Health and safety software firm in second funding round
Published: 24 March 2020 - Victoria White
Notify Technology – the Newcastle-based health and safety software business – has completed a £370,000 investment round to drive product development and expand its team.
The company has secured further funding from the North East Venture Fund (NEVF), which is supported by the European Regional Development Fund and managed by Mercia, alongside investment from its Chair, Jayne Archbold, and existing management.
Notify’s platform enables businesses to improve health, safety and wellbeing in the workplace. The company was founded in May 2017 by Duncan Davies and Andy Dumbell, who recognised the potential to use technology to automate processes, predict risks and reduce the toll of workplace accidents.
Mercia first backed the company through the fund with an initial £500,000 investment in November 2018. Since then Notify has tripled its monthly revenues and secured major client wins including Siemens Mobility, Wickes, ThyssenKrupp, and the English Football League.
The latest round will help the business hire additional customer service and sales staff, broaden the software offering and expand its client base.
Duncan Davies, CEO, said: “Andy and I are delighted at the progress we’ve made over the last year. We’ve added some great new members to our team and many fantastic clients. This funding will enable us to accelerate our growth whilst continuing the positive engagement we have with our client base.”
Jayne Archbold, a former Sage executive who was appointed as Chair last year, said: “I’ve been working with Notify as Chair for 10 months and I’m delighted to see the progress being made. Notify are a passionate team developing smart and secure, innovative technology. They are adding new customers and bringing value to their existing customer base to make their vision a reality, creating a safer, healthier world.”
Jan Oosthuizen, Investment Manager with Mercia, said: “Notify has gone from strength to strength in the last 12 months, having broadened its service offering and won some major new clients. We’re delighted to continue to support the business in its next phase of growth.”
Adam Rayner and Stephanie Brown of Muckle LLP provided legal advice to Mercia while Katherine Hay-Heddle and Clair French at Ward Hadaway advised Mercia.
NEVF can invest up to £1.0million in any one round for firms in Northumberland, Durham and Tyne & Wear, particularly those which are engaged in innovation or developing disruptive business models.?Funding is available to all companies with high growth potential and also pre-start enterprises.
Source: Industrial Compliance