Innovation and new funding streams are at the heart of major business growth for two Midlands entrepreneurs.
Webmoco co-directors Matthew Pearson and Carl Berisford-Murray have secured more than £800,000 funding to bring a pioneering software product to market, and have already more than doubled staff at their Leamington Spa business.
Attracting funding from leading venture capitalists Midven, which has just released a second tranche of funding amounting to more than £¼ million, has enabled the rapid development of their ground-breaking software product ‘Share’ which forms the core of their Realtime Knowledge system.
Further financial backing has come from a £91,000 grant from the Government’s innovation experts at Innovate UK.
Share – Realtime Knowledge has already been trialled and embraced by leading Midlands manufacturers and organisations such as Birmingham International Airport. Its potential to make businesses work smarter and save time and money makes it an invaluable tool.
It was developed after Matthew took part in the prestigious Goldman Sachs 10,000 Small Businesses Midlands programme, held at Aston Business School. There fellow business leaders highlighted that one of their greatest day-to-day issues was in reporting and tracking manual tasks with confidence.
Matthew Pearson, co-founder of Webmoco said: “When I spoke to colleagues on the Goldman Sachs 10,000 Small Businesses programme I realised that we could develop a solution which met and exceeded their needs, allowing them to use real-time information to improve business performance.
“During our development phase we have worked with major businesses across the UK and have achieved remarkable results. Now we’re ready to formally launch Share – Realtime Knowledge and anticipate there will be great interest from manufacturing, automotive, transport, aviation and the health sectors.
“Already our team has grown from 5 to 12 in the past eighteen months and we are on target for a further 100 per cent increase in staff over the next three years.”
Midven Investment Executive John Slaughter added: “We see great potential in Share: Realtime Knowledge as a product that can integrate into a wide range of business settings and become a force to be reckoned with in the corporate software arena.
“Webmoco are making great strides in developing a professional, task and workflow management solution and the release of the second tranche of funding amounting to £260,000 is testament to our faith in the product.”