Xergy secures £3.1m Series A+ funding to scale AI development and international expansion
The oversubscribed round was backed by existing and new strategic investors to fund US expansion and generative AI development.
Xergy provides project management software called Proteus, helping organisations streamline complex operations and improve delivery performance. The company operates globally with offices across the UK, the Middle East, and Australia.
Technology firm Xergy has secured £3.1m in a Series A+ funding round to expand its operations and product capabilities. The oversubscribed raise was backed by existing shareholders alongside a cohort of new strategic investors, bringing the company total to more than £10.2m since its formation.
The capital will primarily fund the expansion of the in-house development team to build generative AI features for the Proteus platform. Additionally, the proceeds will support market entry into the United States and continued commercial expansion in Australia.
Gneiss Energy served as the financial advisor for the transaction.
From the founder
"This successful financial raise allows us to increase the size of our in-house development team by recruiting new talent who will focus on building Proteus’s generative AI. This will further help our clients optimise their project performance. In addition, the raise will support our growth into Australia and our planned entry into the United States later in 2024."
Colin Manson
Co-founder at Xergy
Use of funds
- 01Grow the team
- 02Continue product development
- 03Fund research and development
- 04Expand into international markets
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About the company
Xergy
Xergy develops project management software for complex global teams.