A proposed placing is to raise £21 million for workflow management firm Checkit.
The Cambridge company, listed in London, is a provider of software-as-a-service intelligent operation platforms to the deskless worker industry.
Funds raised by the placing will be used to expand the company’s sales reach to address a ‘global market opportunity’ with the aim of making North America its leading contributor to annual recurring revenue.
Checkit incorporates workflow management and automated monitoring of performance. It is used to manage and audit all routine duties including food safety, equipment monitoring, maintenance checks, health and safety, cleaning and operational management.
The company supported the NHS roll-out of the biggest public vaccination programme in UK history, supplying technology to help ensure the safe storage and management of COVID-19 vaccines.
The company’s chief financial officer was replaced in September, while in July Kit Kyte was promoted from CCO to CEO.