The North West Fund for Digital & Creative, managed by AXM Venture Capital Limited, has made an equity investment into Connect Technology Group Limited.
Connect is an established systems developer with a large customer base in the nursery and wider childcare market, including local authorities and not-for-profit operators, and with an increasing focus on the largest private sector chains.
The Company is led by founder Chris Reid, and currently employs 13 staff at its Burnley head office. Chris is supported by a strong management team and his chairman, serial IT entrepreneur Ashvin Pathak.
The investment from North West Fund for Digital & Creative, which is part of the £170m North West Fund financed by the European Regional Development Fund and the European Investment Bank, will underpin Connect’s significant growth and support the management team to develop innovative and game changing systems for the UK Childcare sector.
Chris Reid commented: “We are passionate about delivering great systems that allow childcare staff to spend more time nurturing the children in their care. I am delighted that AXM share in this passion and are now part of the Connect team to bring forward our plans.”
David Smith, investment director at AXM Venture Capital, added: “We are delighted to support Connect’s expansion, and have strong expectations that the Company will in the short term become the leading vendor in its market.”