A Lincoln company whose software is used by organisers of international sports competitions and festivals has raised £400,000 to support further growth.
Iventis has secured investment from the MEIF Proof of Concept & Early Stage Fund, which is managed by Mercia and part of the Midlands Engine Investment Fund (MEIF), and the government’s Future Fund.
Management at the company said they had been bucking the industry trend, and were now planning to use the funding to create seven new jobs.
Iventis provides a platform for big events, exhibitions and festivals, that helps large teams collaborate online to plan and manage complex operations by bringing together mapping, architectural drawings and other data.
The company was founded by Joe Cusdin, who worked on the London 2012 Summer Olympics, who said the pandemic had increased demand for its software – even though the events sector as a whole has taken a hammering.
He said although major events and festivals had been postponed, reorganising them with social distancing and events teams working from home had increased the demand for online tools and more detailed planning.
The latest funding round follows a £250,000 investment by MEIF last year.
Iventis non-executive chairman Keith Greetham said: “I’m delighted to see Iventis make huge leaps forward in its growth.
Most Read
“The company is recruiting talent from within the events industry, which has suffered immensely during the pandemic.
“We already have high-profile early adopters of the Iventis software, many of which are relying on its capabilities to reschedule and redesign their events.”
Sandy Reid, investment director at Mercia, said: “Iventis is well positioned to help the events industry reorganise events and recover from the impact of the pandemic.
“The business continues to build relationships with top-level global event organisers and this investment will allow it to expand its team further as client numbers increase.”
Pat Doody, who chairs of the Greater Lincolnshire Local Enterprise Partnership, said: “Iventis is a great example of an innovative Lincolnshire tech business and we’re very pleased to see its growth supported by this funding.
“The events and festivals sector has been hit hard by the pandemic and we applaud Iventis for adapting and innovating in order to support event organisers in the 海角视频 and around the world.
“It’s fantastic to see more and more businesses thriving in the emerging digital cluster we have here, and good to see that they’re being nurtured in a really supportive business environment.”
The Midlands Engine Investment Fund project is supported by the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.