CMAP secures multi-million pound investment from NorthEdge to drive global expansion
NorthEdge leads funding in Wilmslow-based SaaS provider CMAP to support team growth and international expansion.
CMAP provides integrated cloud-based project management and tracking software for clients across multiple sectors. Operating from offices in Wilmslow and Orlando, the company serves thousands of users globally.
NorthEdge has backed project management software provider CMAP in a multi-million pound investment deal to support the company's international expansion and team growth. The funding will target key sectors in the UK, product development, and expansion into US markets. Phil Davidson is also joining the business as Chair as part of the transaction.
CMAP has seen revenues grow at forty percent per annum over the past four years, supporting thousands of users across more than sixty countries. The investment marks the third transaction from NorthEdge's SME fund, which was launched in 2018.
From the founder
"We are delighted to be partnering with NorthEdge and believe that the investment has come at a perfect time for the business. We pride ourselves on providing a market leading product to our customers and this has been a key driver of the strong growth that we have enjoyed to date. We believe that the quality of our solution and the investment from NorthEdge will provide the platform to further accelerate this growth in the future, both in the UK and internationally."
Dave Graham
CEO and founder at CMAP
Investor perspective
"CMAP has established a strong market position with its scalable SaaS solution that meets a significant market need. Its team of software experts has built a growing presence in the US which provides significant opportunity for the business in the future. CMAP is an excellent addition to our expanding portfolio of technology companies, which includes Catalis, Cloud Technology Solutions, Cubic Motion, iPortalis, Phoebeus Software and Pimberly."
Phil Frame
Director and Head of North West, NorthEdge
Use of funds
- 01Grow the team
- 02Continue product development
- 03Expand into international markets