Par Equity and Scottish Investment Bank invest in tech company Agency Core
Agency Core, the SAAS company transforming software for creatives has, together with Par Equity and the Scottish Investment Bank, the investment arm of Scottish Enterprise, successfully completed a further round of investment this week to help Agency Core take its platform to a wider user base.
Andrew Castell, a partner in Par Equity, said “We are delighted to continue to support Agency Core and its very enthusiastic team in bringing to market their superior SAAS platform. After putting significant effort into refining and improving the platform, the company is now focusing on accelerating the growth of its user base.”
Agency Core gives creative agencies clarity by helping them manage their sales, projects and finances in one place. Business management tools are very often bland and boring, leading to poor take-up by staff. The Agency Core platform is intuitive, bold and exciting, offering users a refreshing and extremely effective alternative. It has also been built by people who have experienced first-hand the challenges of running a small creative agency and who have distilled what they have learnt into powerful and relevant functionality.
Since an initial investment in October 2015, the main focus has been on significant product development following the addition of CTO Andy Berry. This next stage of investment will be directed primarily towards increased sales and marketing activities and further raising the profile of the business across the UK.
Kerry Sharp, Head of the Scottish Investment Bank, said “We are pleased to support Agency Core via our Scottish Co-investment Fund and we look forward to continuing to work with this technology company as it continues to develop and and expand its business.”
The close of this round marks almost two years since co-founders Matt and Helen uprooted from Surrey and moved to Edinburgh (via a short stint living in a motorhome!) to take part in the UP Accelerator programme.
Helen said “We are so grateful to Danny Meaney and the team at UP for taking a chance on us and selecting us for the programme. Without this we almost certainly wouldn’t have moved to Scotland. The business has benefited greatly from the many opportunities, relationships and support the Scottish early-stage company ecosystem provides.”
Andy, CTO of Agency Core, reiterates this, explaining “The tech scene in Scotland, particularly in the Central Belt, is vibrant and supportive. Being based here is great for businesses like Agency Core because it attracts and retains talented people who want to be involved in dynamic forward-thinking projects.”
Agency Core CEO Matthew Davies said. “We’re extremely excited about the next phase of development for Agency Core. We’ve had a superb year and the team is working well together. We have a clear vision – to build the best tools for creatives that help agency owners enjoy the adventure of running their businesses. It’s fantastic to have continued support from Par Equity and SIB and we’re looking forward to working with them as we grow. The team has a clear plan for the future and we will be pushing hard in 2017.”