The Wiltshire technology firm has raised debt finance from FW Capital to support its relocation and recruitment plans.
"Ours is a very niche and specialised area within the Business Service Management market place. We have spent the past several years researching and developing our technology to provide an online platform that simplifies and automates IT processes, improves decision-making, and orchestrates workflow across cloud, virtual, distributed, and mainframe resources."
The round was led by Bill Currie, Dermot O'Grady, Mark Horrocks, and Sir Terry Leahy to support geographical and product growth.
"This is the culmination of lots of hard work. It is a pivotal moment for the company. It will change how we operate, how we are perceived and how we think,"
The investment round was led by AlbionVC with backing from IQ Capital.
"We’ve invested heavily into our product and machine learning capabilities to provide our customers with what we believe is the best speech recognition technology on the market. We recognise that businesses are increasingly aware of the importance of unlocking their voice data and utilising it for core business functions such as compliance, analytics, training and improving customer experience. This latest investment opens up not only global expansion but the opportunity for new product development and traction in new markets."
The Glasgow technology start-up has raised the capital through a crowdfunding campaign and backing from Jacobo Invest UG.
"This crowdfunding campaign was unique as we initially offered it only to industry peers, as an advocacy-building campaign as much as to raise funds. We raised £500,000 in four weeks from 550 investors and closed the campaign early."