Administrate raises £5m to support rapid growth
Administrate, a Scotland-based training platform, has raised £5 million from existing investors Archangels, Mercia, and the Scottish Investment Bank, and has brought in Hambro Perks which led the funding round.
Funds will be used to support the company’s rapid growth and meet the needs of its North American enterprise customer base.
The company, which was recently recognised as one of the fastest-growing tech companies in the UK by global tech and advisory firm GP Bullhound, provides a scheduling and logistics platform used by some of the biggest brands in the world to manage their complex global training operations.
Administrate is headquartered in Edinburgh, with an office in Bozeman, Montana, US.
Usman Ali, partner at Hambro Perks Growth Debt Fund, said: “Backing Administrate was an easy decision. Administrate is an innovative and rapidly expanding business that has continued to deliver double-digit growth within its enterprise customers segment in the last couple of years.
“We strongly believe that the business has tremendous growth potential and we look forward to seeing the business expand in the coming years.”
Niki McKenzie, joint managing director at Archangels, said: “With an impressive roster of customers on their books, this new funding package will allow the team to accelerate growth, particularly stateside, where they have seen significant growth among large multinational corporations.”
John Peebles, CEO of Administrate, said: “Our team has done an incredible job delivering for our customers. Our capital partners understand the unique opportunity ahead of us, and we’re excited to continue building on our success in a sustainable way.”