Serial investor and technology entrepreneur Vin Murria OBE has invested in software firm Celaton.
Founded in 2004 by Andrew Anderson and Gary Grant, the Milton Keynes-based company’s intelligent document processing platform, inSTREAM, delivers consistent and measurable business technologies to processes such as accounts payable, sales order processing, customer correspondence and claims.
The company, which has a team of more than 20 people, has a number of blue-chip customers including eCommerce brand ASOS, retailer Dixons Carphone, telecoms group TalkTalk and consulting firm Capgemini.
Delivered as software as service, inSTREAM comprises multiple technologies including artificial intelligence, machine learning, robotic process automation and cognitive learning to improve efficiency, increase throughput, reduce errors and enhance compliance in a customer’s process.
Murria, founder and CEO of Advanced Computer Software Plc, will invest alongside growth capital investor BGF, which has supported the business for a number of years. Celaton’s existing individual shareholders have exited the business.
Murria currently sits on the board of a number of technology-centric businesses including Softcat Plc and SVB (UK).
“Celaton is a disruptive software business with an experienced management team and a supportive investment partner in BGF,” she said.
“I’m looking forward to working with both parties and Jim Chase, one of my excellent Advanced colleagues, to set out a clear plan for growth and realise the ambitions of this exciting, innovative business.”
Gina Gray, Commercial Director of Celaton, said: “We’re absolutely delighted to bring on board an established and hugely successful tech entrepreneur in Vin Murria.
“Celaton software is transforming the way that organisations handle their inbound information streams and as a result we’ve attracted an enviable high profile customer base.
“Our sights are firmly set on expanding our offering even further, and with Vin and Jim’s experience in scaling technology businesses, the future is very positive.”
Grant Thornton UK LLP’s corporate finance team advised Celaton on the deal, while Shoosmiths also advised the Celaton shareholders.
Mike Hughes, Corporate Finance Director at Grant Thornton, said: “We are really pleased to have supported Celaton, a long-standing client at the cutting-edge of the computer software sector, achieve this outcome.
“We are confident in its future prospects as the business benefits from the excellent market knowledge, connections and additional resources Vin Murria will deliver alongside BGF.”