Scottish tech firm secures £5m funding to grow ambitions in North America
A Scottish technology business which provides companies with a platform to manage complex training schedules has secured £5m funding to grow their operations in North America.
The Edinburgh-based firm Administrate raised the seven-figure funding through existing investors and new investor Hambro Perks, who contributed £3m.
Following the successful round of funding, Administrate will use the cash injection to support the company's growth and meet the varied needs and growing customer base in North America.
Administrate have already established a base across the Atlantic in Montana and their scheduling and logistics platform has been used by large firms such as Maersk, Royal Carribean Group and Siemens Healthineers.
Usman Ali, partner at Hambro Perks growth debt fund said: “Backing Administrate was an easy decision. Administrate is an innovative and rapidly expanding business that has continued to deliver double-digit growth within its enterprise customers segment in the last couple of years.
“Their platform is well suited to the needs of large corporations that operate in multiple geographies. We strongly believe that the business has tremendous growth potential, and we look forward to seeing the business expand in the coming years.”
John Peebles, chief executive of Administrate, said: “Our team has done an incredible job delivering for our customers. Our capital partners understand the unique opportunity ahead of us, and we’re excited to continue building on our success in a sustainable way.
"I’m proud of some of the key innovations we’re launching within our platform this year which include our AI-powered scheduler and significant improvements to our headless architecture strategy. These tools within our platform can transform training operations and drive significant ROI (return on investment) for our customers in unprecedented ways.”