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Northern Powerhouse Investment Fund

Northern Powerhouse Investment Fund

Government

The Northern Powerhouse Investment Fund provides microfinance, business loans and equity finance to support growth and development in smaller businesses.

Portfolio

15

companies


Portfolio companies

S

Salesfire

Salesfire provides conversion optimisation and search technology for e-commerce platforms.

Logically

Logically

Logically uses advanced artificial intelligence to tackle online mis- and disinformation at scale.

MG

Margin Guardian

Margin Guardian provides fashion retailers with consumer data insights and targeting services.

T

Tutorful

Tutorful runs an online education platform connecting students with private tutors.

B

Bubo.AI

Artificial intelligence pricing platform for commercial enterprises.

e

eSalesHub

Yorkshire technology firm analysing big data using artificial intelligence to optimise marketing spend.

AT

Avail Technologies

Digital platform connecting hauliers with short term HGV drivers.

iC

iAM Compliant

Compliance software and digital training provider.

SM

Soccer Manager

Soccer Manager develops online football management games for a global audience.

Summize

Summize

Summize provides intelligent contract lifecycle management software for businesses.

Get Work

Get Work

Get Work provides an automated digital lead generation platform for tradespeople.

RI

Relative Insight

Relative Insight operates a language understanding platform that helps businesses analyse unstructured data through comparative linguistics.

NT

Node Technologies

Node Technologies supplies fibre optic broadband infrastructure for commercial office buildings.

M

Membr

Cloud-based fitness software platform helping gym owners manage members and digital content.

MD

My Digital Accounts

My Digital Accounts provides cloud-based accounting and payroll software for accountants.


Team

GP

Grant Peggie

Director at the British Business Bank


Recent investments

£2.3M

The funding round was led by Mercia alongside a private investor to support product development and hiring.

"Salesfire aims to replicate the in-store experience, where sales assistants and effective signage help customers to find the right products and maximise sales. In the current challenging retail environment, it is even more important that online stores make the most of their marketing spend. The investment from Mercia and NPIF will enable us to develop exciting new features to make the platform even more powerful."
— Rich Himsworth
Seed
£18.0M

The financing round was led by Vitruvian Partners with participation from the Amazon Alexa Fund, XTX Ventures and the Northern Powerhouse Investment Fund.

"I am delighted to announce our latest fundraising round led by Vitruvian Partners. Vitruvian’s experience supporting high-growth and innovative technology companies globally will be invaluable as we continue to scale up our capabilities and operations. Given the evolving threat landscape and the increasingly sophisticated technology being used by adversarial actors, this investment will help us continue to stay at the forefront of the fight against misinformation, funding further research and development of end-to-end technology solutions that really break down and combat information threats."
— Lyric Jain, founder and CEO
Pre-Seed
£100K

Maven Capital Partners and the Northern Powerhouse Investment Fund backed the Liverpool-based retail data platform.

"MG was founded by a strong team of retail experts and the technology they've created addresses a genuine need for both retailers and consumers. MG have received encouraging traction from several high-profile retailers, and we're pleased to support Richard, Stephen and Stewart at such a pivotal point in the company's growth journey. We look forward to working with the team to help drive MG forward."
— Dean Cox, Senior Investment Manager
Series A
£3.0M

The Sheffield-based edtech platform raised the capital from Mercia funds to enhance its technology and grow overseas.

"Online learning now plays a key role in education but nothing can replace the benefits of one to one tuition. Tutorful offers the best of both worlds – it offers students easy access to some of the best teachers in the UK while leveraging the power of technology to make learning more fun and engaging. The platform has potential for use worldwide and this latest investment will help us to expand into other overseas markets."
— Mark Hughes, CEO
Seed
£500K

The Middlesbrough pricing software developer has raised further backing from the Northern Powerhouse Investment Fund.

"Bubo.AI is the only AI-driven pricing software that takes the perceived value to customers into account. We have been delighted by the awards and other recognition we have received so far. This funding will allow us to maintain our position at the leading edge of AI and establish the software as the world leader in its field."
— Alan Timothy, CEO
Series A
£1.7M

The funding round was led by Maven Capital Partners via the Northern Powerhouse Investment Fund to support technology development and team expansion.

"The time is right to accelerate our growth and invest across the business in our proven technology solutions to expand their take-up and unlock new A.I applications,"
— Mark Taylor, CEO and founder
Seed
£300K

The haulage recruitment specialist has raised £300k from Mercia and chairman Keverne Watt to fund expansion.

"The pandemic has had a major impact on supply chains and the haulage industry. By improving efficiency and enabling them to recruit drivers remotely, our platform has helped firms to keep going in these uncertain times. With continued pressure on costs, it is all the more important for operators to minimise unnecessary expenses like recruitment fees to enable them to maintain profits and improve drivers’ wages."
— Erin Short, Founder
Seed
£1.0M

The Cheshire based compliance software provider has raised capital from Maven Equity Finance to scale its product portfolio and infrastructure.

"This investment couldn’t have come at a better time for us. Our brands of iAM Compliant and iAM Learning are gaining real brand traction and are already enjoying global recognition. These funds will allow us to leverage our existing products and scale them, with a predicted focus on additional online compliance app functionality and even more stellar content covering a wide range of topics from mental health to soft skills and everything in between. We are truly excited to work within this partnership vehicle."
— Luke Pargeter, CEO and Founder
Seed
£500K

The Manchester based legal tech firm has secured backing from Maven Capital Partners and Charles Sharland to drive product development and international expansion.

"We have a truly unique tech product that is set to transform the legal industry, so it has been excellent to have had the support from NPIF and Maven to recruit the expertise we need to bring the product to market quicker. It is already generating a buzz within the legal tech space, so the Summize platform is well-equipped for a busy 2020, with a new team and more software features. We are excited to see where it takes us!"
— Tom Dunlop, CEO and co-founder
Debt
£100K

The Lancashire-based lead generation firm secured the debt financing to establish a new office and increase marketing spend.

"At GC Business Finance, we are passionate about helping growing businesses to really establish themselves in the market. Get Work has developed at an extraordinary pace in which we have been really impressed and its recent partnership with Google shows their credibility and growth potential. We fully believe in Get Work and their online platform and hope that with our funds they can scale up their operations and help even more tradespeople across the country."
— Mark Gibbons, Senior Loan Manager
Debt
£100K

Node Technologies secured a six-figure loan from the Northern Powerhouse Investment Fund to support national growth requirements.

"Having demonstrated the usefulness of our product through the success of the Spinningfields and Windmill Green sites, it’s clear that there will be real desire for Node from landlords across the country. Our innovative solution to problems that many multi-occupancy buildings experience with internet connectivity and choice of provider make this technology a really exciting prospect that drastically improves efficiency and cost savings."
— Doug Ward, Co-Founder
Debt
£0

The gym management software provider has obtained a debt package from NPIF - FW Capital Debt Finance.

"I was working as a personal trainer and thought about how I could engage with my clients more efficiently and grow the number of people I was training. I knew I could do better than emails and bits of paper and came up with the idea of an app."
— Jack Malin, CEO
£1.3M

The Northern Powerhouse Investment Fund backed the accounting software provider to support team growth and apprenticeship schemes.

"This investment from NPIF, will help My Digital Accounts scale its marketing activities to raise awareness of its product offering, particularly to support companies in HMRC’s widely-publicised Making Tax Digital (MTD) initiative which affects all companies with turnover in excess of £85,000."
— John Whelan, Founder