A Leeds tech firm is set to create jobs and invest in research and development after sealing a £1.6m investment deal.
Bramham based eviFile is a software provider for the built environment, supplying information across field data and project reporting. Its web and mobile platform is designed to boost quality, minimise risk and support regulatory compliance for complex infrastructure projects and its platform also provides real-time data insights, as well as an “advanced digital evidence solution”.
The business has blue-chip clients in the rail, utilities, renewables and construction sectors, working with organisations including Network Rail, Drax Power, Alstom, Siemens and SPL Powerlines. Now the digital transformation specialist has announced the seven-figure investment and strategic partnership with Maven Capital Partners, through NPIF II - Maven Equity Finance, managed by Maven as part of the Northern Powerhouse Investment Fund II (NPIF II).
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Over the last year eviFile has reached double-digit revenue growth, driven by rising regulatory requirements such as the Building Safety Act. As part of its growth, eviFile is investing heavily in artificial intelligence to transform how complex infrastructure projects are delivered, to help its clients improve decision making, reduce errors and deliver projects more safely and efficiently.
With Maven’s support eviFile will expand its R&D, grow its sales and marketing teams and further boost its platform capabilities. Nick Halliday, founder of eviFile, said the partnership marks the beginning of the next stage in eviFile’s journey, enabling the company to scale faster and deliver even greater value to its clients.
He said: “This is a really exciting time for eviFile. Our platform has been built to help clients take control of their project workflows with trusted data and real-time insight.
"Partnering with Maven gives us the support to scale faster and further. We’re looking forward to what this next stage brings and are confident that this partnership will help us deliver even more value and a better solution to our clients.”
David Nixon, senior investment manager at Maven Capital Partners, said: “eviFile has a highly scalable, proven operating model driven by a strong management team with a clear vision. With the significant uptick in digitalisation in the sector, the business is well positioned for continued growth within several verticals. We’re delighted to support Nick and the team as they execute their ambitious plans.”
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The £660m Northern Powerhouse Investment Fund II (NPIFII) covers the entire North of England and provides loans from £25k to £2m and equity investment up to £5m to help a range of small and medium sized businesses to start up, scale up or stay ahead.
The purpose of the Northern Powerhouse Investment Fund II is to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the North of England. The Northern Powerhouse Investment Fund II will increase the supply and diversity of early-stage finance for the North’s smaller businesses, providing funds to firms that might otherwise not receive investment and help to break down barriers in access to finance.
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