London based data platform set for growth following multi million pound investment

International cloud-based enterprise data analytics platform, Rosslyn Data Technologies, has raised more than £3m to help scale the business and meet the demand of its growing client base, with the support of Midlands law firm Shakespeare Martineau.

Established in London in 2007, Rosslyn is a software company providing procurement and master data management solutions. Investment raised will go towards product development and engineering, sales and marketing, recruitment, and working capital.

The company raised funds via an ‘accelerated bookbuild’, which involves offering shares in a short time period, with little to no marketing. This particular proposal saw the company offer conditional placing and subscription of new ordinary shares and convertible loan notes to certain institutional and other investors.

Paul Watts, CEO at Rosslyn, said: “We have a huge growth potential at Rosslyn; with increasing demand for our software-as-a-service, we will invest fund into R&D, people and marketing to support our growing client base and maintain the human touch that our business is known for.

“Since 2007, we have changed how tens of thousands of people around the world piece together the story from their data sources to make important procurement decisions and extract genuine value. We accomplish this by going far beyond where traditional software and services companies stop, delivering a powerful blend of data diligence, restless innovation, and personal partnership.”

Law firm, Shakespeare Martineau, provided legal support for the fundraising.

Keith Spedding, corporate partner at Shakespeare Martineau who led the deal, said: “Fundraising is particularly challenging in the current climate, so it’s great to see Rosslyn be so successful, particularly when funds will be utilised for job creation and innovation.”

By Mark Adair – Correspondent, Bdaily

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