Leeds compliance business secures £1.6m funding to fuel 'further success and growth'

Smartgate Solutions has closed a £1.6m round led by private capital investment group 24Haymarket and supported by Northern Powerhouse Investment Fund (NPIF) Mercia Equity Finance, which is managed by Mercia Fund Managers.

Smartgate Solutions is a Leeds-based solutions provider working within regulated industries in the UK and internationally.

The company has developed its cloud-based Radar Healthcare Quality & Compliance System to help regulated industries manage and meet both their operational and regulatory requirements.

Smartgate’s initial market is within the health and social care sector in the UK. The business has reported organic growth with increasing demands from its core market, international clients and other receptive industries.

Compliance and quality assurance are mandated requirements for many organisations. Radar is at the forefront of offering a solution to meet these business needs.

The business will utilise this investment by expanding both its sales and delivery teams to meet demand within this market.

Paul Johnson, chief executive officer at Smartgate Solutions, said: “We are very pleased to have the backing of 24Haymarket and in these exciting times for Smartgate.

“The investment and associated support along with the existing management team will ensure further success and growth.”

Stuart Fletcher at 24Haymarket added: “We are delighted to be investing growth capital behind a high quality and experienced management team.

“Radar Healthcare Quality & Compliance System is a first-rate proven product which integrates people, processes and technology to significantly improve the consistency, robustness and transparency of quality & compliance in all health and social care environments.”

Graham Davies, investment director at Mercia Fund Managers, also commented: “Smartgate Solutions has developed an innovative system that is tailored for the health and social care sector and we are pleased to support the business as it continues to scale.

“Smartgate is a good example of the strong business growth coming from the Leeds region, and this funding will allow it to expand and build upon the talent within its team.”