Grant Thornton advises Milton Keynes software company Celaton on investment from renowned tech entrepreneur Vin Murria
GRANT Thornton UK's Corporate Finance team has advised Milton Keynes-based software company, Celaton on an investment deal with serial investor and technology entrepreneur, Vin Murria OBE.
Founded in 2004 by Andrew Anderson and Gary Grant, Celaton’s Intelligent Document Processing platform, inSTREAM, delivers consistent and measurable business technologies to processes such as accounts payable, sales order processing, customer correspondence and claims.
The company, which has a team of more than 20, has a number of bluechip customers including e-commerce brand ASOS, retailer Dixons Carphone, telecoms group TalkTalk and consulting firm Capgemini.
Delivered as software as service, inSTREAM comprises multiple technologies including Artificial Intelligence, Machine Learning, Robotic Process Automation and Cognitive Learning to improve efficiency, increase throughput, reduce errors and enhance compliance in a customer’s process.
The transaction sees Vin Murria OBE invest alongside growth capital investor BGF which has supported the business for a number of years, Celaton’s existing individual shareholders have exited the business.
Murria has more than 25 years of venture capital, private equity, M&A and CEO/operational experience in the software sector, and was founder and CEO of Advanced Plc. She currently sits on the Board of a number of Technology centric businesses including Softcat Plc and SVB (UK).
Murria says: “Celaton is a disruptive software business with an experienced management team and a supportive investment partner in BGF. I’m looking forward to working with both parties and Jim Chase one of my excellent Advanced colleagues to set out a clear plan for growth and realise the ambitions of this exciting, innovative business.”
Gina Gray, Commercial Director of Celaton, says: “We’re absolutely delighted to bring on board an established and hugely successful tech entrepreneur in Vin Murria. Celaton software is transforming the way that organisation’s handle their inbound information streams and as a result we've attracted an enviable high profile customer base. Our sights are firmly set on expanding our offering even further, and with Vin and Jim’s experience in scaling technology businesses, the future is very positive.
James Syrotiuk, investor at BGF, adds: “We’ve backed Celaton since 2012 and in this time frame the company has grown rapidly, winning new customers both in the UK and globally and enhancing its technology capabilities and the value it delivers its customers. Vin is sure to bring a fresh perspective on the growth strategy of the business and we’re looking forward to working together to help the company reach its goals.”
Mike Hughes, Corporate Finance Director at Grant Thornton, says: “We are really pleased to have supported Celaton, a long-standing client at the cutting-edge of the computer software sector, achieve this outcome.
“We are confident in its future prospects as the business benefits from the excellent market knowledge, connections and additional resources Vin Murria will deliver alongside BGF.”
Mr Hughes was assisted by Associate Director Tom Grant, while national law firm Shoosmiths also advised the Celaton shareholders on the transaction.