Newcastle software firm eyes further US expansion with major investment backing

Software company VEO has secured investment from a US educational organisation to boost its video tagging technology globally.

Newcastle-based VEO is used by customers in 20 countries currently, including China, Canada and the US. This investment could enable the company to expand further, particularly in the US education market.

The investor - The National Center on Education and the Economy (NCEE) - is based in Washington, DC, and has trained over 15,000 school leaders across 27 US states.

VEO will now become a part of NCEE’s work to provide school leaders with tools to design and lead schools and school systems.

Commenting on the investment, co-founder of VEO, Paul Miller, said: “Edtech is one of the UK’s fastest growing sectors and this investment will allow us to continue to grow rapidly with it.

“Our software is already helping people around the world to make valuable changes to improve what they do, and we’re looking forward to working with the NCEE to bring change and collaborative learning to more professionals around the [US] and beyond.”

Newcastle law firm Sintons assisted VEO on the transaction.

The Sintons team consisted of Adrian Dye, supported by Sophie Townes.

Adrian, a partner in the corporate and commercial team, added: “VEO has built a trusted global client base from its base in the North East, which is increasingly recognised as a leading digital and tech destination on an international scale.

“This investment increases the huge global potential for VEO further still and we are very pleased to have been able to support them.”