Digital firm expanding
Proud aims for ‘best thing in Scots tech’ as Cortex soars
Growing team: Alexandra Walker, Peter Proud, Jerry Barton and Doug Cunningham
Cortex Worldwide CEO Peter Proud intends to open offices in New York and London and may raise external funds as part of plans to build “one of the next big things to come out of the Scottish tech scene”.
The digital technology company, based in the former GPO head office opposite the Balmoral Hotel, Edinburgh, marked its fifth year in business by recording double-digit revenue growth and upping headcount to 35.
The company is set to announce a series of business wins, including a UK bank, as well as board appointments during the first half of this year.
Cortex has developed a cloud-based web management content (WCM) platform that enables clients to create, deploy, analyse and optimise their digital estates.
Mr Proud, formerly a senior executive at Accenture and Microsoft, led a management buy-out from WPP in 2017. The company’s board includes John Waddell, former CEO of Scottish angel investment group Archangels.
“We are now moving rapidly from a technology services company to a cloud-native global software business,” said Mr Proud.
“We have a fantastic team, a best-of-breed product and some exciting new client wins to announce over the next few weeks and months. Overall, we’ve got big ambitions and have set our sights on being one of the next big things to come out of the Scottish tech scene.”
Cortex has attracted VC interest from the US over the last few months and is planning offices in New York and London.
Mr Proud said: “While the business continues to be self-funded – and we think that’s the right approach at this point in time – we’re not ruling out VC involvement with the right investors if that enables us to really step up our growth trajectory.
“The offices we are actively planning for New York and London mean we will be closer to our growing customer base in the US and Europe.”
Cortex is also planning a major rebrand exercise in the second quarter. Mr Proud said: “While our values and culture have remained constant, we are rebranding to better reflect how we help our clients drive digital transformation with a product that is now making a big impression with CIOs, CMOs and senior management teams at large corporates in the UK, Europe and the US.”
The firm became carbon neutral in 2019 following an extensive exercise that involved changing suppliers, offsetting emissions and implementing waste management processes.