Scottish investment for growing tech firm
Scottishequitypartners(sep) has completed a $25 million (£18m) investment in a growing technology business with the likes of BP and Procter & Gamble on its books.
Basistechnologiesisaprovider of Devops and test automationsoftwareforsapenterprise software systems. It is based in Richmond, London, with several overseas operations.
The firm is said to have experienced significant growth in recent years and investment from SEP will enable the business to further accelerate product development and increase adoptionofitssoftwarethrough expansion of global sales and partnership capabilities. The company already employs more than 70 people.
Chief executive Martin Metcalf said: “We are delighted to have SEP on board as our investment partner to help fuel the continued growth of Basis Technologies.welookforward to working together to expand our product, sales and delivery capabilities.”
Keith Davidson, a partner at SEP, added: “Basis Technologiesisideallypositionedtobenefit from the increasing need to adopt Devops within SAP environments as businesses transition to the cloud and SAP’S new offerings.
“The company has an excellent reputation, puts its customers first and has significant experience delivering innovative automation software to organisations using SAP.”
Last month, Scottish Equity Partners completed a “significant”growthequityinvestment in Glasgow-based fintech firm Autorek.
The aim is that investment from the private equity group will enable the company to accelerate its product development plans and further extend its offering internationally.