Scottish education software firm GeckoLabs, whose software platform GeckoEngage helps universities to engage and recruit students, has secured £1.8 million of new investment to more than double the size of its team and expand its operations in North America.
GeckoEngage is used by over 50% of the UK higher education market and the company also has almost 30 clients in the US and Canada.
“We’ve seen a real upsurge in interest from both existing users and from HEIs we don’t yet work with”
This latest funding from Mercia Fund Managers, the Scottish Investment Bank’s Co-Investment Fund and existing angel investors bring the total raised by the company to £3m.
The funding will allow Gecko to continue developing new products and open an office in New York to increase market share in North America. It plans to create an additional 10 jobs in the UK and 28 new roles in the US and Canada.
CEO Matt Lanham said the investment will help the business to innovate further in terms of product development.
“With the launch of our chatbot earlier this year, we’ve seen a real upsurge in interest from both existing users and from higher education institutions we don’t yet work with. This investment will help us to capitalise on that interest,” he added.
Marcus Henderson, Investment manager at Mercia, said Gecko is now entering a critical phase in which it has the opportunity to scale the business in the North American market.
“This investment will support it through its next phase of growth and development. We will be working closely with the entire Gecko team to help them achieve this successfully,” he said.
Kerry Sharp, director of Scottish investment Bank added that Gecko offers not only the prospect of new Scottish based job opportunities but also increases the export capabilities for Scotland’s business base.
“We look forward to working with them on their exciting journey and wish them well for the future,” she said.