Remote Data Logging Experts Caption Data Poised for Further Growth Following Midven and Minerva Investment
A business that delivers cloud-based, real-time remote data monitoring services is poised for further growth following a £100,000 investment from venture capital specialists Midven and Minerva Business Angel Network.
Caption Data Limited (CDL), based in Worcester, supplies remote monitoring equipment to customers allowing them to access and assess data from distant sites and control that equipment via any PC, tablet or smart phone.
The company – formed in 2008 – has already made significant inroads in the environmental and structural monitoring sectors and is now poised to leverage additional business opportunities through expansion.
Caption Data’s monitoring equipment helps construction companies, damage restoration firms and other organisations such as the Environment Agency and water utilities to operate more efficiently, save money and meet obligations by monitoring assets or projects for which they are responsible.
Jon Penn, Managing Director of CDL, said a key component of the company’s success has been its cloud-based access to data from the remote devices, which allows data such as temperature, humidity, vibration and power consumption to be monitored and managed remotely.
Mr Penn said the investment came at a time when the company is poised for expansion. “Caption Data has grown to just under £500,000 in turnover very quickly and has developed a whole suite of products, but in order to grow more significantly and sell those products internationally, we needed investment,” he said.
“In addition to the environmental and structural monitoring markets we are also expanding into providing monitoring systems to original equipment manufacturers (OEMs) and we will continue to develop the business as more volumes come on-stream.”
Tim Powell, director of Minerva, who operate a number of investor groups including one based in Malvern, said: “Our investors were impressed with the advances the company had made in the last 18 months, their plans for growth that with investor support in both money and expertise they will now implement.”
Duncan Kerr, investment director for Midven, said Caption Data operated in a market with huge potential. “Caption Data’s products and services are well integrated and are first-to-market as a full service cloud-based offering. They have quickly established themselves in a number of sectors and there is an abundance of opportunities with companies they are currently engaged with, as well as new prospects which have been clearly identified.”
About Caption Data
Caption Data Ltd specialise in Internet-enabled remote monitoring systems that help their clients add value to their operations through data that is “online and real time”. The systems are robust and autonomous and simple to use in the field, but provide the level of functionality, data sophistication and data security needed by some of the worlds’ most demanding organisations.
Caption Data is headquartered in Worcester, UK, and their products are in service in more than 14 countries around the world.
The company recently won the “Innovation of the Year Award” from the BDMA for their HygroBug™ sensor (used to measure moisture content in damp building materials). CDL has also been featured by the BBC for their work monitoring restoration at “London’s Most Expensive House” and on CNN for the ability to monitor temperatures on aircraft as they are treated for pest infestations by heat. For more information, please visit www.captiondata.com.
Midven is the leading Midlands-basedprovider of venture capital funding to early-stage and established businesses.
The Birmingham-based venture capital firm currently manages five funds representing a total of £74m under management. Midven’s £8m Early Advantage fund provides investment for small, high growth businesses at start-up and early-stage in the West Midlands. It is partially funded by the European Regional Development Fund.
Midven was established in 1990 and has grown significantly since the existing management team took ownership of the business in 2007. The Midven team has established a reputation for delivering solid commercial experience and creative business solutions to help their portfolio companies achieve exceptional outcomes. For more information, please visit www.midven.co.uk.