Software fim STC Insiso raises £2m for expansion
Software firm STC INSISO has announced a £2 million investment from BGF to support a growth strategy focusing on the company’s evolving suite of products.
STC INSISO has developed products aimed at improving business processes and performance in the oil and gas, construction, marine and utilities sectors.
Annual revenue for 2022 was £4 million and is expected to grow significantly over the next four years. The investment has already resulted in the creation of three product development positions, and further recruitment will continue this year.
The deal was led by Keith Barclay, an investor based between BGF’s Aberdeen and Edinburgh offices.
Mr Barclay said: “The team’s bold ambitions have been evident in each of our interactions, and I look to working in partnership with them to see these materialise.”