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12 March 2012
Solihull-based project compliance software innovator Comply Serve Ltd is to
accelerate expansion plans following investment from a syndicate of
partners, including Midven and Catapult Venture Managers.
Midven first invested in Comply Serve through its Advantage Growth Fund in
2007 – and recently the company has secured a number of new contracts
with high profile organisations.
Midven, together with Catapult Venture Managers Limited and Chord Capital
Limited, has now made a substantial further investment. Catapult made its
first investment into the company in December 2008.
Comply Serve partners with organisations all over the world on long term
infrastructure projects worth over £100bn and, as a result, has already been
able to project its 10 year forward order book.
In recent months Comply Serve has secured new contracts with a number of
high profile organisations and projects including Etihad Rail, currently the
largest rail project world-wide, Banedanmark (Danish Rail), a major
signalling programme to improve the Danish state railway network, and
Laing O’Rourke Australia for a major rail electrification project in South
Australia.
Mark Chambers, Comply Serve chairman, said: “Securing this additional
investment will enable the business to build momentum a lot faster;
building on the success to date. In the past 12 months the company has laid
down some firm foundations for significant growth. With the recent
appointments of Don Cameron as sales director and Steve Tosh as product
development and operations director, we have added some exceptional
talent to the board to ensure key milestones are met.”
“Not only are we winning significant new clients we are also continuing to
see development in our existing long term clients such as Crossrail,” added
Chris Rolison, Comply Serve CEO. “Comply Serve has firmly established itself
as the partner of choice on a number of multi-billion pound infrastructure
projects – as a direct result of its ability to demonstrate significant project
cost savings”.
Roger Wood, director at Midven, said: “Comply Serve has made significant
progress since our original investment and continues to do so despite the
difficult economic environment due to the significant cost benefits and
efficiencies that its software provides to the management of large
infrastructure projects. As such we are delighted to support the further
expansion of the business through this latest funding round.”
Graham Mold, director of Catapult Venture Managers, said: “The company is
winning contracts across the globe in prestigious infrastructure projects
which is a tremendous affirmation of the product and its global reach. We
are delighted to support this round alongside our investment partners.”
