RedOwl raises an A$5.3M seed led by Tidal Ventures at a valuation close to A$40M

Melbourne-based RedOwl has raised A$5.3 million in a seed round led by Tidal Ventures, with Sydney firm CP Ventures participating, valuing the company at close to A$40 million. The round follows a pre-seed in March 2025.

Founded in 2024 by Jitto Arulampalam and Thushan Shanmugarajah, RedOwl runs an AI-powered intelligence and governance platform that finds margin leakage before money goes out: invoices priced above the contracted rate, work delivered but never billed, and spending outside company policy. It joined Mastercard's global start-up engagement programme in its first year and counts Mastercard as a backer.

Customers include ASX-listed telco Aussie Broadband and shopping-centre owner Vicinity Centres. The funds go to product development and growing the client base.

Tidal's Kieran O'Neill said finance teams are being asked to decide faster across more complex systems while the context they need stays fragmented.