Software firm receives £300k boost from Finance Yorkshire
Updated 12:32pm Wednesday 9th April 2014 in Business news
A YORK based software company's horizons are widening after it received a £300,000 investment from Finance Yorkshire.
Smartgate Solutions, launched in 2012 by Paul Johnson and Lee Williams, will use the Seedcorn Fund money to hire more staff and reach a wider market.
The company's main product - Radar Healthcare - helps businesses meet time-consuming and complex operational requirements and simplifies regulatory Care Quality Commission compliance.
Paul Johnson, Managing Director of Smartgate Solutions, said: “Lee and I have ambitious plans for Radar over the next three years – we have developed a solution that will benefit thousands of privately owned healthcare organisations to meet the business and industry challenges they face.
“We have developed a proven system which delivers the necessary benefits being demanded by the industry.
“This funding allows the business to accelerate its plans and see the products being adopted and bringing about real improvements to healthcare operations.”
The company, which is based at York Science Park, hopes the funding, and the extra staff it will pay for, can help meet its ambition to build a client base of more than 100 customers in the healthcare sector.
Graham Davies, Finance Yorkshire Investment Manager, said: “Smartgate Solutions has built a software platform that is being very well received by health care providers.
“We see great potential in the Radar platform and are confident that this company will create numerous jobs and be highly successful.”
Finance Yorkshire provides seedcorn, loan and equity linked investments, ranging from £15,000 to £2 million to help a range of small and medium sized businesses meet their funding requirements for growth and development.
To date Finance Yorkshire has made 543 investments totalling over £67.5 million.
The project is supported financially by the European Union. It has attracted £30million investment from the European Regional Development Fund (ERDF) as part of Europe’s support for the region’s economic development through the Yorkshire and Humber ERDF Programme, £15 million from UK Government and £45 million match funding from the European Investment Bank.
For more information visit www.finance-yorkshire.com
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