Connect Technology wins fund backing

A SPECIALIST Lancashire software company has clinched backing from The North West Fund to develop products for the childcare sector.

Burnley-based Connect Technology Group has received a six-figure equity investment sum from the North West Fund4 Digital & Creative.

The money will be invested in the company’s ConnectChildcare business, which has a large customer base in the nursery and wider childcare market.

Founder Chris Reid said: “We had to go through a stringent seven-step process in order to gain investment and feel it is an enormous achievement to have won this backing.

“We are delighted that the fund holders AXM share in our vision and passion and are able to help the Connect team bring our plans forward.”

Connect Technology currently employs 13 staff, but will now be recruiting sales staff.

Mr Reid added: “We are passionate about delivering innovative technology-based systems that allow childcare staff to spend more time nurturing the children in their care.

“Currently, we are in the process of developing some very exciting, ground-breaking solutions which we believe will be of mutual benefit to nurseries and parents alike.

“With some 150,000 nurseries throughout the UK to approach, we needed to increase our sales team in order to maximise on these opportunities, and in the first instance, the funding will enable us to employ sales managers for both the north and south.”

Chairman, Ashvin Pathak, added: “It is fantastic that, through the funding, we are now able to grow the company earlier than anticipated and we expect some very exciting developments from ConnectChildcare in the next 12 months.”

David Smith, investment director at fund manager AXM Venture Capital, added: “We are delighted to support Connect’s expansion, and have strong expectations that the company will in the short term become the leading vendor in its market.”