Dundee tech firm boost
App firm Waracle hires chairman and receives BGF funds
Chris Martin: ‘right partner’
Mobile app and digital product developer Waracle has received a £4.8m investment to support its expansion into England and overseas.
Founded in Dundee in 2007, Waracle designs, develops and manages mobile apps and other digital products, working with some of the UK’s largest businesses, mainly across fintech, digital health and energy. Its solutions include mobile, IoT and extended reality.
The company was acquired by Edinburgh-based IT firm Exception in January 2016 and now has 140 employees in Dundee, Edinburgh and Glasgow. It recently strengthened its London office with several key hires and the new investment from BGF will accelerate its growth plans.
Duncan McIntyre, chairman of BGF-backed Helecloud, has been appointed non-executive chairman following an introduction from BGF’s Talent Network.
Chris Martin, CEO of Waracle, said: “We’ve built a fantastic business over the last 12 years, investing in great talent and building long-term partnerships with some of the UK’s most recognisable brands.
“We’ve now identified the right partner in BGF, with a great team that understands and supports our growth strategy. BGF’s expertise, coupled with Duncan’s knowledge and experience, will be invaluable as we enter this next stage of our growth.”
The investment was led for BGF by Richard Pugh and David Fraser.
Mr Pugh said: “We’re delighted to welcome Waracle to the BGF portfolio, a business which has cultivated a fantastic reputation with a rapidly-growing blue-chip client base and is supported by a great team that we’re looking forward to working with.
“We’re also proud to make our first investment in Dundee, an important part of the country for BGF and a hub of innovation and talent across a number of sectors that we’re keen to work with in the future.”