Farnborough based shipping technology company, Locus Software Limited, are the latest company to be supported through the Enterprise M3 Funding Escalator. The company have successfully secured a £150,000 Expansion Loan to help increase their resources to facilitate the next stage of their growth. Established 10 years ago Locus Software offers an Enterprise system that acts as a ‘one-stop-shop’ for ocean shipping companies. This pioneering approach to container tracking, operations management and document handling brings the somewhat outdated back-office processes of the shipping industry up to speed and onto the cloud. Locus’s Odyssey platform is already proven to the market, becoming popular thanks to its powerful integration with ecommerce capabilities and collaboration tools. Existing customers and strategic partners alike reap the benefits of working with a company where the management team have in-depth industry knowledge and proven technology business experience. Partnerships with influential members of the shipping sector, WNS and INTTRA, only strengthen Locus’s growing reputation, ensuring that Odyssey is the obvious software solution for the liner shipping industry. In order to keep up with growing demand Locus Software will be using the funding to expand the development team and enhance their working facilities. Thus allowing them to quickly and efficiently implement the system for new customers. John Squire, Founder & CEO at Locus Software comments, “Our Odyssey Platform is currently the only cloud based solution available in the ocean shipping sector. So many other sectors have made the transition to cloud based databases and management systems and now the shipping industry is ready to embrace this upgrade too. Odyssey can deliver fantastic features in a much more cost effective and speedy process than traditional software with the added bonus of not needing to maintain multiple versions and the disruption of major upgrades.” Derek Ellis, Fund Manager at the FSE Group, “The Odyssey platform is a complete game-changer in the shipping industry. It already has users in more than 40 countries across the world and the potential is there for rapid growth. These are really exciting times for the company and we wish John and his team all the success for the future.” Dr Mike Short, CBE Chairman of Enterprise M3 Local Enterprise Partnership (LEP), said: “This is a great timing for Locus Software and a testament to the recently released Science and Innovation Audit for the South of England, which demonstrates our regional economy’s strength in applying innovative technology to the Marine & Maritime sector. We are excited that the company has secured the loan they need to expand, drive efficiencies in the maritime sector and create more jobs for our LEP area.” The Enterprise M3 Funding Escalator is a £5.5m initiative funded by Enterprise M3 Local Enterprise Partnership. It includes a growth equity fund and provides eligible companies with loans and equity funding of £50,000 to £200,000 for activities delivering high-growth and employment opportunities. For more information about Locus Software visit: www.locussoftware.com
A business specialising in software for customer contact centres is the latest company to receive investment from the Enterprise M3 Growth Fund. The Farnborough based venture has secured the funding as part of a £900,000 round which includes £195,000 angel monies facilitated by The FSE Investor Network, alongside institutional investors.
Sentiment’s offering focuses on providing large businesses with an effective platform to deal with the increasing amount of customer contact that is made via social networks and messaging apps. Within the next few years it is anticipated that social media and messaging apps will overtake phone and email as the primary method for customer service interactions. However, the majority of contact centres do not believe their technology is fit for purpose and are looking for better ways to manage these exchanges.
Leon Chaddock, Sentiment Founder, CEO and CTO, explains: “our software allows large enterprises to manage enquiries and complaints on social media outlets such as Facebook and Twitter, from within their contact centres – currently this is mostly done separately as it requires different skills and technology. By bringing these functions together, our clients benefit from significantly reduced spend in this area along with a facility to integrate their contact with other areas of the business and improve their customer relationships – a large retail clients has, with our software, become one of the fastest social media responders in the UK.”
With a platform offering a solution unmatched by its competitors, Sentiment has a strong and growing pipeline adding to its list of existing clients, which currently includes several top 20 retailers, a global online marketplace and a parcel delivery company. The funds raised will be used to scale up sales and marketing both within the UK and overseas, particularly the US where it is already growing traction.
Ralph Singleton, Fund Manager at The FSE Group which manages the Enterprise M3 Growth Fund, adds: “this is a sector experiencing huge growth that is set to continue; spending on social monitoring and management tools is expected to grow nearly tenfold in the 5 years between 2014 and 2019, which will see global spend reach around £18 billion in that time. With its superior product offering, growing blue chip client base and first mover advantage, Sentiment is well-positioned to take advantage of this upsurge and we are delighted to be supporting them on their journey.”
Dr Mike Short, CBE Chairman of Enterprise M3 Local Enterprise Partnership (LEP), comments: “We are excited that the growth ambitions of Sentiment can be supported by the Enterprise M3 Growth Fund. Our LEP area is a powerhouse for digital enabling technologies and we are always keen to support businesses like Sentiment that demonstrate strength in this important sector.”
The Enterprise M3 Growth Fund is part of the Enterprise M3 Funding Escalator, a £5.5million initiative funded by Enterprise M3 Local Enterprise Partnership. The escalator, which also includes an expansion loan scheme, provides eligible companies with loans and equity funding between £50,000 and £200,000 for activities that will deliver high-growth and employment opportunities.
Since its first Regional Growth Loan from Finance East in 2014, Cambridgeshire based Vetstream has continued to provide detailed online clinical information services to the veterinary sector, worldwide.In that time the company has extended both its product range and geographical reach and is now ready to invest in significant growth. A second Regional Growth Loan of £150,000 has been secured to aid this expansion.
Its core ‘Vetlexicon’ offering contains a range of species based modules providing vets across the globe with peer reviewed material, which is updated on a weekly basis. The information, which is available on a subscription basis, contains thousands of articles, images, videos etc. in numerous categories, to support vets in their clinical practice. Since 2014 the Vetlexicon suite has expanded from its original four modules – Canis (dog), Felis (cat), Equis (horse) and Lapis (rabbit) – to now include Exotis (covering a range of species from Guinea Pigs to “exotics”) and soon Bovis (cattle) will also be added.
Vetstream Managing Director, Dr Mark Johnston, says: “As well as developing new modules, we have concentrated heavily on increasing our traction in new markets. We have established a relationship with the World Small Veterinary Association (WSAVA) which has resulted in Vetlexicon now being available in all of their 82 country members, with licences currently secured in 21 countries. We have made good progress since our first loan from Finance East – there have been some challenges to overcome but we have learnt from them and are in a stronger position to step up our expansion and really take advantage of the global opportunities now open to us.”
The funds will be used to support the overall growth strategy. In terms of product this will initially focus on launching the Bovis module and extending the Exotis module then, over the next four years, see the development of Suis (pig), Ovis & Capris (sheep and goat) and Piscis (fish). This will be accompanied by an investment in marketing and the creation of new roles including an advertising sales manager and a business development manager. In addition to the core Vetlexicon product suite, further opportunities are being exploited in the provision of Vetacademy, an online CPD management system, and Practis, an online support tool for practice managers as well capitalising on advertising revenue potential.
Stuart Ager, Senior Fund Manager at Finance East, adds: “The Vetstream team has developed a clear product development and enhancement strategy, supported by new personnel and marketing investment, designed to achieve considerable growth across the business. The global animal health market is on the increase, having gone from $13billion to $15billion since our last loan. Vetstream has established itself as a leading provider of quality information and, with no obvious competition in the sector, is well-positioned to build on its early success.”
The Regional Growth Loan Scheme (RGLS) is managed by Finance East, part of The FSE Group, on behalf of Local Enterprise Partnerships in the East of England and British Business Bank. The RGLS is available to established, incorporated businesses based within the East of England that have a minimum annual turnover of £100k, show strong growth potential and have a medium to long-term funding requirement to deliver that growth.
A Hampshire company is set for growth with the help from a £90,000 loan from the Enterprise M3 Expansion Loan Scheme. Based in Bentley, near Alton, ATP Projects provides bespoke manufacturing, branding, laser marking and technical support services, helping companies across the country to stand-out from the crowd.
The company was founded in 2013 by Managing Director Andrew Pennington, who has extensive experience in the engineering and audio-visual sectors. As well as providing customised services the company also offers a wide range of standard manufactured products geared towards the theatre and entertainment sector.
Andrew Pennington commented, “We are a small but growing firm focused at giving a personal service to our customers. Everything we produce is carried out in-house and we pride ourselves on the quality of our work. This funding will allow us to expand our team with the recruitment of a new manufacturing technician and also help us with the development and roll-out of our new eCommerce platform. The platform will include a custom panel builder, allowing clients to design their own panel work on-line, which will enable us to reach businesses of all sizes.”
James Edwards, Senior Fund Manager at the FSE Group, “Andrew has a great deal of experience in the engineering sector and in a short space of time has developed an impressive list of clients across the entertainment and sporting industries. We are looking forward to working with the team at ATP Projects whilst they achieve their full potential for growth.”
Dr Mike Short, CBE Chairman of Enterprise M3 Local Enterprise Partnership (LEP), said: “We are pleased to see ATP Projects benefit from our Expansion Loan Scheme. The investment will help them overcome the financial barriers to expansion, create new jobs and thrive. Small and medium scale businesses contribute significantly to our regional economy, so a key priority in our Strategic Economic Plan, is to support this important sector by delivering the infrastructure that enables businesses to innovate, improve productivity and drive sustainable economic growth in our LEP area.”
The Enterprise M3 Funding Escalator is a £5.5m initiative funded by Enterprise M3 Local Enterprise Partnership. It includes a growth equity fund and provides eligible companies with loans and equity funding of £50,000 to £200,000 for activities delivering high-growth and employment opportunities. For more information about ATP Projects visit: www.atpprojects.co.uk
SME Web Accountants Ltd (SWA), led by Sean Hackemann, advised the Management Team of Ignite Data Limited (Ignite) on its development capital fundraising with debt funding provided by the Thames Valley Berkshire Expansion Loan Scheme.
The funds will be used to accelerate Ignite’s growth strategy and for working capital purposes. SWA provided financial modelling and advisory services to the Management Team. Based in Reading, Ignite Data designs and delivers smarter research solutions in the real-world using electronic healthcare records (EHR) and outcomes data. Ignite’s technology enhanced solutions allow its pharma and clinical research organisation (CRO) clients to Find Sites for research and clinical trials, Recruit Patients for their research and Manage EHR Data.
Dan Hydes, Managing Director, Ignite, commented: “Within very tight timeframes Sean worked with us to develop a robust integrated financial model that was central to us raising with funds with FSE Group.”
Cheryl Weeks, Fund Manager at The FSE Group, which manages the TVB Expansion Loan Scheme on behalf of Thames Valley Berkshire Local Enterprise Partnership (LEP), comments: “To date Ignite Data has built up an impressive list of clients, which include a wide range of leading pharmaceutical and NHS organisations. We were instantly impressed with the technology behind Ignite and are delighted to be supporting Dan and his team in the next stage of their growth. We wish them all the success for the future.”
Sean Hackemann, Director, SWA, commented: “We are delighted to have assisted the Management Team in raising development capital to accelerate Ignite’s growth and facilitate this cutting-edge business to further carve out a niche in the pharma and research sector. This transaction is a great example of how our growth services help ambitious SMEs obtain development capital in a really challenging funding space.”