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Start-up software developer completes GBP600,000 funding round

Adventoris, the Huddersfield-based software development company, has raised GBP600,000 that will enable the company to launch its new business software in the UK.

 
Founded in 2012 by its chief executive James Clarkson and chief operating officer Tim Longton, Adventoris has developed an online cloud-based enterprise software called SwiftCloud. The platform will be delivered as Software as a Service (SaaS) and will be launched in November.
 
Although the company will wait until launch to release full details, Adventoris has developed the SwiftCloud platform on Oracle technology. The platform will then be accessed by users on tablet and smart phone devices via an app-based front end.
 
The GBP600,000 has been raised from a number of institutional and private investors, including the Angel CoFund.
 
Clarkson says: “This funding represents a major milestone for Adventoris. It’s a resoundingly positive endorsement of the opportunity we have identified – and the team we have built at Adventoris.  Cloud services is a large and buoyant market – in fact UK SMEs spent GBP203m last year alone, which is forecast to grow to GBP547m by 2015.  The investment gives us the ability to properly launch the SwiftCloud platform, and take it to market throughout the UK.”
 
Adventoris non-executive director and investor Peter Armitage, a partner at private equity firm Key Capital Partners, says: “The team have developed a compelling product that has the potential to exploit a huge market opportunity. I don’t make many personal investments but I’m very happy to make this one.”
 
George Whitehead, chairman, Angel CoFund, says: “Adventoris is a great fit for investment from the Angel CoFund. By investing alongside business angels into SMEs from across the UK, our goal is to both support angel investment, and to ensure that money gets to good, scalable businesses.  We’re very excited about this investment, and look forward to watching the successful launch of SwiftCloud in November, and beyond.”
 
Adventoris was advised by Jon Kenworthy at DLA Piper. The Angel CoFund was advised by Peter Francis and Debra Martin at Geldards.

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