Major investors back London software firm with £41m
A London-based tech firm whose software helps major organisations transform how they manage and use their data has secured a £41m boost to fuel its global expansion plans.
The growth equity investment in Concentra Analytics was led by One Peak Partners, with participation from Morgan Stanley Expansion Capital, Joseph Schull, Connected Capital and existing shareholder City Securities.
Concentra develops Software as a Service (SaaS) data solutions used to visualise, model and track business operations.
The company's data-driven tools are said to give organisations new ways to drive insight, performance and competitive advantage.
Its flagship product, OrgVue, brings together organisational data held across different systems, making it possible for enterprises to understand, design and deliver more effective and efficient operating models.
It is used by more than 25 FTSE100 and S&P100 companies.
"This is a significant milestone in Concentra's history and the beginning of an exciting new era for the company," said founder and CEO Rupert Morrison.
"Enterprises across all industries are undergoing continuous transformation and are challenged to create more effective operating models and processes to deliver their strategic goals.
"The application of innovative technology to design, transform and operate the most effective organisation is at the heart of OrgVue's mission."
Concentra employs 170 people globally, with offices in London, Philadelphia, The Hague and opening in Hong Kong. The investment will allow it to further extend its international footprint and increase investment in its SaaS solutions.
In conjunction with the closing of the investment, Joseph Schull, the former Head of Europe at Warburg Pincus, has joined the investor group alongside One Peak Partners and will become chairman of the board of directors at Concentra.