£750k investment from FW Capital and the appointment of two new Directors underpins significant growth plans
Gateshead-based Orchid Software has secured £750,000 funding to accelerate the rollout of its innovative cloud-based intranet service, Oak.
Two highly experienced directors have also joined the business as it enters a rapid growth phase into UK and global markets.
Neville Bearpark has recently been appointed as part time Finance Director. Neville is a founding partner of UNW LLP, now one of the leading independent firms of Chartered Accountants in the North East. Neville will combine his role as a Corporate Finance partner at UNW with providing the financial expertise needed to guide Orchid Software through this period of intense growth.
David Pinches joins Orchid Software as Marketing Director, bringing a wealth of experience from notable North East technology companies such as Sage plc and Scott Logic.
“The potential for Oak is enormous. In a few short months since an initial launch, Oak already has tens of thousands of users from organisations large and small, including Moss Bros, Halfords and Hays Travel. I’m thrilled to be joining a dynamic business with huge global ambition.”
The new investment, which follows on from initial funding in 2014 from Northstar Ventures, will underpin marketing and sales activities. It will also enable further product development as Oak continues to disrupt the traditional market of intranet technology.
The funding from FW Capital’s North East team was led by Investment Executive, Keith Charlton. Orchid Software was advised by UNW LLP and Watson Burton LLP.
Orchid Software already has 18 years of experience building fully integrated intranet solutions to support internal communications, employee engagement, CRM, human resources, document management and much more. Their solutions are trusted by household brands such as ITV, Virgin Money, Nissan, NHS and Comic Relief.
Managing Director, Sukh Ryatt has a clear vision that organisations of any size and sector, should have access to enterprise grade intranet solutions, traditionally only affordable for large organisations.
“Our vision with Oak was to create a beautiful and engaging all-in-one enterprise grade intranet solution that could be set up and deployed in a matter of days. This is without the need for any external consultancy or development work. Importantly, it had to be affordable to any size of business.
“I’m proud to say we’ve succeeded. Oak is getting rave reviews from users and we have clients ranging from a small ladies’ football club to massive retailers such as Moss Bros and Halfords. This wouldn’t have been possible without the amazing team at Orchid Software that has worked so hard to make our vision a reality. I’m excited that we’re now ready to share this with the world!”