The offering, which was facilitated by Entrepreneurs in Residence's Greg Riebe, was oversubscribed by 38%.
"Oversubscribing our initial target shows strong confidence in the direction of our company and products," LiveMine operations director Bud O'Shannessy said.
"We didn't pitch to the open market and we got the backing from in-industry private sector investors who were our first choice."
It is understood the company has some high-profile backers from the mining sector.
LiveMine was founded in 2018 by O'Shannessy, a former project manager and jumbo operator at Northern Star Resources and Brendan Parker, a WASM-educated mining engineer who is the CEO of Advanced Mining Production Systems.
LiveMine is a powerful tablet-based data capture software. Offering underground, open pit and exploration modules, the company provides contractors and owner operators an easy and efficient way to collect and manage their operational data.
LiveMine has experienced a strong growth trajectory, with 14 site implementations over the past two years, and plans to scale internationally following recent global traction driven by strong demand in Australia.
The funding will be used to further bolster existing operations, expand tech offerings and assist in establishing sales partnerships with companies in North America and Canada.
The company attended Diggers & Dealers in Kalgoorlie this week.