Native cloud platform Forrit is set to expand its operation after receiving scale-up support from the Scottish National Investment Bank.
The £5m should allow the Edinburgh-headquartered technology developer to expand its workforce and target new markets.
Established in 2014, Forrit is a developer of cloud-based content management system (CMS) software.
The bank’s backing will see the creation of 15 new jobs and should also help strengthen its relationship with Microsoft as a ‘Preferred Solution’ and trusted partner.
Forrit chief executive Peter Proud, said: “We’ve experienced enormous growth as a company since we launched almost a decade ago – building a brilliant team who have in turn created an extremely strong product.
“While to date we have self-funded our growth through client engagements, as we take Forrit to the next level, now felt like the right time for us to seek external institutional funding.
“This investment from the Scottish National Investment Bank will help us to expand our presence not only in Scotland, but also to expand into new markets across the UK and beyond.
“We have ambitious plans and only want to add to the success of the Scottish tech ecosystem, so we hope to continue to add to this both as a provider of an exemplary content management system, but also as an employer.”
Jimmy Williamson, executive director of innovation at the Scottish National Investment Bank, said: “Our investment will enable Forrit to create new, high value technology development jobs, future-proofing skills in Scotland’s tech ecosystem and supporting plans to export their differentiated proposition to enterprise clients globally.
“Forrit’s CMS technology has a strong alignment with our innovation mission and we look forward to working with them to deliver their ambitious growth plans.”
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