Cronofy secures £15m from BGF to fund international expansion and product development.
The Nottingham-based scheduling infrastructure provider has raised £15m from growth capital investor BGF.
Cronofy provides embedded scheduling infrastructure that enables real-time, secure calendar integration for organisations worldwide. Its technology is utilised across sectors such as recruitment, healthcare, and professional services.
Cronofy has secured £15m in investment from BGF to support its ongoing expansion and product development. The Nottingham-based company provides embedded scheduling infrastructure, enabling secure and automated calendar management for organisations globally.
Founded in 2016 by Adam Bird and Garry Shutler, Cronofy serves a large international customer base, with the US market currently accounting for over 60 percent of its revenue. The new capital will be directed towards enhancing the core product, pursuing international growth, and expanding into new use cases.
The transaction also provides a partial exit for the company's early-stage backers who have supported the business since inception.
Investor perspective
"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."
Seb Saywood
Partner, BGF
Use of funds
- 01Continue product development
- 02Expand into international markets
