Digital production firm bags £250k for expansion
An award-winning digital production firm in the North West which creates e-learning and training content has secured a £250,000 investment.
The funding from NPIF - Maven Equity Finance will help Lancashire-based eOrigen Learning and Communications (EO) to launch and scale its learning and development IT platform, INPIN, to become an accredited global training ecosystem and create 36 new jobs.
EO was originally established to produce digital media and bespoke e-learning and training content, and has developed a learning and development platform that brings training providers, large organisations and individuals onto a single eco-system.
The Preston-headquartered company now creates actor-led training films, 3D animations and interactive multimedia e-learning courses for clients including British Airways, EDF Energy and Sainsbury’s.
"We are privileged to have the backing and support of NPIF with this investment," said CEO and founder Mike Mulvihill, who has extensive film and TV experience as well as a commercial background working on projects for large corporate clients.
"It is an opportunity for the company to grow and achieve its rapid growth strategy to establish INPIN™ in the global learning market place. With our award-winning digital media and eLearning business we offer our customers a full lifecycle service.
"It is forecasted that by 2020, 50 per cent of all training will be online. With our company scope and capabilities, we are at the forefront of this transformation and are proud to be driving this from our head office based in Preston."
NPIF - Maven Equity Finance is managed by Maven Capital Partners and part of the Northern Powerhouse Investment Fund.
NPIF was advised by a team lead by Napthens corporate partner Richard Robinson.
Martin Clark, investment manager at Maven, added: "We are delighted to support EO's innovative L&D platform. EO is exactly the kind of business that NPIF is looking to support – its unique platform has a wide potential reach and is highly scalable, with two complimentary income streams and a blue-chip client base.
"The highly experienced management team led by the Mike Mulvihill has excellent contacts in the markets they are targeting, and we believe that the business is on track for rapid expansion and look forward to working with them to drive the business forward."
Andy Walker, head of business growth at Lancashire County Council, said: “Digital innovation is a key economic priority for Lancashire and eOrigen is a very good example of a dynamic business thriving in this sector.
“The fact this investment is helping to create jobs locally, while the company expands globally, is also great news for Preston and Lancashire as a whole, and I would encourage any Lancashire firms with similar growth ambitions to explore the funding opportunities offered by initiatives like the NPIF.”