After working with NEL Fund Managers around their purchase of the company, the management team at Washington-based software developer Datawright chose to go back to NEL for a second tranche of investment to help develop and launch an innovative new software solution.
Datawright works with some of the world’s biggest software developers, including Microsoft, Oracle and IBM, and supplies its Kingfisher ERP system to private sector organisations in the UK, Europe, US and the Middle East.
The company boasts several major international and domestic names on its prestigious client list, including Rolls Royce, Petrofac plc, Babcock and BAE Systems, as well as including Grainger plc, Azzurri and Tor Coatings.
NEL’s second £250,000 investment in the company was used to support the creation of a new product which aims to revolutionise the way in which multi-site companies run their financial systems.
Since launching in 2009, the SNAP 2.0 system has taken over one million pieces of paper off the desks at one of their clients alone and has attracted interest for its environmental benefits as well as its operational improvements.
Datawright managing director Jim Symonds says: “NEL’s genuine interest in getting the deal done, and the ‘can do’ attitude that the team offers as part of the application process made them the natural partner for this deal – they get closely involved and really appreciate what we’re trying to do with the business, as well as offering us the right kind of investment support to realise these plans.”