£11.6m funding for fast-growing tech firm
A global technology company headquartered in Reading has secured £11.6 million funding from BGF.
Founded in 2006, Invenio provides consulting services and technology solutions for organisations in the media, manufacturing & logistics and public sector verticals.
The firm has more than 750 employees working for customers worldwide with delivery centres across seven countries: the UK, India, Mauritius, Saudi Arabia, Fiji, USA and UAE.
SAP, the world’s largest enterprise software vendor, named Invenio as one of its leading partners globally for tax and revenue management and the media industry.
Invenio’s customers include Universal Music Group, Kuehne & Nagel, the BBC and the Fijian and Saudi Tax authorities.
The investment from BGF will help the business scale by expanding its offering, improving its services and growing through acquisition.
Arun Bala, CEO of Invenio, said: “Invenio was set up on the core values of exceptional customer focus, deep industry and technology expertise, transparency and employee care.
“Our core values, a unique culture and a highly valued customer engagement model have helped us grow over the last 13 years and maintain deep relationships with our clients.
“We are delighted to have BGF on board for the next stage of our journey and are looking forward to making the most of the team’s expertise in this space.
“BGF’s investment will help us continue to invest and grow to meet demand, whilst keeping control of our business and staying true to our values.”
Alex Snodgrass, an investor at BGF who will join the board of Invenio, said: “Invenio is a fantastic, fast-growing business which has created a market-leading position and a loyal and constant customer base.
“Arun and the team have exceptional deep domain knowledge and experience, and we’re delighted to be a part of this exciting next step for Invenio as it grows to meet demand on a global scale.”