A South Wales technology business is accelerating the development of its artificial intelligence capabilities and targeting further growth with support from HSBC UK.
de Novo Solutions, based in Newport, will use a seven-figure funding package from HSBC UK to invest in its technology and intellectual property as it enters its next stage of expansion.
The business extends the Oracle Cloud and ServiceNow technology platforms to deliver industry cloud solutions that meet the specific needs of organisations across local and central government, policing and education.
Its sector-specific solutions provide a reusable foundation for corporate functions, HR, payroll, finance and procurement, helping organisations deliver digital transformation faster and more cost-effectively.
The funding will support further development of de Novo’s offering, including what the company describes as a first-of-its-kind blueprint for the Oracle platform for local government and policing. Its local government blueprint – Odyssea® Local Government Association (“OLGA”) is currently being implemented at Cardiff Council.
de Novo is targeting 20% year-on-year growth in its revenue and customer base as it expands across existing markets in the UK and internationally.
“Public sector organisations are under growing pressure to modernise essential systems while making budgets work harder, creating a clear need for technology that can deliver meaningful improvements quickly and at a sustainable cost,” said Mark Sweeny, founder and executive chairman.
“This funding allows us to accelerate investment in our technology and bring new capabilities to market sooner and expand our customer base in the UK and internationally. HSBC UK understands our ambitions for the business and the importance of having strong partner here in Wales, making them a natural fit for our next stage of growth.”
Dafydd Roberts, relationship director at HSBC UK, added: “Wales is home to a thriving technology sector, with ambitious businesses developing solutions that can compete on a national and international stage.
“The right funding can help companies build on that ambition by giving them the confidence to invest, innovate and expand. De Novo is a great example of a Welsh business with strong foundations and a clear vision for growth, and we’re pleased to support its next chapter.”