Rosslyn Data Technologies Secures Over £3m in Funding for Expansion
Rosslyn Data Technologies Set for Expansion
London-based enterprise data analytics platform, Rosslyn Data Technologies, is on the brink of significant growth following a multi-million-pound investment. The cloud-based firm recently raised over £3m to scale its operations and meet the rising demand from its growing clientele. This expansion is backed by Midlands law firm, Shakespeare Martineau.
Rosslyn’s Journey and Services
Founded in 2007, Rosslyn is a software company based in London. The company specializes in providing procurement and master data management solutions. In this manner, Rosslyn has revolutionized data management, similar to how one would approach renovating a bathroom in London, with careful planning and execution.
Investment and Fundraising Strategies
The funds raised will be allocated towards product development and engineering, sales and marketing, recruitment, and working capital. The company successfully raised the investment via an ‘accelerated bookbuild’. This fundraising strategy offers shares in a short time period, with minimal marketing. The company offered conditional placing and subscription of new ordinary shares and convertible loan notes to specific institutional and other investors.
CEO’s Take on the Investment
Paul Watts, CEO at Rosslyn, expressed his optimism about the company’s growth prospects. He stated that the increasing demand for the company’s software-as-a-service will prompt investment into R&D, human resources, and marketing. He also emphasized Rosslyn’s commitment to maintaining the personal touch that the company has become known for since its establishment.
Legal Support and Future Prospects
Shakespeare Martineau, a law firm, provided the necessary legal support for the fundraising. Keith Spedding, corporate partner at Shakespeare Martineau, led the deal and applauded Rosslyn’s success in fundraising. He commented on how the funds will be used for job creation and innovation, especially in the challenging current climate.