Leicestershire software company secures new funding

Synety has agreed a £900,000 loan to be provided by Barclays Innovation Finance, which it says will help the company to expand its UK and US sales forces and capitalise on growth in the last 18 months.

Leicestershire based Synety was founded in 2011 and is the parent brand for computer telephony integration software, CloudCall. CloudCall offers CRM phone integration and is currently used in 25 countries. The business aims to be a worldwide market leader in integrated communications through its CloudCall hub, connecting a business to its CRM systems.

Simon Cleaver, CEO of Synety says: “We’re delighted to announce this credit facility with Barclays Innovation Finance. We found it very refreshing to be working with an organisation that understands the needs of a fast growing technology business and see this as the first step in an on-going and growing relationship.”

The loan is part of Barclays Innovation Finance and will be backed by a guarantee of the EIF, enabled by the InnovFin initiative with financial backing from the Commission’s Horizon 2020 programme.

Sean Duffy, head of technology media & telecoms at Barclays, said: “Synety’s dedicated team behind the technology supporting its software has helped this company to take flight. We were impressed by the businesses’ ability to scale and are pleased to support them with this new credit facility.”