https://www.nzx.com/announcements/361891

Seems like a good undertaking...

AUCKLAND, 22 October, 2020. Hi-tech software and services investment company Enprise Group (NZX: ENS) will pay $335,038 to take up its full allocation of shares in a rights issue of its joint venture Datagate Innovation as Datagate chalks up 359% growth in monthly recurring revenue in the US.
Enprise’s management team has a strong track record in building profitable businesses, clocking up more than $50 million in successful venture capital deals. Enprise Group is positioning to repeat its winning formula with Datagate Innovation, a global SaaS telecom billing provider.
Datagate aims to raise between $750,000 and $1 million through the rights issue, which closes October 31st 2020. Offered at $2.20 per share, the capital raise gives Datagate a pre-money valuation of $12.2 million. If Enprise Group 2,010,397 shares in Datagate with an unaudited carrying value of $847,390 were valued at the October 2020 rights issue price of $2.20 per share, the value of the investment would be $4,422,873.
Datagate is planning a Series A capital round in August/September 2021.
Most of Datagate's revenue and growth comes from the US with its primary market of 100,000 technology service providers. More than 90 of Datagate’s 150 customers are in the US, with the rest in New Zealand, Australia, UK and Canada. In September 2020 Datagate reached $1.2 million in annual recurring revenue. US monthly recurring revenue grew by 359% during EOY March 2020. Datagate plans to grow annual recurring revenue to USD $2 million (NZD $3 million) by December 2021.
Market demand for Datagate has not slowed down since the Covid-19 outbreak, as its clients are busy supplying advanced unified communications systems and remote working solutions to their customers.