90 million Series D led by TCV, valuing the company above $1 billion, funding ML and expansion.
15 deals
Cheque-in: 10 ANZ startups raised nearly $193 million this week
Weekly roundup of ten Australian and New Zealand startup raises totalling nearly $194 million, topped by Neara's $90 million round at a $1.1 billion valuation, with Splose, Operata, HAMR Energy and Adora also covered.
4 deals
Neara powers up to unicorn status with $90 million capital raise
Neara joins the unicorn club after a TCV-led $90 million Series D at a $1.1 billion valuation, with existing backers participating; funds will fuel global expansion and engineering hires.
10 deals
Cybersecurity Sector Leads For New Unicorns In October, With Zero From Silicon Valley
Crunchbase's October 2023 unicorn board update: nine newcomers led by two cybersecurity firms, with Sydney's Employment Hero reaching unicorn status, Shield AI revalued upward, and Convoy and Olive AI shutting down.
Also Crunchbase News
3 deals
Employment Hero raises $263 million in record Australian private software funding round
Australian HR software firm Employment Hero has banked a large Series F led by US investor TCV, lifting its valuation towards $2 billion, with several existing backers also taking part.
4 deals
From zero to Employment Hero
Sydney HR-and-payroll firm Employment Hero announced a TCV-led Series F reaching unicorn valuation; the profile covers its products, remote workforce and global ambitions, citing rival raises.
Series D+
$263m
Employment Hero valued at $2bn after $263 million raise
HR platform Employment Hero announced a Series F of $263 million with TCV leading, valuing the company at $2 billion, pending foreign investment approval, to speed global expansion.
Also Forbes Australia·TechCrunch Australia·SmartCompany·proactiveinvestors.com·Startup Daily·SmartCompany·Startup Daily·SmartCompany·Startup Daily·SmartCompany·Startup Daily·Startup Daily·Startup Daily·employmenthero.com·employmenthero.com·Forbes Australia·Crunchbase News