A construction and project management software company has secured support from Finance Durham, which is managed by Maven Capital Partners, in a £ 300,000 funding.
The Finance Durham Fund, established by Durham County Council and overseen by Business Durham, Durham County Council’s business support service, has invested £ 185,000 in project monitoring tools.
Project Control Tools provides software to support projects, primarily in the rail and construction industries.
The company has developed two platforms: SiteMate, which enables projects and businesses to digitize site and project management processes with the goal of helping compliance, monitoring on-site performance and ensuring safe and successful project delivery; and StoresMate, which tracks the use of tools, consumables, and inventory on projects – and adds traceability and accountability over asset use throughout the property or lifecycle. rental.
These are already in use by customers such as Network Rail, Balfour Beatty and Siemens as well as companies along the supply chain.
The funding will support the company as it expands to open a location in County Durham, and allow it to invest in its in-house product development to grow its portfolio and improve its sales and marketing function.
Fin Gregory, Managing Director of Project Control Tools, who co-founded the company with COO James Staines, said, “We are really excited to close this investment round. We have worked very hard over the past few years to build our platforms, our product awareness and our loyal customer base.
“Our main goal is to make life easier for our customers by providing easy-to-use turnkey solutions that enable immediate digital transformation of all site and project processes. The investment will allow us to accelerate our growth plan , adding to our account management, sales, marketing and development teams and looking at other issues we can solve in the industry. “
Peter Smith, Investment Partner at Maven, added: “Project Control Tools’ innovative technology solutions facilitate digitization for the rail and construction industries to remove paper-based processes from the site, thereby streamlining efficiency and saving money. time and money.
“This is a great opportunity for the Finance Durham Fund to provide a growing software company with a relocation package to join the burgeoning technology space of County Durham. We look forward to working with Fin, James and the team as he embarks on a program of growth. “