15th June 2018
Maven Capital Partners has led the £2.7 million investment in intranet software specialists Orchidsoft Limited.
A total of £2.2 million has been provided by Maven funds, which includes a £700,000 investment from the Finance Durham Fund, in addition to a £500,000 follow-on investment from existing backers Northstar Ventures, from the recently launched North East Fund supported by the European Regional Development Fund.
The funding will enable the business to expand its sales and marketing efforts across the UK and US and to grow its team of 45 employees to over 100 by 2022. The Finance Durham Fund was established by Durham County Council and overseen by Business Durham, the economic development organisation for County Durham....