Cable-Sense wired for growth with £800k boost

A LANCASHIRE  business which helps companies to manage their IT networks more effectively, cutting operating costs and environmental impact, has secured £800,000 funding for growth.

Cable-Sense of Lancaster has  been backed by the North West Fund for Energy & Environmental to the tune of £650,000, while it has raised £150,000 from UMIP Premier Fund.

Technical director John Kelly and Professor Tony Peyton founded the business in 2004. Cable-Sense as developed an innovative, intelligent infrastructure management system that allows organisations to improve the management of their cable networks reducing energy, capital expenditure and operations costs.

The company’s strategic plan is to expand overseas and triple its turnover by 2014, has been working closely with the School of Electronic and Electrical Engineering at the University of Manchester to bring its products to market over the past few years.

Post-fund-raising Cable-Sense will boost its recruitment drive and take on a number of additional roles in sales, marketing and product development.

Michael Bakewell, investment manager at CT Investment Partners, fund manager of the NW Fund for Energy & Environmental has joined the board.

Geoff Butcher, chief executive of Cable-Sense, said: “Working with The North West Fund for Energy & Environmental and UMIP Premier Fund will provide us with the resources to rapidly develop our business.

“Their knowledge and expertise in the green IT space has added tremendous value to our company. We are confident that we can fill a substantial gap in the market and develop both nationally and internationally.”

Michael Bakewell added: “The green IT sector is thriving at the moment because of the increasing pressures for businesses to adopt eco-friendly practices and reduce energy costs. Businesses are looking for ways to reduce costs more than ever before and Cable-Sense is dedicated to delivering significant savings across your cabling network.”