Manchester digital company gets £900K boost from group of investors
Manchester digital company Intechnica has secured a £900,000 investment package from Mercia Technologies – the parent company of Enterprise Ventures – Greater Manchester Combined Authority and three business angels.
It is the third major investment by the funds which first backed the company in 2013. Pannone Corporate advised Intechnica on the deal.
Founded in 2007, Intechnica’s software, TrafficDefender, helps online retailers deal with surges in demand at peak times such as Black Friday sales. The company, which employs 65 people, boasts customers such as ao.com and William Hill.
Intechnica managing director Jeremy Gidlow said: “It is exceptionally pleasing that our investors, who first backed the company four years ago, have once again demonstrated their commitment and belief in our innovative software and global ambitions.
“Our products and services provide solutions to the challenges of managing and optimising human and non-human web traffic, and this latest investment will help us tap into international markets as well as boosting our client base in the UK.
“We would like to thank the team at Pannone Corporate which has played a pivotal part in helping us secure our development funding.”
Tim Hamilton, partner at Pannone Corporate, said: “Intechnica is a long-standing client and a fantastic success story.
“Its innovative software, TrafficDefender, is a market leader in helping retailers and other businesses prevent the loss of sales and subsequent reputational damage from website slowdowns and crashes. We are delighted to advise on the latest round of funding as the company ploughs ahead with its ambitious expansion plans.”