Bristol software developer Amdaris raises £6m
Posted on June 4, 2020 by Alistair Hardaker
Software developer and digital transformation specialist Amdaris has raised £6m to support its organic and acquisitive growth strategy.
Headquartered in Bristol, Amdaris employs more than 200 developers, averaging 40% revenue growth per annum over the past three years to £7.2m.
The firm’s key sectors of operation include real estate, recruitment, education, financial services and energy.
Amdaris’ team in the UK is supported by centres in Romania, Moldova and Dubai, providing customers with nearshore services through a company-wide collaborative approach to software development.
Under the leadership of co-founders Vlad Nanu and Andy Rogers, the firm is now planning its growth strategy, which will include “exploring strategic acquisition opportunities” with the support of investor BGF’s financial backing and its growth and M&A experience in the IT software and services industry.
Investor BGF has recently announced the exits of web hosting company Miss Group, following a highly successful buy and build strategy, and Vsyiion Group, an IT services company.
As part of the investment, Paul Brennan has been appointed as Non-Executive Chairman.
Rogers, co-founder of Amdaris said: “This investment marks the beginning of what we are confident will be a new phase of growth. The Amdaris team has huge ambition and potential to scale-up, having firmly established a quality business and an increasingly recognised brand.”
Alex Garfitt, an investor at BGF who will join the board of Amdaris, said: “We are delighted to have completed this investment amid highly unusual lockdown circumstances. Amdaris is a fantastic company with a dedicated and highly talented team and we see significant opportunity for further growth.