Scots software firm to add 50 jobs after £3m funding deal
● Health and safety compliance group embarking on international expansion
An East Kilbride software specialist is looking to go global while adding in excess of 50 jobs after securing a sevenfigure funding deal.
SHE Software has developed a software platform that helps businesses to achieve and demonstrate health and safety compliance. It claims to offer firms major cost savings by “significantly reducing the administrative burden”.
The group, which is led by chief executive Matthew Elson, has secured a £3 million growth capital investment from NVM Private Equity as it gears up to enter international markets. It aims to create more than 50 jobs by the end of this year.
The funds will initially help open up 15 highly skilled jobs in a new office in the US while the firm is ultimately looking to double the size of its development and support teams at its Scottish HQ, where it employs about 60 staff.
Scaleup Group, chaired by John O’connell, has been supporting SHE Software in its scaling up as it prepares for its international expansion. The firm has already introduced multilingual functionality to its software and added 12 employees at its UK and New Zealand offices.
During the past nine months, the company has worked with 34 new customers across various industries in both the UK and overseas, with half of thoserelationshipscommencing in the last three months.
The £3m investment was led by NVM’S investment director Charlie Winward and investment associate Jason Warren. Winward will join the software firm’s board as a nonexecutive director with immediate effect.
Elson 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 [our software platform] 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.”
He added: “Our success in the last quarter is a testament to the hard work and dedication of the team that we have in place.”
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.”
O’connell added: “We were delighted to offer our knowledge, connections and experience from over £4 billion in exits to Matthew and the team to successfully raise growth funding. We will continue to support Matthew and the team through their growth.”