The Nottingham-based scheduling infrastructure provider has raised £15m from growth capital investor BGF.
"Cronofy is a stand-out tech success story that has achieved global recognition in its vertical for having the most reliable embedded scheduling infrastructure. Its ROI for a range of different customer types and size, including enterprise, is compelling. It has a customer centric, product first growth strategy that has already generated 60% of its sales from the more mature US market. We look forward to partnering with this impressive management team who have a proven track record in solving problems for customers and scaling tech businesses."
The investment from Palatine supports the workforce optimisation platform as it scales sales and marketing functions.
"The funding from Palatine Growth Credit comes at an important and exciting time for our business, where having now established the leading foothold in the professional services sector, we're looking to scale at pace and invest in further market growth."
The financing round was led by Osprey Investors and Columbia Lake Partners to support product development and US expansion.
"AI is redefining the enterprise software stack and CRM is at the heart of that transformation. With data complexity continually growing, legacy CRM systems are buckling under the pressure to increase the value and productivity for organisations and deliver solid intelligence. This investment is a pivotal milestone in enabling us to better support the world’s largest organisations with the most complex workflows to move faster, smarter and at scale."
The pre-seed round was led by Fly Ventures with participation from Octopus Ventures and Pact VC.
"These facilities are like WeWorks for servers. They’re procuring energy to power all of their tenants’ workloads, but they’re having to make their best guess at how these workloads will evolve over time."
YFM Equity Partners has backed S4labour with a £4m investment to drive product development and market expansion.
"S4labour has built an impressive business with a clear product-market fit and plan to expand its market. As the hospitality industry continues to digitalise its operations, S4labour is well-positioned to expand its market share and deliver significant value to its clients. With Mark Jensen now on board and an exciting product roadmap, we see a fantastic opportunity to accelerate growth, and we are excited to support the team on this journey."
