BBOXX lands £24.08 million deal with Africa Infrastructure Investment Managers

13 January 2019 – 10 million people will gain energy access following a deal between BBOXX, a next generation utility platform, and Africa Infrastructure Investment Managers (AIIM). AIIM, though its AIIF3 fund, is investing USD 31 million for a minority stake in BBOXX’s operations in Rwanda, Kenya and the Democratic Republic of Congo (DRC).

The deal with AIIM – Africa’s largest and most experienced infrastructure-focused private equity fund manager and a member of Old Mutual Alternative Investments with USD 2.1 billion AUM – will allow BBOXX to install two million solar systems by 2022, bringing electricity to 10 million people in these African countries.

This investment will accelerate the roll-out of BBOXX’s solar systems which combine solar panels and batteries with pioneering technology, available on a pay-as-you-go basis via mobile money.

The funds will be applied across BBOXX’s distribution mix, positively impacting a range of customers including households, schools and SMEs across rural, urban and peri-urban regions. It will help in enabling economic growth in these communities by creating new markets through the entry point of electricity.

Mansoor Hamayun, CEO and co-founder of BBOXX, said: “This latest deal with AIIM shows BBOXX’s commitment to mobilising greater investment and capital in the off-grid sector, through partnering with major global companies.

“AIIM’s investment will turbo-charge our operations in Rwanda, Kenya and the Democratic Republic of Congo. This will allow us to scale rapidly and continue to drive disaggregation in what has traditionally been a vertically integrated market.

“We look forward to working together to power economic growth and transform the lives of underserved communities, by creating a platform which will bring access to affordable utility provision and value-added services.

Jurie Swart, CEO of Africa Infrastructure Investment Managers (AIIM) added: “We are delighted to be working with BBOXX to expand off-grid solar electricity to millions of people previously without access to basic utilities. BBOXX shares our vision to remove barriers to economic growth and facilitate the development of Africa’s economies.

“It is also telling that an infrastructure fund like ours is backing distributed solar through investing in a company of the calibre of BBOXX. It reflects both the ambition of BBOXX and the maturity of the off-grid sector.”

This AIIM investment is the latest in a string of deals that has seen BBOXX forge strategic partnerships across the industry, working with leading global electricity company EDF in Togo, world-leading telecommunications firm Orange in West Africa, as well as technological partners, investment institutions and local governments, to expand energy access at scale.

BBOXX has brought electricity to 750,000 people in frontier markets, with substantial operations in countries including, Rwanda, Kenya, Togo, the DRC, Nigeria and Pakistan.

About Africa Infrastructure Investment Managers (AIIM)

AIIM, a member of Old Mutual Alternative Investments, has been investing in the African infrastructure sector since 2000 with a track record extending across seven African infrastructure funds. AIIM currently manages USD2.1 billion in assets across the power, telecommunications and transport sectors with operations in 15 countries across East, West and Southern Africa. As a leading infrastructure manager across Africa, central to AIIM’s investment objectives and processes is its commitment to responsible investments. AIIM is committed to fulfilling fiduciary duties as the custodian of shareholders’ and beneficiaries’ long-term interests. In this regard, AIIM considers the incorporation of environmental, social and governance (ESG) factors into its investment and ownership processes to support the pursuit of creation of positive futures and obtaining sustainable, superior risk-adjusted returns for its clients.

BBOXX Media Enquiries:

Please contact:
Kia McLean, Instinctif Partners, bboxx@instinctif.com / +44 (0) 207 457 2845
Simran Lalli, Instinctif Partners, bboxx@instinctif.com / +44 (0) 207 457 1407

Africa Infrastructure Investment Managers (AIIM) Media Enquiries:

Please contact:
Sara Firouzyar, Gong Communications E: AIIM@gongcommunications.com T: +44 (0) 207 935 4800

Rayhana Erasmus, African Infrastructure Investment Managers (AIIM)
E: Rayhana.Erasmus@aiimafrica.com T: +27 21 670 3962 M: +27 72 091 3563

Draper & Dash, AI Healthcare Data and Analytics firm secures £3m venture funding from Guinness Asset Management

Draper & Dash, the healthcare focused data analytics platform that has changed how hospitals and care providers access, understand and work with patient data, has raised £3m in venture funding from Guinness’ EIS Funds.

The company’s SaaS-based analytics platform uses advanced data science and machine learning techniques to predict patient flow and demand for hospitals and care providers. The platform supports healthcare systems to improve patient flow, drive cost improvement programs, create new strategic partnerships and ultimately improve health outcomes.

Draper & Dash has already successfully deployed its software into over 20 public and private hospitals and healthcare providers in the UK, US and Australia including the Royal Free London, Guy’s & St Thomas’ NHS Trust and Royal Melbourne Health, delivering significant cost savings and operational efficiencies for its clients.

The new investment from Guinness Asset Management’s EIS Funds will allow Draper & Dash to continue to develop its product offering as well as grow its sales and marketing resource to expand into new territories. In 2019 the company plans to extend the capabilities of its industry-leading AI and ML integration for both its UK and international clients enabling even greater predictive analysis and personalised care for users.

Orlando Agrippa, Founder and CEO of Draper & Dash, said “our software platform business has been accelerating significant recently and so we are raising capital to scale the business through increased penetration of our existing customers and territories, as well as converting our expanding pipeline of new prospects. We have tripled our AI and ML investment over the last year through a number of long-term projects with existing customers.

Our strategy continues to focus on real value creation with better outcomes for healthcare providers and their patients. As outcomes, efficiency and patient flow becomes more of a challenge globally, I’m fortunate to lead a team of people who are all dedicated to advancing the capabilities of data analytics in healthcare and improving care delivery.”

John Spearman, Chairman of Draper & Dash, added: “This is an important step for D&D. The value and potential of the company has been recognised now, not just by enthusiastic early investors, but also by a highly respected and well known fund.”

Edward Guinness, Fund Manager at Guinness EIS Fund, commented “We look forward to working on building this business into a substantial contributor to service improvements for both public sector and private healthcare providers. We were impressed by Orlando’s team and have received positive feedback from customers on the Draper and Dash products. Draper & Dash have an attractive proposition that should be in more hospitals and healthcare providers and we hope that our funding will allow the company to extend its reach.

Eddie Harding, Partner at ICON Corporate Finance who advised management on the funding round, added “I’m delighted to have assisted Orlando and his team in raising this venture funding from Guinness. Draper & Dash’s analytics platform makes a real impact in driving efficiencies at healthcare providers globally, and most importantly improving patient outcomes.”

Opsview accelerates its growth plans with funding from SaaS Capital

Opsview, the company that unifies cloud and infrastructure monitoring, today announced that it has secured funding from SaaS Capital.Jan 09, 2019  

Opsview, the company that unifies cloud and infrastructure monitoring, today announced that it has secured funding from SaaS Capital, the leading provider of Committed Credit Facilities to software-as-a-service (SaaS) companies.

“We have scaled Opsview so far using only angel funds, but with the massive growth opportunity available to us, we wanted a partner that could provide the investment required to support our next phase of growth,” said Mike Walton, Chief Executive Officer.  “With SaaS Capital we get access to significant capital without the dilution that comes with other options, and we get a knowledgeable partner that really understands the structure and needs of a recurring revenue business.”

Opsview is a modern, scalable monitoring platform that provides unified insight into dynamic IT operations on-premises, in the cloud or hybrid. With many blue-chip customers across the globe, Opsview is trusted to help them monitor and provide visibility into their IT ecosystems. Keeping the lights on in IT has never been so important as IT outages have the potential for reputational damage as well as financial losses.

“With IT environments becoming more complex, now more than ever, it is important that organizations have a unified monitoring platform across their entire IT estate,” said Todd Gardner, Managing Director of SaaS Capital. “The Opsview team knows this space extremely well, and we are excited to partner with a company that has such great momentum.”

About Opsview

Opsview provides unified insight into dynamic IT operations on-premises, in the cloud or hybrid. Opsview is a modern, scalable monitoring platform that enables digital transformation. Opsview is trusted by hundreds of businesses, government organizations and service providers globally. Customers include Sky, Cisco, IBM, Comcast, Telefónica, PayPal, BT, Norfolk Southern, CIT, Fujitsu, HMRC and AAA. To find out more, visit www.opsview.com

About SaaS Capital

SaaS Capital is the leading provider of long-term Committed Credit Facilities to SaaS companies. Focusing exclusively on the SaaS business model, SaaS Capital delivers faster decisions, more capital, and longer commitments. SaaS businesses have used SaaS Capital’s Committed Credit Facilities, instead of equity, to finance growth and create hundreds of millions of dollars in enterprise value without sacrificing significant ownership or control. SaaS Capital has offices in Cincinnati and Seattle. Visit www.saas-capital.com to learn more.

Press Contacts:

Helen Carroll/VP Marketing at Opsview

0118 324 9021

Geraldine Fernandez, Account Director at Say Communications

0208 971 6400

Clinithink secures growth-equity investment to fuel growth from TT Capital Partners and MSD Global Health Innovation Fund

Leading healthcare technology investors partner with Clinithink to unlock the potential of unstructured data to inform treatment decisions, identify candidates for clinical trials, and ensure appropriate reimbursement

Clinithink, which offers healthcare and life sciences organizations powerful clinical data insights through its patented CLiX natural language processing (NLP) platform, has secured a growth-equity investment from TT Capital Partners (TTCP) and the MSD Global Health Innovation Fund (GHI) to expand its global footprint and continue to broaden its service offering.

Clinithink CEO, Dr Chris Tackaberry said: “We are delighted to have been able to close this latest round of funding with TTCP and MSD GHI. Not only because it enables us to expedite our growth but, strategically, we now have two further partners whose business is all about innovation.”

Narrative clinical patient data is a valuable asset in healthcare that has historically been inaccessible due to its lack of structure and the reliance on structured data and key word searches to interpret and understand this information. Clinithink’s CLiX technology uses market-leading artificial intelligence (AI) technology to accurately ‘read’ and interpret up to two million clinical documents an hour, impacting patient care across the healthcare continuum:

  • Precision medicine: Evidence suggests that phenotype is at least as important as genotype in diagnosis and the development of new treatments. Clinithink compares a patient’s extracted phenotype with over 12,000 phenotypes and over 15,000 synonyms describing the characteristics of thousands of rare diseases. Recently, Clinithink was part of a collaboration which achieved a GUINNESS WORLD RECORDS™ title for the fastest genetic diagnosis. The project successfully compressed the time needed to diagnose rare genetic disorders in newborns through DNA sequencing and phenotype analysis to 19.5 hours in a seamless end-to-end process. Clinithink participated in this exciting project with Rady Children’s Institute of Genomic Medicine (RCIGM), San Diego, California and its partners. This work also received a RARE Champion of Hope award from Global Genes® recognizing the contribution to rare disease diagnosis.
  • Patient matching for clinical trials and Real World Evidence (RWE) studies: An estimated 85% of all clinical trials will experience delays, with 94% being delayed by over a monthThe financial impact can be massive, costing between $600,000 – $8 million every day. Many delays are caused because sites struggle to find and recruit patients. Clinithink automates the review of a hospital’s clinical notes and connects physicians and patients with clinical trials. Clinithink also helps leading biopharma and contract research organizations (CROs) with site selection and protocol optimization in order to accelerate drug development and get promising new therapies to patients by leveraging its solution to support real world data analysis.
  • Revenue cycle management (RCM): RCM is estimated to be a $90 billion market by 2022, representing the growing importance of capabilities that help optimize the healthcare system. Clinithink provides revenue cycle management capabilities to help hospitals and health systems review clinical documents to verify the appropriateness of diagnostic tests and treatments, while ensuring appropriate reimbursement.

“Clinithink has a proven track record of turning data and information into actionable insight for its biopharma and healthcare provider customers,” said Conor Green, Partner at TT Capital Partners. “We look forward to collaborating with Clinithink’s world-class team as they continue to improve the lives of patients around the world.”

“The ability to capture meaningful information from narrative clinical data across the healthcare spectrum is critical to driving innovation.” added Prem Tumkosit, Investment Principal at MSD Global Health Innovation Fund LLC, “We believe these capabilities have the potential to make a major contribution to changing the way healthcare is delivered.”

HealthTech startup C7 Health raised £300,000 Seed Investment

  • Warwickshire business C7 Health’s innovative software platform is set to significantly reduce waiting times for diagnostic scans
  • MEIF funding means product could be servicing patients within six months
  • Firm set for first recruitment drive following the product’s launch in August this year

Innovative clinical services tech firm, C7 Health, has accelerated the build process of its healthcare software platform thanks to significant financial support from the Midlands Engine Investment Fund’s (MEIF) Proof of Concept (POC) & Early Stage Fund.

Part of a £300,000 finance package, underwritten by Mercia Fund Managers, including £150,000 from MEIF POC and £150,000 from Mercia EIS funds, the cash injection has enabled the firm to build and test the platform that will streamline the process of essential diagnostic scans for patients – minimising administration for GPs and reducing waiting times for NHS users.

Set up in April this year in Henley-in-Arden, Warwickshire, C7 Health is the brainchild of Phil Webb, former chief technology officer at medical tech giant EMIS Group. With some NHS users waiting up to six weeks for their ultrasound scans and over 40 million diagnostic scans directed from England’s 7,500 GP surgeries every year, Phil spotted an opportunity to modernise the current process – with GPs, diagnostic providers and most importantly patients all set to benefit.

The MEIF funding has meant that the first version of the platform is now complete and C7 Health will begin work with its first ultrasound customer, Diagnostic World, to service GPs across England this month.

Phil Webb, CEO of C7 Health, said:

“As a clinical services-led company, C7 Health’s mantra is to work shoulder-to-shoulder with healthcare providers to deliver solutions that will benefit patients – rather than develop products that are great in theory, but fail to make a real difference.

“The idea of creating a software platform that enables GPs to send automated instructions to their diagnostic providers, rather than going through a convoluted administrative process, is something that can revolutionise diagnostics in the NHS – however, I would not have had the means to build this without equity finance.”

“The West Midlands is brimming with talent, and I expect to appoint a minimum of three employees within the coming months as we begin helping patients on the ground. With C7 Health looking to serve GPs throughout the UK, Warwickshire’s central location is also a massive benefit to the business.”

Ken Cooper, MD at the British Business Bank, commented:

“The Midlands Engine Investment Fund has been established to support the growth of companies like C7 Health. This funding, via Mercia Fund Managers, will provide a real opportunity for this Midlands-based company to make a national impact in improving patient care.”

Commenting on the investment, Julian Dennard, Fund Principal at Mercia, said:

“We are excited to work with Phil, a CEO with extensive industry experience, who has created a platform that increases the efficiency of service delivery with an innovative technology at its core. This funding will allow C7 Health to further develop its software as it offers an exciting opportunity to truly disrupt the healthcare sector.”

Jonathan Browning, Chair of the Coventry and Warwickshire LEP, said:

“Coventry and Warwickshire has a long-standing pedigree of innovation. Many of our companies are leaders in research and development, and we have a very strong digital sector, and C7 Health is an example of that.

“Its cutting-edge work will bring tangible benefits and this funding through the Midlands Engine Investment Fund will accelerate bringing its app to market for the benefit of all.”

The Midlands Engine Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.

Money-saving App Firm, yboo, Secures £650k Seed Investment to Support Growth Strategy from Angelfish

Yorkshire based technology firm, yboo, received over £650K in investment to support its ambitious growth plans over the next twelve months.

yboo, which was established in 2016 by Martyn Gould and Paul Doyle, is a mobile phone application that compares SIM only deals from the UK mobile market by measuring consumer usage to match them with the best deal and saves the UK consumer on average £156 per year on their mobile phone bill.
The company has received significant equity the investment from Angelfish Investments Plc.

Angelfish and yboo are continuing negotiations with the aim of further increasing the equity holding and to provide a debt facility that will allow yboo to continue with accelerated product development and begin its UK and international roll-out campaign.

Andrew Flitcroft, Finance Director of Angelfish commented:

“Angelfish is delighted to increase its holding in yboo and to be negotiating the potential injection of substantial funds to secure the rollout and expansion of the yboo model. In the last few months, since the initial funding, yboo has significantly advanced the technology behind the model and attract considerable trade interest within the price comparison sector.’’

As part of the negotiations, Richard Walker, Non-Executive Director of Angelfish, has been appointed as a Director of yboo. Richard’s role will be to support the team from a financial standpoint; negotiating any trade sales, supporting the business for an IPO in April 2019 and tracking overall revenue projections.

In addition to the investment from Angelfish, yboo has also received support from Access to Finance to prepare them to pitch in front of their investor network, from which they were able to secure an additional £150,000 in funding.

Over the course of the next 12 months, yboo will be launching its B2B portal, providing UK mobile operators with anonymised data allowing them to understand their target audience’s behaviours, rank their products against the rest of the market and create products that increase connections
and ultimately compete with other providers.

yboo are also in negotiations with partners to launch yboo in the Middle East and Australia.

Martyn Gould, Founder of yboo commented on the investment injection:

“We are absolutely delighted to announce the investment yboo has received; we have some incredibly exciting developments, which includes our B2B portal that we will be rolling out at the end of July. This product has a strong future roadmap and we anticipate that it will have a huge impact on UK mobile operators and their propositions.”

“The future for yboo looks incredibly bright. We have always been committed to bringing job opportunities into the Holme Valley and as the business grows we hope to see our winning team expand as well; we are dedicated to providing training and development to our staff as well as offering our a staff share options which equate stands at 5% of the total company shareholding.”

END

Notes to editors
For media enquiries:
Sarah Benson
KC Communications
sarah@kccomms.co.uk
07917 752 259 / 01484 637 980

About yboo:
yboo is a team of people who deliver technology which solves real problems for 60 million smartphone using consumers in the UK as well as every UK Mobile Network.

Founded in 2016 by Martyn Gould, yboo is a free app which matches consumers to the right mobile deal based on price and signal strength where they work, live and hang out.

  1. Download yboo
  2. Use your smartphone as normal
  3. Sit back and wait for you results then click through to switch

yboo also provides Mobile Networks with rich data sets allowing them to understand consumer behaviour and needs in granular detail. With unique products which can operate effectively in any country and strong product loyalty, yboo has a bright future.

yboo | Bridge Mills, Holmfirth, HD9 3TW
yboo.co.uk | info@yboo.co.uk | Twitter: @ybooUK

e-invoicing vendor, CloudTrade closes £2m investment round from Calculus Capital

LONDON, ENGLAND, 27 July 2018 – CloudTrade, the leading provider of cloud-based e-invoicing, e-order and complex data capture services,has today announced the completion of its first investment round, securing a £2million injection from Calculus Capital.

The funds will accelerate expansion of CloudTrade’s services in the US and EMEA, while bolstering the business’s second stage global growth, which currently stands at over 40% YOY globally. The newly raised funds will also increase CloudTrade’s ongoing team expansion and deepen its research and development into complex data extraction, and its application into different solutions and sectors.

Founded in 2010 by the current management team – David Cocks, Richard Manson and Richard Develyn – CloudTrade enables companies to evolve past their reliance on paper, and transact digitally with their trading partners, irrespective of size or technical maturity. CloudTrade is now one of the fastest growing e-invoice and e-document networks, connecting over 200 organisations to thousands of their trading partners, electronically, across numerous sectors and regions across the globe.

CloudTrade’s core platform, which is protected by lasting patents in Europe, the U.S. and Australia, uses unique rules-based technology with backward tracking search, to interpret, validate and extrapolate semantic meaning from documents of any type: including invoices, sales and purchase orders, advanced shipping notices and other complex, data rich documents.

David Cocks, CloudTrade’s co-founder and CEO, says: “It might sound a bit old fashioned, but the team and I were determined to prove that we had a business solution and model that worked, before we spent other people’s money. There is no doubt that we have proved that; with the business growing at over 40% YOY globally and now processing over 30,000 documents per day.  We are delighted to welcome Calculus on-board as investors, and we’re excited to see that growth continue in both our existing and new markets across the globe.”

Richard Moore, Investment Director, Calculus Capital, said: “What the team at CloudTrade have done is to streamline the Purchase-to-Pay and Order-to-Cash processes. Utilising its market-leading, patented technology, CloudTrade provides a uniquely simple and non-disruptive way for trading partners to send electronic invoices, orders and other business documents, straight into the receiving organisation’s processing application. By doing that, CloudTrade enables users to extract maximum insight and data from those documents, to fully automate and integrate them into their downstream systems. Accelerating both the end-user’s digital transformation journey and the efficiency of their business, and ensuring users see back office savings in the region of 60% with supplier adoption rates of over 80-90%.”

“Our investment will help CloudTrade to strengthen their global sales and support teams, expanding their platform to cover additional languages and bolstering their presence in the European and US markets. We believe this is an exciting, second phase in the development of a ‘Little British Battler’ with strong global growth potential.”

John O’Connell, founder and CEO of the Scale-Up Group (SUG), who introduced Calculus to CloudTrade and whose SUG members have also invested in CloudTrade, says: “We created ScaleUp to help take successful technology start-ups to an even higher level of achievement, in terms of capability and international growth, to become global champions. CloudTrade is a great example of exactly that. We at SUG look forward to supporting David and the team on the acceleration of their very successful journey so far.”

CloudTrade was among the first six UK tech SMEs selected to participate in TechMarketView and Scale-Up Group’s inaugural Great British Scaleup programme event in June 2017 (CloudTrade: from ‘Battler’ to Scale-Up) having previously graduated from the TechMarketView Little British Battler programme in April 2016 (LBB CloudTrade – making e-invoicing easy).

Further information on CloudTrade’s continued growth

Over the last year, CloudTrade has grown the business through new partners, including IBM, DXC (formerly Hewlett Packard Enterprise), SAP Ariba, BT, Cegedim, Opus Capita and SupplyOn, and from an increase in projects through existing partners. This corresponds to a 20% increase in partners, and a 30% increase in end-customers using the service.

Richard Manson, CloudTrade’s co-founder and Commercial Director, explains: “Transaction volumes are the key to growing our business and the fact that we have doubled these volumes over the last couple of years demonstrates our strong business growth. As today’s investment shows, 2017-18 has been a year of solidifying the business, at the same time as expanding and futureproofing it.

“In terms of our customers, we feel that we have ‘crossed the chasm’ as a technology company and have moved in to an ‘early majority’ customer audience. It is an exciting time for us all and we look forward to helping more businesses with their digital transformation and automation journeys.”

Transaction volumes – the number of e-invoices and other documents being processed through and by CloudTrade’s platform – have more than doubled over the last couple of years from 3 million documents in 2016 to a current run rate of 8 million, and revenue has increased over 40% year on year. CloudTrade forecasts a similar increase to March 2019.

About CloudTrade

CloudTrade is one of the fastest growing e-invoice and e-document networks, connecting over 200 organisations to thousands of their trading partners electronically across numerous sectors and regions across the globe. Founded in 2010 to offer a fresh approach to e-invoicing, CloudTrade enables companies to evolve past their reliance on paper and transact digitally with their trading partners, irrespective of size or technical maturity. CloudTrade’s unique, patented technology, delivers services not widely seen in the market, in a cost-effective way. CloudTrade’s software is protected by lasting patents in Europe, the U.S. and Australia. For further information go to: http://www.cloudtradenetwork.com/ or contact Nick Jones; 07832 115362, nick.jones@cloud-trade.com.

How CloudTrade’s solution works

CloudTrade’s patent-protected software uses unique rules-based technology with backward tracking search, to interpret, validate, and extrapolate semantic meaning from complex documents, of any type. So, whether its invoices, sales and purchase orders or advanced shipping notices, CloudTrade processes them automatically and cost effectively.

Although CloudTrade offers organisations several ways to send complex business documents (including direct XML / EDI), by far the most popular approach is for an organisation to simply send an application generated PDF via email.  When an application generates a PDF, in almost all instances it will be a text PDF. CloudTrade reads the document text straight from the PDF, without the use of OCR – which guarantees 100% quality.  PDF documents are easy to use and out-of-the-box with most ERP and accounting packages. As a result, typically >90% of organisations (irrespective of shape or size!) when asked will send PDF documents – including invoices, sales and purchase orders, advanced shipping notices and other complex, data rich documents.

YFM invests £4m Series A in Matillion

YFM Equity Partners (YFM), the specialist private equity fund manager, alongside private co-investors, has backed a £4m investment into Matillion Limited (Matillion), a leading provider of cloud-based integration technologies. YFM’s funding includes investment from its 2015 YFMEP LP Fund, which co-invested alongside YFM’s advised VCTs.

Founded in 2011, Matillion builds disruptive software which helps companies with structured data integration to the Cloud. An Amazon Web Services (AWS) Advanced Technology Partner, Matillion is one of Amazon’s few AWS Big Data Competency holders worldwide. Its two key products include a data integration platform that has a rapidly growing portfolio of Fortune 500 and “Born-On-The-Cloud” “tech” customers, as well as a SaaS offering, delivering powerful business intelligence and easy-to-use self-service reporting for customers across the UK, United States and EMEA.

As part of its investment, YFM has introduced Pieter Knook as a non-executive Chairman who brings a wealth of technical and commercial expertise. Pieter spent 18 years at Microsoft, becoming one of the top 25 executives and was a member of a number of Boards at Vodafone and holds several non-executive and chairman positions. Pieter is joined by non-executive Director Brian Gentile, whose career also spans leading technology companies, including NCR Corporation, Apple, Sun Microsystems (now Oracle) Jaspersoft and TIBCO Software.

Headquartered in South Manchester, Matillion opened its first international office in New York last month. The company will continue to be led by experienced industry professionals Matthew Scullion, Peter McCord, Ed Thompson and Kristian Everard.

Commenting on this investment, Deborah Heyes, Investment Director at YFM, said: “Matillion has a great opportunity to capitalise on the push to migrate data and systems to the Cloud. Its data integration platform is 100 times faster and easier to use than traditional ETL technology. We have been impressed by the team’s commitment to becoming the de-facto choice for unlocking the power of cloud-based databases and are excited to back their future growth plans.”

Matthew Scullion, MD at Matillion, added: “YFM was unique amongst the private equity firms we met in understanding the immense opportunities that stem from delivering cutting-edge structured data integration capabilities for the growing number of businesses, large and small, that are exploiting cloud-based database technology. We are delighted to have YFM’s backing and are looking forward to working together with the team, Pieter and Brian to become the leader in next-generation Data Integration.”

Matillion was advised by King & Wood Mallesons (Janine Suttie and Ylan Steiner) and Icon Corporate Finance (Eddie Harding); YFM by DWF LLP (Jonathan Robinson, Vicky Ross and Nick Hawthorne).

Financial due diligence was provided by RSM Corporate Finance LLP (Russell Armstrong); Commercial due diligence by Plural Strategy (Phil Stone and Jamie Berridge) and Human Resource DD by Anna Cornwallis at Stratton HR.

Source: http://yfmep.com/yfm-equity-partners-backs-4m-investment-in-matillion/

IN-Part secures £300,000 Seed investment from Mercia

Mercia Fund Management (MFM), a leading technology investor with a focus on the Midlands, the North and Scotland, has made its first investment into IN-PART, which streamlines the discovery and commercialisation of innovative academic research.

The investment, which totals £300,000 and will allow IN-PART to build on its team to accelerate international expansion, implement new marketing initiatives, and continue product development, which will see new features added to the service.

IN-PART has offices situated in Sheffield, based at the Kroto Innovation Centre, as well as in Central London, providing a convenient solution for university technology transfer offices (TTOs) and businesses – from SMEs to blue chips – to find and collaborate with each other.

In November, the company beat more than 100 digital companies to be crowned as one of Tech North’s Northern Stars, a competition aimed at identifying the top ten digital start-ups in the North of England.  The winning package will see the founders travel to the SXSW festival in Austin, Texas, to showcase the IN-PART system.

Unlike other similar platforms, IN-PART is specifically for university research, which has traditionally struggled to communicate with businesses, due to the lack of simple communication channels between relevant, engaged parties. Previously, university business teams have relied on ‘cold-contact’methods, without any prior information on who the most suitable person is to speak to within the target company.

IN-PART’s system provides a clear, concise and relevant catalogue of high-quality contacts, all of whom must work both in industry and R&D in order to gain access to the platform. It allows companies to perform tailored searches for research that could be a potential asset to their business, whilst also helping universities and TTOs to display their current academic developments.  The service also provides detailed metrics in ‘Impact Reports’, along with tailored support for universities subscribing to the system.

Since its launch in January 2014, IN-PART has gone from six universities and 25 companies to 50 universities and over 400 companies using the platform. IN-PART is now looking to expand its services to the USA, Asia and Australia, and has already identified key early adopters in each jurisdiction ahead of further internationalisation in 2016.

Patrick Speedie, Co-Founder of IN-PART, said:

“We’re extremely excited about moving into the next stage of IN-PART’s development as we look to add additional features for both university and company users, as well as expanding into new international markets, and Mercia Fund Management represents an ideal investment partner to help evolve our system.  We’ve been very impressed by MFM’s knowledge of technology transfer and the difficulties surrounding university/industry collaboration, and we feel confident that they share our vision for connecting the sectors in a new and intuitive way.  Together, we feel we can have an even greater impact on bringing university research to the wider world.”

Dr Robin KnightCo-founder, IN-PART, also commented:

“This investment marks the next chapter in our business’s history, and heralds not only our expansion, but also the development of new and current core services for our university and company clients. We’re looking to maintain our traction, and are excited to excel expectations as we take our company overseas with our new partners at MFM.”

Investment Manager Brijesh Roy, who works with MFM’s Head of Technology Transfer, said:

 “I am pleased to provide IN-PART with its first early-stage investment from MFM.  I have first-hand experience of the struggles faced by university technology transfer offices trying to make industry connections.  IN-PART’s curated platform transforms this inefficient and resource intensive process, making it quick and simple for universities to connect to relevant companies.  In less than two years, IN-PART has become a dominant portal to find technology from UK universities and the investment will accelerate the ongoing international expansion into the US, Europe and Asia.
“This investment also complements Mercia’s commitment to support the wealth of scalable technology that universities can provide, particularly in our focus regions of the Midlands, the North and Scotland.”