FirstRand’s Vumela Fund, managed by SME Venture Fund Manager Edge Growth, has invested $1m in an animation, gaming and AR/VR company Sea Monster.

“Sea Monster has proven that they are industry leaders in creating innovative digital solutions for corporate challenges which are more impactful and scalable than traditional solutions. We are impressed by the team’s skillsets and experience and by their deep passion to drive solutions that deliver both business and social outcomes. This aligns to our business objectives at Edge Growth,” said Nivesh Pather, Edge Growth Lead Deal Maker.

“Through this investment and partnership, we fully expect Sea Monster to become a recognised global player in interactive experiences and solutions which change the way corporates engage their consumers and employees.”

When Glenn Gillis and Wynand “Munki” Groenewald started the company in 2011 they needed to earn the trust of some of the biggest and most innovative companies in South Africa and around the world.

Using games as a serious instrument for change was still quite a new idea, and AR and VR were very much in their infancy as technologies.

They believed Sea Monster could compete with the best in the world and wanted to scale and unlock the potential of Sea Monster’s solutions globally.

“Towards the middle of 2019, we finally felt that we were ready to actively engage with investors to help us create products, and revenue share opportunities, in addition to building on our solid service relationships,” said Glenn Gillis, CEO.

“We chose Edge Growth as our preferred VC partner because of their years of experience, great reputation for fairness and strategic guidance, and because they bring impeccable empowerment credentials to the table.  Despite the challenges with Covid-19, Edge never blinked, and we’re delighted that we were able to conclude the deal under the current circumstances,” he said.

Sea Monster’s creative digital products have solved communication, change management, staff engagement and learning challenges for some of the largest corporates in South Africa and around the world.

FNB, Capitec, Alexander Forbes, Old Mutual, the South African Reserve Bank, Shell and Mediclinic International are just a few of Sea Monster’s clients. 

As South Africa emerges from lockdown with even greater needs for transformation in every sphere of life, Sea Monster is positioned to play a pivotal role in revolutionising communication and education across industries, worldwide.

The Vumela Fund was established in 2009 by FNB Business Banking and Edge Growth to help alleviate poverty in South Africa by creating jobs through supporting the growth of SMEs.

Vumela has R388m under management, from FirstRand and the Jobs Fund, and to date has deployed R175m to 15 early stage businesses, creating over 1000 permanent jobs, primarily for low to middle income individuals.