Scotland-based 2i raises fresh funding to expand its software testing, automation and engineering services

Edinburgh-based 2i, a company that helps clients with testing and quality assurance, has secured eight-figure funding from Rockpool Investments, a London-based company that helps businesses grow fast.

Founded in 2005, 2i is a quality assurance and software testing company that helps both private and public organisations launch big IT programmes safely.

The company works with clients like the UK Home Office, Social Security Scotland, and NHS, as well as private companies like ABRDN, GB Bank, and New Look.

2i has over 200 employees all across the UK and claims to have been growing quickly in recent years. The company wants to increase its revenue to over £50M (nearly €58.15M) in the coming years. Currently, it makes over £20M (nearly €23.26M) every year.

Capital utilisation

Dave Kelly, who became CEO in 2022 after being Managing Director, is keen about the future of 2i. With the new money and support from Rockpool, Kelly wants to look into buying other companies. He’s hopeful about the next steps for 2i and its growth.

Kelly says, “We are absolutely delighted with this investment from Rockpool who we believe are the perfect partner to help us on the next stage of our growth journey.”

“Their support and expertise will help us to further develop our service offerings and identify acquisition opportunities to support our aim of becoming the premier quality engineering company in the UK.”

Brief about the investor

Rockpool Investments is known for supporting high-growth businesses with big growth plans. It invests between £5M and £15M (nearly €5.81M – €17.44M) in UK-based companies that are already making a profit. To date, the firm has invested over £675M (nearly €785M) in these businesses.

Rockpool’s 2i investment was led by Guy Nieuwenhuys and Will Beckett.

Guy Nieuwenhuys, Rockpool’s Investment Director, says, “We are delighted to be partnering with Dave Kelly and the 2i team as they continue their strong organic growth and embark on a buy-and-build journey.”

“We have been impressed by their proactive investment in talented people and automation products. The business is highly innovative and takes a strategic partner approach to working with its clients.”

“Increased digital change poses a huge risk to organisations as system failures can lead to significant financial and reputational issues for companies and their senior executives. 2i is well-placed to support, through its focus on high-quality delivery and client service.”