Belfast technology firm GoReport has bagged new investment from a specialist London firm.
ScaleUp Capital said its funding – which it didn’t disclose - will be used to fuel the next phase of GoReport’s growth as it focuses on product development and expanding its footprint in core markets.
It provides software for surveyors to help digitalise inspections on both residential and commercial property.
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The latest investment sees former funders, Belfast-based CoFund NI and Crescent Capital, exit their share of the business.
Crescent said it held the investment for four years.
“During our time GoReport’s turnover saw significant growth as it more than doubled and gained a rightly enviable reputation as a leading SaaS property sector solution,” Bob McGowan-Smyth from Crescent, said.
“Chairman David Bell and CEO Gavin O’Neill provided key leadership in transforming GoReport’s progress to a very successful exit for all investors. With ScaleUp’s support and Gavin O’Neill’s continuing leadership, I’m confident that the business will excel to even greater heights.”
Gavin O’Neill, Chief Executive Officer of GoReport, welcomed ScaleUp’s investment.
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“Our success so far has been made possible through the support of our investor community,” he said. “As we continue to move forward, ScaleUp’s position and expertise will undoubtedly support and assist us as we look to build on our growth and reputation and offer even more exciting solutions tailored for our target markets.”
David Sparrow, Investment Director from ScaleUp Capital, said he is looking forward to working with the GoReport management team.
“GoReport has demonstrated a high degree of product-market fit in a compelling sweet-spot and the platform’s strong foothold in its market presents an exciting opportunity for continued growth,” he said.