British arts and entertainment software provider Spektrix has raised £5 million in funding from two venture capital trusts.
The Foresight Group, Foresight VCT plc and Foresight 4 VCT plc provided the funding.
The company plans to use the fresh capital to fuel its international expansion, with a particular focus on North America.
Its SaaS platform includes solutions for ticketing, marketing, fundraising, analytics, and customer relationship management for arts and entertainment organisations.
Its clients include London’s Barbican Centre, New York Theatre Workshop, and Toronto’s Royal Conservatory of Music.
The investment is the first for the London company, which was founded in 2007 by Matt Scarisbrick and Michael Nabarro.
“The goal of Spektrix is to empower arts and entertainment organisations with the tools they need to excel in the evolving arts economy,” said Nabarro.
“This injection of growth capital gives us additional resources to expand strategically, increase the pace of innovation, and fully realise our ambitions for the sector on both sides of the Atlantic.”
Matthew Evans-Young, Investment Manager, Foresight Group, added: “The success which Spektrix has achieved to date, without external funding, means we are excited to support them as they look to replicate their impressive track record of success and innovation — at home and internationally — in the coming years.”