Comply Serve speeds up plans after new funding round

SOLIHULL-based project compliance software firm Comply Serve is to accelerate expansion plans following investment from a syndicate of partners, including Midven and Catapult Venture Managers.

Midven first invested in Comply Serve through its Advantage Growth Fund in 2007. Now, together with Catapult Venture Managers and Chord Capital, it has now made a “substantial” further investment. Catapult made its first investment into the company in December 2008.

Comply Serve partners with organisations all over the world on long-term infrastructure projects and, as a result, has already been able to project its ten year forward order book.

In recent months the firm has secured new contracts with a number of high- profile organisations and projects including Etihad Rail, currently the largest rail project world-wide, Banedanmark (Danish Rail), a major signalling programme to improve the Danish state railway network, and Laing O’Rourke Australia for a major rail electrification project in South Australia. 

Mark Chambers, Comply Serve chairman, said: “Securing this additional investment will enable the business to build momentum a lot faster, building on the success to date.

“In the past 12 months the company has laid down some firm foundations for significant growth. With the recent appointments of Don Cameron as sales director and Steve Tosh as product development and operations director, we have added some exceptional talent to the board to ensure key milestones are met.”

Roger Wood, director at Midven, said: “Comply Serve has made significant progress since our original investment and continues to do so despite the difficult economic environment due to the significant cost benefits and efficiencies that its software provides to the management of large infrastructure projects.

“As such we are delighted to support the further expansion of the business through this latest funding round.”