A Lincoln company whose events software platform is used by organisers of international sports competitions has raised £400,000 to support its further growth.
Iventis has secured investment from the MEIF Proof of Concept & Early Stage Fund, which is managed by Mercia and part of the Midlands Engine Investment Fund (MEIF), and the government’s Future Fund.
The company, which has been bucking the industry trend, is planning to use the funding to create seven new jobs. Its tech enables large teams to collaborate online to plan and manage complex operations by bringing together mapping, architectural drawings and other data.
The company was founded by Joe Cusdin who had worked on the London 2012 Summer Olympics.
He said the pandemic has increased demand for its software as major events and festivals have been postponed and need to be reorganised with social distancing in place.
The latest funding round follows a £250,000 investment by MEIF last year.
Iventis Non-Executive Chairman, Keith Greetham, said: “I’m delighted to see Iventis make huge leaps forward in its growth. The company is recruiting talent from within the events industry, which has suffered immensely during the pandemic.
“We already have high-profile early adopters of the Iventis software, many of which are relying on its capabilities to reschedule and redesign their events.”