Founded in 1995 in Scotland, SHE software, global health, and safety software company have announced the completion of £7 million (approx €8.2 million) Series B investment led by Frog Capital from its new growth equity fund. Other existing investors, including Northern Venture Capital Trust (VCTs) Funds at Mercia Fund Management Limited, also participated.
With this investment, the Scottish company intends to use to accelerate the growth of international operations, building on the momentum achieved over the last two years in North America. In addition to it, the company plans to increase headcount, expanding its talent pool by 60, including 15 new jobs announced earlier this year following funding from Scottish Enterprise.
Matthew Elson, CEO of SHE Software, explains:
From our dominant position in the UK and Europe, we are now focused on scaling operations in North America and Australasia. Our customers are individuals who deal with complex and dispersed operations where the more traditional approach to managing health and safety is no longer adequate.
Developing health and safety management software for 20 years!
For 20 years, SHE Software has been developing health and safety management software. Assure, their health and safety software solution provides organisations with an easily accessible way to manage health, safety, and compliance.
Elson continues:
We chose the Frog team because of its focus and expertise in scaling software companies like ours internationally. Frog’s Scale-Up Methodology and Operating Partner team stood apart from our other options, and we very much look forward to writing the next chapter together.
The company has a client base of more than 250 companies, including Network Rail, New Balance, Vaillant Group, and Renewi. The company’s cloud-based mobile-first platform is transforming the corporate approach to health and safety management.
It’s worth mentioning that, Global spending on EHS (Environmental, Health, and Safety) software is expected to reach $1.9bn in 2024, with the mid-risk corporate market largely unserved by dedicated modern software services and is, therefore, experiencing significant growth.
Charlie Winward, Managing Director, Northern Venture Capital Trust (VCTs) Funds at Mercia, said:
We are pleased to continue our support of SHE Software and welcome Frog Capital in this new funding round. SHE Software exemplifies the benefits of the Northern VCTs’ approach to identifying and investing in UK technology businesses. By combining our commercial and sector expertise with exciting opportunities and talented teams, we are seeking to build successful businesses across the UK’s regions to create medium-term incremental shareholder value.
Main image credits: SHE software
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