Second deal in two days for Mercia Technologies

INVESTOR Mercia Technologies has invested a further £3.5m in Science Warehouse to increase its stake from 45% to 63%.

It follows yesterdays’ announcement from the Henley-in-Arden plc that it had made a £1m investment in Soccer Manager, a developer of online football management games.
 
This latest round of funding in Leeds-based Science Warehouse will allow the business, which already has a profitable business model with 90% recurring revenues, to further increase its growth trajectory and international expansion.
 
Established in 2000 as a spinout from the University of Leeds, Science Warehouse delivers a “cloud-based procurement, catalogue and spend analysis platform with a highly intuitive user interface, giving the customer control of the purchasing cycle from requisition to payment”.

It offers a network of more than 25,000 suppliers and an online catalogue of more than 17m products and services optimised for e-procurement, ranging from office and scientific supplies to catering and travel.
 
Its solutions include tools such as product and price comparisons, contract compliance monitoring, and benchmarking, which help organisations control their expenditure and deliver year-on-year bottom-line savings.
 
Its clients include Russell Group universities across the UK and NHS trusts as well as a number of private sector clients.
 
Mark Payton, chief executive of Mercia Technologies, said: “Science Warehouse is a highly disruptive business with an industry leading platform. We are delighted to continue our support as it looks to expand further within the UK and to scale up for overseas growth.
 
“We believe there is a significant market opportunity for Science Warehouse’s leading platform and this latest investment from Mercia will help to drive expansion and further build on its extensive customer base.”
 
David Hames, founder and executive chairman of Science Warehouse, said:
“Science Warehouse offers its customers a unique value proposition, combining a best-in-class SaaS solution with data management services, delivering better decision-making and substantial cost savings.
 
“With full supplier reach, we streamline buyer-supplier interactions and remove inefficiencies from the supply chain.
 
“There are exciting market opportunities for Science Warehouse both in the UK and overseas. This latest investment from Mercia recognises the considerable potential for us to expand our business in key markets and capitalise on the fast-growing interest in our solutions.”
 

Click here to sign up to receive our new South West business news...
Close