Scottish Equity Partners backed the Glasgow based Internet of Things connectivity business to fund product development and sales expansion.
"This investment sets us well to accelerate our growth as an independent business. Pelion is at the forefront of the IoT connectivity market, serving a multitude of customer use cases around the globe, and we are excited to be embarking upon the next stage of our journey. The investments made into our technology and products over the past five years make us an ideal partner for any enterprise seeking to utilise IoT to drive their business outcomes."
The strategic financing marks the first institutional capital investment for the regulatory technology provider.
"We are highly enthusiastic to partner with CUBE for this next phase of growth. As a founder-led, category-leading Regulatory Technology (“RegTech”) business, benefiting from powerful regulatory tailwinds and market momentum, we believe CUBE is an innovation leader, and one of Europe’s most exciting high growth technology companies. We look forward to working with Ben and his ambitious team to further develop their business and drive growth."
— Philippe Lautenberg, Co-Founder and Managing Partner
Octopus Ventures led the Series B round, which will fund product development and international expansion.
"In a world in which volatility and complexity are increasing and the nature of work and talent are drastically changing, it is critical that organisations develop the capability and capacity to think and act differently when it comes to change and innovation"
The company has raised a fresh tranche of capital from backers including Wealth Club to drive growth across the UK and US.
"This latest round of investment in BibliU, from a hugely experienced group of investors, will only serve to further our mission to provide high-quality, accessible and vital learning resources at an affordable cost."
