Mercia Ventures manages regional investment vehicles including the Northern Powerhouse Investment Fund II.
The Middlesbrough-based pricing platform secured the seed capital from Mercia and private investors to fund international expansion.
"Pricing has previously appeared like a dark art, and traditional approaches are problematic and not very effective. Trying to price match with competitors can lead to price erosion, especially in a downturn, while sales staff often resort to discounting to meet targets."
The funding round was led by Mercia and will support product development and team expansion.
"With 3.5 billion smartphones worldwide, mobile apps are an effective way for public and private sector businesses to roll out their services to a wide audience. Nutshell makes mobile app development easy and will help businesses large and small to drive innovation and growth."
The follow-on investment from existing backers will support the expansion of the company's current facilities.
"OXGENE has once again more than doubled its revenue, with less than a 50% increase in headcount. This is testament not only to the hard work and effective management of our team here, but also to the strength of our automation platform, and our focussed, but flexible, approach to business and technology development."
The Newcastle technology start-up secured backing from Mercia and the North East Venture Fund to expand its team and product.
"Sales is no longer about the 'gift of the gab'. It is a repeatable and structured process and technology can help to achieve results faster. Allegrow allows companies to increase sales dramatically by eliminating repetitive processes, allowing sales people to spend more of their time having conversations with prospects and turning cold leads into customers."
Blackfinch and Mercia provided the capital to help the human resources software provider expand its product offering.
"StaffCircle clearly has tremendous potential and we’re delighted to be backing it at such an early stage."
