In December 2019 the New Zealand Law Commission (NZLC) disclosed the terms of reference pursuant to which, over the next two years, it will conduct a review of the law relating to class actions and litigation funding in New Zealand. The aim of this article is to assist the NZLC's study by providing a review of the Australian experience, over the last 15 years or so, with the involvement of commercial litigation funders in proceedings brought pursuant to the five legislative class action regimes that currently operate in the country. This review will place reliance on the first-named author's comprehensive empirical data on class actions funded by litigation funders and will also include an evaluation of the responses of Australian courts, governments and law reform commissions to the challenges created by the activities of litigation funders in the context of class action litigation. The recommendations made by New Zealand's Rules Committee in 2009, in relation to the regulation of funding agreements entered into with respect to class action litigation, will also be considered.