Tech firm on growth trail with £550,000 investment

A tech firm is eyeing growth after securing £550,000 investment.

Moralbox has been backed to roll out an artificial intelligence-powered training management platform.

Bosses say the “major milestone” funding – from Northstar Ventures, Creative UK and angel investors – will “transform” its growth ambitions.

Operating across sectors including food production, construction, manufacturing and transport, the firm’s technology helps businesses navigate regulatory and training demands through measures such as verification of staff qualifications and identification of skills gaps.

It aims to build a “unified workforce intelligence ecosystem” to enable organisations to spot talent, organise bookings and deliver digital learning.

The Houghton-le-Spring-based firm secured its funding support via finance house Northstar Ventures’ Venture Sunderland Fund, with the organisation investing £350,000 alongside £150,000 from Creative UK’s North East Fund and £50,000 from angel investors.

As part of the deal, Steve Spark has joined Moralbox as chair. 

Gordon MacPherson, co-founder and chief executive of Moralbox, which counts work with Thompsons of Prudhoe and Cranswick Yorkshire Baker among its portfolio, said: “This investment is a hugely exciting step for Moralbox and for the North East’s growing tech community. 

“We’re proud to be based in Sunderland at a time of incredible innovation and momentum across the city, and to be building a highly skilled team that’s passionate about transforming how organisations manage workforce training, compliance and development. 

“With the backing of Northstar Ventures, Creative UK and our angel investors, we can accelerate innovation, scale faster and bring our vision for artificial intelligence-powered workforce intelligence to life.”

Tom O’Neill, Northstar Ventures’ investment manager, added: “Moralbox is developing impressive artificial intelligence-powered training management software, and is already working with well-established customers in key industries. 

“We look forward to working with the team to accelerate the company’s growth.”

Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →