Method Grid raises 1 mill to empower connected assurance of built environments
Method Grid, providers of an enterprise-level connected assurance platform for regulated sectors, including engineering-construction and consultancy, with plans to expand into new project-based sectors, have raised their third round of investment from a network of eleven private investors. Including new funding and conversion of loan into equity, Method Grid have received a total of roughly £1 million to fuel their expansion into new markets and development of their integrated platform capabilities.
The quickly rising Method Grid now boasts three successful raises, in May 2019, April 2020, and April 2021, with their first occurring one year after incorporation. Their impressive shareholder team has increased in equally dramatic fashion from 10 original investors to a total of 25 shareholders, four of which are founder directors. John Alexander, Chairman of PA Consulting, the UK headquartered international management, innovation and technology consultancy, and Chairman of HKA, the leading global capital project claims management and the expert witness consultancy, is a notable member of the network.
“We sought out our next seed round of funding as we were gaining promising traction for the platform and had ambitions to deliberately accelerate our company’s scaling journey and activity,” Dom Moorhouse, CEO of Method Grid tells us.
“The local connection of our investor network, and their shared, embedded experience in our target sectors, was really important to us. We feel this was the infrastructure we needed as we took our next steps as a business, growing our team and our platform.”
Method Grid’s integrated, enterprise-level assurance platform empowers knowledge retention, increases operational efficiencies and enables connected programme assurance. Including quality assurance, task management, knowledge management centres, and quality and project assurance capabilities. Method Grid addresses the growing complexity in regulation, compliance, and accountability requirements which are putting pressure on many organisations in highly regulated sectors.
Dom explains their vision;
“As a fully compatible ecosystem, we built Method Grid to allow users to focus on what matters – the assured delivery of quality services and projects – rather than getting tangled up in the morass of burdensome regulatory documentation and unnavigable corporate knowledge portals.
By embedding the fundamentals of project assurance into the lifecycle of asset management, with end-to-end connected programmes, we are not only making the lives of project managers easier, but also ensuring society’s assets are built safer, stronger and with accountability.”
In the aftermath of incidents such as the Grenfell Tower disaster, and rising concerns for scrutiny in asset creation and management processes, Method Grid’s timing to scale up is necessarily apt.
Method Grid plan to use this investment to build out multiple elements of their business and solution, including an expanded development team, customer success team, and professional services and revenue-growth teams. The business has already begun investing into marketing activity alongside their internal expansion, aiming to increase their robust client roster. Currently, sitting at 15 persons strong, the company has recently opened a new Bath office to accommodate further growth.
With an equally solid foundation of early adopting clients, including Mace, T&T Group and AECOM, Dom has inspiring ambition for the future of Method Grid. “We want to scale fast and address the many market challenges, and opportunities, out there. We want to become the leading solution for connected assurance needs, but we also believe we have an important role to play in the services these clients deliver to their end-clients.
We want to empower our user organisations with respect to the global challenges they face, from net zero carbon targets to post-Grenfell legislative reform. These issues aren’t getting any easier and improving our technology will help such organisations deliver and assure more complex projects, build safer products, and achieve ambitious targets despite these barriers.”
“Users can expect more connectivity, with integrations bringing together knowledge resources, task management, and connected assurance across teams, more features, and exciting R&D innovations, such as Machine Learning for data analytics on repeatable tasks.”
Anthony Sage, the Bath-based coordinator of the private network, has a long and successful history in private equity and states how he sees great potential in the company’s vision, the scalability of the Method Grid platform, and the driven team behind it.
“Method Grid is a very transversal platform which will have no trouble going global. Not only does the team, especially Dom, share a strong drive and vision for development, they already have a compelling reputation and customer base. The tech itself is equally very innovative and clearly needed in their market – as well as many others. The fact that it’s a tech-enabled SaaS is also fantastic, meaning it will easily slot into any corporate ecosystem to generate efficiency and scalability,” Anthony states.
“I’m already very impressed with the leadership and entrepreneurial acumen Dom has shown and have no doubts he can drive this platform to the next level in the next 12 months.”