Software firm gets £1m funding boost

SOFTWARE company REM Probe has secured £1m funding to further develop its software systems.

Partnership Investment Finance and Yorkshire and Humber Equity Fund, managed by YFM Venture Finance, has released the cash to the Shipley-based business, which specialises in energy and environmental monitoring.

REM Probe was established two years ago by managing director Kelvin Ager. It has developed REM Enterprise, a software enterprise system that allows large companies to manage and monitor their energy consumption.

Mr Ager said: “By analysing real time data from tens of thousands of sensors, we create a knowledge stream showing the changing environment of a company's entire estate in every office, branch, store and installation. No other solution offers this level of monitoring to such a breadth of industry sectors.”

The new round of funding will be used by REM Probe, which employs 15 staff, to further develop its software systems as it rolls out its services in the marketplace.

Mr Ager added: “The market is just right for sort of solutions REM Probe is offering and we already have several clients among the larger financial institutions and government departments.”

PIF investment manager, David Livesley, said: “REM Probe is one of several technology companies supported by PIF and YHEF and further expands our portfolio in this area.

“Kelvin Ager and his talented team are well placed to grow the business and especially at a time when companies are increasingly looking at their fuel costs and carbon emissions.”

PIF is a £37m investment fund aimed at supporting growing businesses in Yorkshire and the Humber. It aims to encourage enterprise and economic regeneration by providing equity investments and loans to eligible businesses in the region's Objective 2 areas.