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Muckle support Mercia on further tech deal

23rd Mar 2020 | Corporate Finance
Muckle support Mercia on further tech deal

Our corporate team has advised Mercia on another significant investment into a North East tech business.

Notify Technology, a Newcastle-based health and safety software firm, has completed a £370,000 funding round.

The company has secured further funding from the North East Venture Fund (NEVF), which is supported by the European Regional Development Fund and managed by Mercia, alongside investment from its Chair, Jayne Archbold, and existing management.

Solicitor Stephanie Brown led the legal advice to the Mercia team, with support from partner Adam Rayner, having previously advised Mercia on several other tech business investments.

How the investment helps

Notify, which uses technology to automate processes, predict risks and reduce the toll of workplace accidents.

The investment will be used to help Notify hire additional customer service and sales staff, broaden the software offering and expand its client base.

Chief executive of Notify Duncan Davies said: "This funding will enable us to accelerate our growth whilst continuing the positive engagement we have with our client base."

Mercia first backed the company through the fund with an initial £500,000 investment in November 2018, a deal that our corporate team also advised on.

Since then Notify has tripled its monthly revenues and secured major client wins, including Siemens Mobility, Wickes, ThyssenKrupp, and the English Football League.

Support that boosts growth

Jan Oosthuizen, investment manager with Mercia, said: “Notify has gone from strength to strength in the last 12 months, having broadened its service offering and won some major new clients. We’re delighted to continue to support the business in the next phase of its growth."

He added: “Muckle have always provided high quality and practical legal support that has been great for helping us to deliver successful investments and we were pleased to have their support again on this deal.”

Can we help with your business legal needs? Please contact Adam Rayner on 0191 211 7962 or email [email protected] to learn more.

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