Leisure and hospitality tech provider Tevalis has secured an £11.5 million investment from BGF.
Headquartered in Hull and with more than 800 customers across 2,000 sites, Tevalis provides electronic point of sale solutions to help leisure and hospitality operators manage, streamline and deliver their food and beverage operations.
The Tevalis EPOS platform combines order and pay, kitchen, stock and cash management modules, with a suite of business analytics and reporting tools, with a broad range of third-party integrations to offer customers a seamless turnkey solution.
Working with the likes of Village Hotels, Boxpark, EG Group, Colchester Zoo and Ben & Jerry’s, Tevalis combines a complete product offering that can handle complex and multi-site operations with a customer-centric and solution-led approach.
Founded in 2005 by CEO James Cook, Tevalis has scaled organically to more than £8 million of annual sales and, with BGF’s funding, has ambitions of trebling recurring revenues over the next three to five years.
This will be supported by additional investment in sales and marketing, product and partners, as well as looking at potential opportunities for international expansion.
As part of the deal, Rob Caul, has been appointed as a non-executive chair following an introduction from BGF’s Talent Network – one of the largest groups of board-level non-executives in the UK and Ireland.
Caul brings with him a wealth of experience in scaling innovative software businesses, having founded, scaled and taken Kallidus, a leading-HR software business, through multiple rounds of PE investment.
“It was important for us to find an investment partner who understood our sector and could take a long-term, patient view,” said Cook.
“We also wanted an investor who could help us scale and take the business to the next level – in BGF we have that and we are looking forward to leveraging their network over the coming months and years to support our growth.”
The deal was led by Rob Johnson and James Baker – investors in BGF’s Yorkshire and North East team.
BGF investor Rob Johnson added: “We’re excited to be investing in a high-quality technology business of scale with an ambitious growth plan.
“Operating in a fragmented market, James and the team have done an impressive job in establishing the Tevalis brand, with clear opportunities to increase market share, both at home and abroad.
“We look forward to building on the excellent relationship we’ve built with James through the deal process.”
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