SHE Software, a Scotland-based health and safety software business, has raised £3m from NVM Private Equity.
The company, based in East Kilbride, will use the cash to expand in the US and grow its teams in the UK and abroad. The startup already employs 60 people in Scotland.
Led by CEO Matthew Elson, the company has created Assure, a software platform which seeks to help businesses gain and demonstrate greater health and safety compliance while cutting down admin costs.
Elson said he was delighted to work with the firm’s new investors “and to seize the tremendous opportunity” to penetrate the North American market.
“Our plans are ambitious but we are confident that this funding boost will enable us to maintain our 60% 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,” he went on to note.
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SHE Software says it brought on more than 30 new customers over the past nine months – both in the UK and overseas.
Charlie Winward, investment director at NVM, commented on the company’s potential and the state of innovation in Scotland: “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,” Winward concluded.
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