Investment in software firm
Child safety app secures £3.75m from Souter
Sir Brian Souter: backing app company (photo by Terry Murden)
Education software company CoachHire.com has secured £3.75 million from Souter Investments, the investment office of Stagecoach chairman Sir Brian Souter.
The deal will allow the company to roll out its suite of apps for drivers, parents and school staff.
Its flagship SchoolSafe software uses tracking and travel technology to alert parents to the location of their children.
CoachHire.com’s managing director and founder, Mathew Hassell, said the company now had the backing it required to realise its ambitions to expand the service.
Founded in 2011, the company expects revenue to exceed £7m this year and is on track for more than £10m next year. It plans to add more than 60 schools to its customer base and create 50 jobs.
John Berthinussen, investment director at Souter Investments, said: “We look forward to supporting Mathew and his team for the next phase of growth.”