Datascope Systems, a provider of software and hardware solutions to the global construction sector, has secured a multi-million-pound investment from BGF.
Founded by Adrian Butt, the Chester-based company has built a strong reputation for developing construction site management solutions, which help to drive efficiencies, enabling site managers, planners and contractors to digitally manage site attendance, logistics, permits and project planning, as well as ensuring contractors are compliant with safety and regulatory obligations.
The funding from BGF will allow the high-growth business to accelerate its ambitious growth strategy – both in the UK and internationally across infrastructure, residential and commercial markets.
“In the last 20 years, we have grown from a construction site hardware business, to a fast-growth SaaS company with four core product areas that have been specifically designed to help drive efficiencies across global, multi-billion-pound organisations,” said CEO Butt.
“Our aim is to quickly expand our international footprint in territories such as the US, the Middle East, mainland Europe and the Far East, while at the same time continuing to invest heavily in new product development and increasing our sales capabilities.
“In order to achieve these aims, we need an investment partner with excellent sector credentials, as well as an appetite to support our growth ambitions over the long-term. In BGF we have found that partner.”
The deal was led by Pinesh Mehta, Josh Bean and Elle Swire, investors in BGF’s Manchester team. As part of the investment, Geoffrey Finlay will join the board as non-executive chair.
Finlay is a chair and former CEO of FTSE, NASDAQ and PE-backed technology companies, including Logistyx Technologies and Navitas.
Mehta added: “Datascope is an exciting and dynamic technology business, which has all the ingredients to achieve substantial growth, with a highly ambitious senior leadership team, a strong core product offering, and a sizeable addressable market.
“When you combine these with BGF’s track record of helping tech businesses scale at pace, then you have all the hallmarks of a successful relationship.”