VCT News
Beringea Invests in Software Business MatsSoft.
16th March 2011 - London - Beringea, manager of the ProVen VCTs, has announced it has provided a £2.65 million investment package to software company MatsSoft. This expansion capital funding will come from ProVen VCT and ProVen Growth & Income VCT.
MatsSoft is a software company providing powerful and innovative web-based workflow and communications solutions. The software, which is marketed as MATS® as well as under other brand names by various resellers, includes a comprehensive management information suite and configuration tools. This allows companies and organisations to drive efficiency gains, cost reductions and service improvements across a whole host of business processes, including; case management, customer service, logistics, remote customer/patient management, complaints handling and supply chain management.
To date the company has developed a presence, and a high quality customer list, in business sectors including Financial Services and Healthcare. MatsSoft works globally with partners and resellers, from multinational telecommunications companies to smaller specialist organizations with expertise in niche market sectors.
Trevor Hope, Chief Investment Officer at Beringea led the deal and has joined the board. Trevor commented "After significant development, MatsSoft has a core software engine which can be applied to, and benefit from, growing trends and adoption of SaaS (Software as a Service) models, flexible process management systems, digital communication with customers and telemedicine. I am really looking forward to working with the experienced management team and helping them grow this innovative business domestically and internationally."
Martin Scovell, MatsSoft CEO added: "Over the past three years MatsSoft has grown to be a successful and profitable business with international blue chip clients. We now need to take that growth to the next level so that our resellers and partners can take full advantage of our great potential to deliver proven and innovative solutions in workflow, management information delivery and customer communications. We investigated a number of investors, seeking a partner with a multi-national footprint and a track record in our key growth sectors, which include finance and healthcare, and we decided that Beringea will add genuine value in excess of any financial investment. They are good people to work with and we look forward to growing the business with them."
MatsSoft was advised by Mediaventura, corporate finance advisors to the digital media sector.
About Beringea
Beringea is an international venture capital firm with offices in London and Detroit. In the UK Beringea manages ProVen VCT, ProVen Health VCT, ProVen Growth & Income VCT and Global Rights Fund II. Beringea launched its first VCT in 1996, making it one of the most experienced VCT managers in the UK. ProVen Growth & Income and ProVen VCT are highest performing VCTs of their launch years, respectively, according to www.taxefficientreview.com. For more information please visit www.provenvcts.co.uk.