16 September 2014
Comply Serve secures further funding
Comply Serve the leading global innovator and provider of SaaS-based Progressive Assurance solutions for the infrastructure sector, has secured a major round of syndicated loan investment to take the company to further levels of growth and success. The $US multi-million loan funding injection from new investor Finance Birmingham and existing investment partners Chord Capital, Midven Ltd and Catapult Ventures will be used to drive market growth in Europe and to capitalise on the company’s achievements in the Middle East and Asia where it has enjoyed recent significant sales success.
Comply Serve has achieved unprecedented growth in previous fiscal years continuing into 2014 and the company’s SaaS-based ComplyPro® solutions are now used to manage projects for its blue chip clients carrying an estimated total contract value in excess of US$170 billion. To support this and future predicted growth, Comply Serve will expand its headquarters in Solihull, growing its existing teams to maintain ComplyPro as the market leading solution for Progressive Assurance and sustaining the high levels of service quality the company currently delivers to its clients.
The company has established itself as the leading provider of Progressive Assurance for rail infrastructure projects in the Middle East and will shortly open offices in the United Arab Emirates to support existing clients and partners and its healthy pipeline of new business opportunities in the region.
Mark Chambers, Comply Serve chairman said: “We are delighted that Finance Birmingham have joined our strong investor portfolio with this significant loan investment. This is an exciting time for the company as we look to build on our global success and deliver an attractive and proven return on investment from our growing customer base.
We have secured flagship orders in the past 12 months for many high profile projects, including London Underground, Qatar Railways (for both the Doha Metro and Long Distance Railway projects) and the Riyadh Metro Programme in the Kingdom of Saudi Arabia. These join a list of existing clients which include Crossrail, Lloyd’s Register, Copenhagen Metro, Banedanmark (Danish Rail), Etihad Rail in Abu Dhabi and John Holland Group, Leightons and Laing O’Rourke in Australia. The support we have received from our investment partners during this growth period has been both welcome and appreciated and the team is excited about the company’s future."