SHE Software, a global health and safety software company headquartered in Scotland has announced completion of a £7 million Series B investment led by Frog Capital.
Existing investors Northern Venture Capital Trust (VCTs) Funds at Mercia Fund Management Limited also participated in the venture.
The investment will ensure that the East Kilbride-based firm can accelerate the growth of their international operations, building on momentum achieved over the last two years in North America.
The company also plans on increasing headcount by expanding its talent pool by 60, as its client base rapidly grows.
More than 250 firms, including Network Rail, New Balance, Vaillant Group and Renewi are current clients. Its cloud-based mobile-first platform is “transforming” the corporate approach to health and safety management.
SHE Software has witnessed strong growth during the past 12 months, securing more than 80 new customers and an increase of 54% in orders during 2019.
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CEO Matthew Elson said: “The UK is widely recognised as leading globally in health and safety best practices. SHE Software has played a critical role in helping develop the health and safety management software industry having pioneered digital innovation for over 20 years.
“From our dominant position in the UK and Europe, we are now focused on scaling operations in North America and Australasia.
“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 typically help customers produce ROI paybacks within 12 months by improving health and safety efficiencies and increasing engagement top-down, bottom-up.”
Charlie Winward, managing director at Northern VCTs Funds at Mercia, said: “We are pleased to continue our support of SHE Software and welcome Frog Capital in this new funding round.
“SHE Software has made considerable progress in the sector, and this syndicated round positions it well to continue its growth over the next few years and further build its presence in the US.”
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