Tidetech
Tidetech is an Australian ocean data company that translates complex ocean science into practical, reliable intelligence covering tides, currents and metocean conditions. Its high-resolution, scientifically validated data is used across shipping, ports, navigation systems and maritime operations to support safer, more efficient decision-making at sea.
Need
After years of self-funded growth, Tidetech needed additional funding to help accelerate its export growth strategy. The company wanted to invest in international marketing activities and business development, to increase awareness and expand the reach of its world-leading marine data.
Solution
We provided a Small Business Export Loan over 24 months, helping Tidetech maintain its cash flow and invest in export marketing initiatives. The funding enabled the company to attend international trade shows, develop marketing assets and pursue new growth opportunities in global markets.
For almost two decades, Tidetech has been helping their customers better understand the ocean through its world-leading, scientifically validated metocean data. With our support, the business was able to maintain its cash flow, invest in international marketing initiatives and continue expanding its global reach.
Established in 2008 by co-founders Penny Haire, a professional sailor, and Dr Roger Proctor, a world-leading coastal oceanographer, Tidetech was born from a simple idea: ocean conditions should be as accessible as weather forecasts. Combining practical maritime experience with scientific expertise, they set out to close the information gap in the market by making complex ocean science more useful and accessible, every day.
"Our concept was to take the science around tides and the ocean, which the public didn’t get to use, to build something new, similar to a weather forecast for the ocean,” explained Penny.
Early success came through elite sailing in Australia, where Tidetech supplied ocean current data to race navigators in the Sydney Hobart Yacht Race and supported the 2012 Australian Olympic sailing team, before moving to the international stage with a tidal model built for the 2013 America’s Cup. These opportunities helped establish Tidetech’s reputation and provided a solid foundation for growth across the maritime sector.
The support has been absolutely critical…we couldn’t grow without it. The team at Export Finance Australia was very supportive and responsive.
Penny Haire
Chief Executive Officer and Co-founder, Tidetech
The business soon began shifting its focus to sustainability and green shipping, producing data used by commercial maritime operators to optimise routes, improve efficiency and reduce fuel consumption and emissions.
Funding the next wave of growth
Despite its global customer base, Tidetech had largely funded its growth through operating revenue and reinvestment. As the business matured, and with competitors entering the market, the team recognised the need to invest in marketing and business development to take the business to the next stage of its growth.
However, like many technology businesses, Tidetech's value sits primarily in its intellectual property, specialist knowledge and data capabilities rather than traditional physical assets. To support its growth strategy, we provided Tidetech with a Small Business Export Loan over 24 months.
This allowed Tidetech to maintain its cashflow and continue building momentum while investing in marketing initiatives to raise its profile and reach new international customers.
Tapping into new opportunities
Tidetech's proven ocean intelligence is used around the world. Its data is embedded in navigation systems globally and supplied to one of the world's largest wearable technology companies, making ocean information more accessible to millions of users.
The company is now exploring new opportunities in the consumer market, developing solutions that help people better understand local ocean and coastal conditions for everything from recreational sailing to fishing and paddle sports.
With additional investment in marketing, growing international demand and plans to expand its product offerings, Tidetech is well positioned to bring Australian ocean science to more customers around the world.
