Mercia Ventures manages regional investment vehicles including the Northern Powerhouse Investment Fund II.
Mercia has backed the employee benefits platform with a £750k injection from its EIS funds.
"There is increasing demand from employee benefits consultancies for a simple, easy-to-use and affordable technology platform that allows them to deliver employee benefit services to their clients more efficiently."
The Leicester software firm has raised a further £1.3m from the MEIF Proof of Concept and Early Stage Fund, Mercia EIS Funds and angels.
"This investment is key to the next level of growth within our business. The next 12 months are going to be very exciting, seeing us reach other markets and geographies with a product that is always innovating for the good of our customers."
Mercia Asset Management and cybersecurity leaders backed the round to support expansion in the US and UK.
"A simplistic rules-based approach to bot management won’t cut it anymore. Security suites need to be supported by dedicated bot management solutions that can respond to new threats and take advantage of new threat intelligence. Netacea’s agentless approach is the right one."
The funding round was backed by NPIF - Mercia Equity Finance, Mercia and private investors to support international expansion and team growth.
"The investment will help us to further enhance the platform to improve patient experience, create more personalised solutions and expand our team to support our internationalisation and rapid growth."
Mercia backed the HGV recruitment platform alongside private investors to support system development and business expansion.
"The recent driver shortage has highlighted the critical role that HGV drivers play in keeping supermarket shelves stocked and the wheels of the industry turning. While conditions are improving and wages have risen, this makes it all the more important that operators cut out unnecessary expenses. Avail enables them to hire drivers at lower cost so more money can into drivers’ pockets."
