Durham industrial software developer secures £185k for new facility and R&D
An industrial software development company has secured £185k of funding to facilitate a change of office and boost in-house development.
The investment aims to help the business to invest in its in-house product development to grow its portfolio, and enhance its sales and marketing function.
The Finance Durham Fund, established by Durham County Council, invested the money in Project Control Tools, as part of a £300k funding package.
Fin Gregory, CEO and co-founder of Project Control Tools, said: “We’re really excited to close this investment round. We’ve worked really hard over the last few years to build our platforms, product awareness and loyal client base.
“Our main goal is to make the lives of our clients easier by offering easy to use, turnkey solutions which enable immediate digital transformation of all site and project processes.
“The investment will allow us to accelerate our growth plan, adding to our account management, sales & marketing and development teams and looking at other pain points we can solve in the industry.”
Peter Smith, investment associate at Maven, said: “Project Control Tools innovative technology solutions make digitalisation easy for the rail and construction industries to remove paper processes from the site, streamlining efficiencies and saving time and cost.
“This is a great opportunity for the Finance Durham Fund to provide a growing software business with a relocation package to join the thriving technology space within County Durham. We look forward to working with Fin, James and the team as it embarks on a programme of growth.”
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