Northern Ireland based technology solutions company GoReport is set for further expansion after receiving new investment from ScaleUp Capital.

GoReport is a leading SaaS solution to the property sector, helping surveyors digitise their inspecting, reporting and analysis process, driving greater efficiency and a more effective workflow.

The business has earned a reputation as a market leader in providing software solutions for surveys and inspections in the residential and commercial sector, trusted by a range of clients to support the transition towards digital workflows, enabling surveyors to focus on delivering expert advice and guidance to their clients.

ScaleUp Capital has invested into GoReport to fuel its next phase of growth, this is the first investment from ScaleUp’s fourth fund, and it will be used to continue GoReport’s product development to enable further growth into core markets, cementing their status as the sector’s technology partner of choice.

As part of this transaction, existing investors Co Fund NI, which is managed by Clarendon Fund Managers, Crescent Capital and a number of private investors, have sold their stakes in GoReport and exited the business.

Gavin O’Neill, Chief Executive Officer of GoReport, said:

“GoReport is delighted to become part of the dynamic ScaleUp Capital portfolio. In delivering a tremendous product alongside exceptional customer service, GoReport has built an outstanding reputation and a base of impressive clients. Our success so far has been made possible through the support of our investor community. As we continue to move forward, ScaleUp’s position and expertise will undoubtedly support and assist us as we look to build on our growth and reputation and offer even more exciting solutions tailored for our target markets.”

David Sparrow, Investment Director from ScaleUp Capital said:

“We are incredibly excited to be working with the GoReport management team to continue driving the business forwards. GoReport has demonstrated a high degree of product-market fit in a compelling sweet-spot and the platform’s strong foothold in its market presents an exciting opportunity for continued growth.”

Jim Curran, from Clarendon Fund Managers, said:

“We are delighted to see GoReport attract this new investment to enable the company to scale and move forward on the next stage of its journey. CoFund NI backed the company in five separate funding rounds alongside private investors in the early stages of its development and we are pleased that the company is well positioned to go from strength to strength with the support of ScaleUp Capital.”

ENDS

About GoReport

GoReport is the market-leading solution that digitises surveying, inspection, reporting and analysis for residential and commercial property surveyors. Our solution is designed to significantly enhance the efficiency, quality, and consistency of the surveyor’s workflow, enabling them to focus on delivering expert advice and guidance to their clients.

About ScaleUp Capital

ScaleUp Capital is a specialist scale-up investor, investing in and supporting established growth companies with between £1m-10m of revenue – providing funding, expertise, methodology and support delivered through their Scaler Programme and Platform.

About Co-Fund NI

Co-Fund NI is part of Invest NI’s Access to Finance portfolio and part funded by European Regional Development Fund under the EU Investment for Growth and Jobs Programme 2014-2020. The £47m fund, which is managed by Clarendon Fund Managers, co-invests in business angel and private investor led deals.