OpenGenius raises £1.1m from the Development Bank of Wales and private backers to drive global expansion
The Development Bank of Wales led the round with a £500k investment alongside private investors.
Share allotment filed at Companies House
Cardiff-based software company developing visual thinking and task management applications for creative teams and innovators.
OpenGenius has raised £1.1m in equity funding to support its international expansion and product development plans. The round comprises a £500k investment from the Development Bank of Wales and £600k from private investors. The company intends to use the capital to scale its operations and prepare for a future public flotation.
The Welsh firm creates collaboration and visual thinking software, including the task management application DropTask and the brainstorming tool iMindMap. Its products are utilised by global organisations across various industries, ranging from education to finance.
From the founder
"OpenGenius is excited to gain this investment; it will play a big part in the company’s development over the next year as we continue to expand our international customer base."
Chris Griffiths
Owner and founder at OpenGenius
Investor perspective
"This £1.1m investment will provide OpenGenius with the capital it needs to further refine its innovative SAAS platform and accelerate its global expansion plans."
Alexander Leigh
Senior Investment Executive, Development Bank of Wales
Use of funds
- 01Expand into international markets
- 02Invest in sales and marketing
- 03Continue product development
Investors
Categories
About the company
OpenGenius
OpenGenius develops productivity software including task management and mind mapping applications.