Software startup IntelligenceBank secured a second seed funding round of USD2 million. This was according to a report published by StartupSmart.

IntelligenceBank is a tech startup that was founded in 2009. At present, the firm is based in Melbourne, Australia. The startup specializes in staff information management platforms. The company raised the funds for their transition from direct sales to online sales. IntelligenceBank was aiming to expand its business from the local market to the rest of the world, the report explained.

Although IntelligenceBank had raised USD2 million in this round, the company will just accept USD1.1 million for now. This amount will be invested in its workforce expansion. The company plans to double its current staff of eight. New marketing and product development staff will also be hired, the report said.

This is the second financing round of IntelligenceBank. This round was led by local investment group KOTJ. IntelligenceBank previously closed a few hundred thousand two years ago, StartupSmart reported.