GLASGOW university technology spinout VeryConnect has secured a funding boost after winning business in 10 overseas markets.
The company, which develops customer relationship management software for membership organisations, has been awarded a loan under the £36 million Scottish Government programme to encourage small and medium sized enterprises to capitalise on advances in digital technology.
Founded by Simon Jouet and Kyle White, VeryConnect said it would use the £50,000 digital development loan to continue the strong growth it achieved last year and to improve staff digital skills.
The Glasgow-based firm reckons the funding will allow it to achieve a 90 per cent faster client response rate and to help it speed up the development of new product features.
“We have a strong sales pipeline and this capital will help us to invest in bringing the right expertise into our team earlier than we could have otherwise,” said Mr White.
The digital development loan programme forms the first phase of the Scottish Government’s Digital Growth Fund initiative. It is managed by Lanarkshire Enterprise Services supported by DSL Business Finance.
Digital Economy Minister Kate Forbes said the loans have provided a popular way of enabling the aspirations of SMEs, noting: “We look forward to more funds being invested in the coming months.”
VeryConnect says its software can help membership organisations save 80 per cent on administration time while helping to increase engagement with members. Its products can automate payments, communications, and database management work.
VeryConnect was spun out from the University of Glasgow in 2013. Mr White got a PhD in Computing Science from the university after completing research at NASA in the USA. Mr Jouet completed doctoral studies into data centres.
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