The funding round was led by Maven Capital Partners and will support product development and marketing.
"Maven is delighted to maintain its support for iAM following the company’s consistent commercial growth in recent years. We’ve been impressed by the ambition and drive demonstrated by the management team, as well as the strong performance of both business units in developing compelling propositions and ensuring customer retention. Furthermore, we acknowledge the immense value within the sectors iAM’s divisions operate, which are currently undergoing substantial growth and witnessing robust merger and acquisition activity. This additional investment will enable iAM to further expand its client offering and achieve significant revenue scaling."
NPIF Maven Equity Finance provided the capital to support product development and audience growth.
"This exciting, customer-centric business is a great addition to the Maven and NPIF portfolio. The business has great future ambitions and is fast becoming a key name within the fintech industry. We have been impressed by the quality of the management team and existing shareholder base."
The revolving lending facility from Silicon Valley Bank and NPIF Maven Equity Finance will fund international expansion and job creation.
"Silicon Valley Bank and NPIF -Maven’s support comes at a pivotal time for our business. The strides we have made in the digital adoption market over the last three years has placed AppLearn on the cusp of transformative growth. This funding now enables us to put in place the foundations to fuel our ambitious international strategy and growth plans."
Maven led the £1.5m Series A investment to support platform development and infrastructure expansion.
"It was a pleasure to work with Ian and the team and support their rapid growth. Our latest investment in Boiler Plan is a real testament to what the business has achieved so far, and the funding package is a great example of our regional funds working together to allow a British business to capitalise on new market opportunities across the UK."
The round was led by NPIF Maven Equity Finance with participation from the UK Government Future Fund.
"A number of the market sectors we operate in, such as Waste, Haulage, Civil Engineering and Telecoms are vital to keep the country going and even more so during the pandemic. The principles of our software solutions have always given our customers the ability to operate remotely and from anywhere through cloud-based control systems and mobile apps. This approach continues to support social distancing and sanitary working practices."
