An award-winning provider of risk and safety management software is set to create 70 new jobs in Greater Manchester after securing a £750,000 investment.
The Greater Manchester Loan Fund, managed by Maven Capital Partners, has backed Shield Safety Group, which provides food safety, fire safety and health & safety software and services.
The funding will enable the Manchester-based company to target new customers by broadening its market reach and create the new jobs.
Founded in 2003 as a consultancy business, Shield Safety now provides SMEs and larger corporates with a comprehensive service to ensure that they are fully compliant with legislation.
A cost-effective solution, reducing complexity and risk by ‘making safety simple’, the business has successfully transitioned into a Software-as-a-Service (SaaS) business.
“Shield Safety is a born and bred Manchester business and we are committed to putting the city on the map as a tech capital,” said chief executive and founder Mark Flanagan.
“We spoke to a few different capital partners and quickly found Maven to be the clear choice as a result of their professionalism and approach. The whole team and I look forward to working with them as the partnership goes from strength to strength.”
Craig Hopwood, investment director at Maven, added: “This is a really exciting business and we were attracted to it straight away. Mark and his team are driven and passionate about the business and are focused on the compelling future growth opportunities in their markets.
“They have invested a significant amount of time and resource in creating a sophisticated technology platform alongside high level support for their clients. We look forward to working with Mark and the team, assisting their ambitious growth plans while boosting employment in the region.”
Andy Burnham, mayor of Greater Manchester, said the county has “always led the way in driving innovation and being forward thinking”.
“Our digital sector in particular is thriving and it’s important that we nurture these new developing companies as we work towards becoming the UK’s leading digital city,” he said.
“Through the fund and the investment announced today, we are demonstrating Greater Manchester’s ambition and commitment to do things differently, working with local firms to help them grow and create jobs and opportunities for local people.”