Forrit, the Edinburgh-based native cloud platform specialist, has received £5m in investment.
The funding from the Scottish National Investment Bank will help the Edinburgh-headquartered technology developer to create 15 jobs and target new markets.
Established in 2014 Forrit is a developer of cloud-based Content Management System (CMS) software.
Its cutting-edge platform is used by globally renowned businesses to enhance customer experience, guarantee high levels of online security, and enable more efficient management of cloud-based web estates for enterprise clients.
Forrit CEO, Peter Proud, said: “We’ve experienced enormous growth as a company since we launched almost a decade ago – building a brilliant team who have in turn created an extremely strong product.
“While to date we have self-funded our growth through client engagements, as we take Forrit to the next level, now felt like the right time for us to seek external institutional funding.
“This investment from the Scottish National Investment Bank will help us to expand our presence not only in Scotland but also to expand into new markets across the UK and beyond.
“We are incredibly proud of our Scottish roots, so working with another Scottish organisation was extremely important as both parties are focused on benefitting Scotland.
“We have ambitious plans and only want to add to the success of the Scottish tech ecosystem. We hope to continue to add to this both as a provider of an exemplary content management system, but also as an employer.”
The Scottish National Investment Bank was set up to invest patient capital in business, projects and communities that align with its missions.
To date £97.9m of backing has been provided to help harness innovation and provide support to industries of the future.
Jimmy Williamson, executive director of innovation at the Scottish National Investment Bank, said: “The bank’s investment will support Forrit as they look to reach the next stage of their development.
“Our investment will enable Forrit to create new, high value technology development jobs, futureproofing skills in Scotland’s tech ecosystem and supporting plans to export their differentiated proposition to enterprise clients globally.
“Forrit’s CMS system technology has a strong alignment with our Innovation mission and we look forward to working with them to deliver their ambitious growth plans.”