Greenbutton_

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01  /   Behind the Company

Computer Science

Large firms can afford their own large computer servers to do complex modelling and analysis. But a lack of infrastructure can constrain the work that smaller competitors can do and, therefore, the type of clients they can take on.  Wellington start-up GreenButton developed technology to make accessing supercomputing capacity much more accessible for smaller companies.  Its cloud-based system enabled firms to plug into the spare capacity of large firms.

Instead of a small computer taking six hours to process a 20-second animation, GreenButton’s technology could complete the job in about five minutes.

01  /  The Story

Scott Houston created the GreenButton concept when he needed extra computer processing power during production of the Lord of the Rings film trilogy.  Instead of a small computer taking six hours to process a 20-second animation, GreenButton’s technology could complete the job in about five minutes.

GreenButton was established in 2008.  NZVIF became involved in 2011 when the Seed Fund invested alongside a number of angel investors.  The Seed Fund’s early 1:1 investment support resulted in GreenButton being able to raise sufficient capital to bring in key personnel and to engage with US partners.  NZVIF provided continued investment support, both to maintain its pro-rata investment position and to encourage new investors to the table.  

GreenButton was sold to Microsoft in May 2014 in a very successful exit for investors.  Its business model required it to forge partnerships with global technology giants with spare super-computer capacity.  It had developed a relationship with Microsoft and, having established the strength of its IP and its customer value proposition, was particularly suited to a ‘bolt on’ acquisition by them.