A SCOTTISH health and safety software firm has secured a £3 million investment as it prepares for international growth.
East Kilbride based SHE Software will create 50 new jobs by the end of the year with the NVM Private Equity funding.
SHE Software will use the funding to open up 15 highly skilled jobs in a new office in the US and has plans to double the size of its development and support teams at its Scotland headquarters, where it currently employs 60 staff.
The company is the creator of Assure, a software platform that helps businesses to demonstrate health and safety compliance/
A key focus for the business has been to tailor the software to many different industries. ScaleUp Group, chaired by John O’Connell, has been supporting SHE Software in its scaling up as it prepares for its international expansion.
The cash injection rounds off a successful quarter for SHE Software as it made its software available in other languages and hired 12 new employees across its UK and New Zealand offices.
In the past nine months the company has worked with 34 new customers across various industries in both the UK and overseas.
The investment was led by NVM investment director Charlie Winward and investment associate Jason Warren. Winward will join the board as a non-executive director with immediate effect.
Winward said: “SHE Software is a great example of the kind of exciting business we are seeing in Scotland at the moment.
“Matthew and his team have built an excellent product and the business has grown very strongly over the last few years with a clear plan to continue on this growth trajectory, both by building upon the existing UK operation and by expanding into the US market.
“We are excited to work with Matthew and his team to deliver on these plans, and believe we can provide valuable support in the journey through our experience in scaling businesses at NVM.”
Matthew Elson, CEO of SHE Software, said: “We are delighted to work with our new investors at NVM and to seize the tremendous opportunity we have to penetrate the North American market and bring the benefits of Assure to a much wider customer base.
“Our plans are ambitious but we are confident that this funding boost will enable us to maintain our 60 per cent per annum growth rate while successfully driving international expansion.”
“Our success in the last quarter is a testament to the hard work and dedication of the team that we have in place, which, coupled with the benefits that Assure has to offer, puts us in a strong position to continue to grow globally.
“Our customers are individuals who deal with complex and dispersed operations where the more traditional approach to managing health and safety is no longer adequate.
“We believe that our software brings a fresh, new approach to the health and safety software market.”
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