SHE Software completes £7m investment round led by Frog Capital
SHE Software has secured a £7 million Series B investment led by new investor Frog Capital.
The funding will be provided by Frog Capital’s new growth equity fund, with existing investors Northern Venture Capital Trust (VCTs) Funds at Mercia Fund Management Limited also contributing funds.
The investment further validates SHE Software’s strong market position and will accelerate the growth of international operations, building on the momentum achieved over the last two years in North America.
The company plans to increase headcount, expanding its talent pool by 60, including 15 new jobs announced earlier this year following funding from Scottish Enterprise.
Matthew Elson, CEO, SHE Software, said: “We chose the Frog team because of its focus and expertise in scaling software companies like ours internationally. Frog’s Scale-Up Methodology and Operating Partner team stood apart from our other options, and we very much look forward to writing the next chapter together.”
Mike Reid, senior partner at Frog Capital, added: “SHE Software’s deep understanding of environmental, health and safety challenges, and how modern software engagement can transform attitudes and address key EHS issues has impressed the Frog team a great deal.”
Charlie Winward, managing director, Northern Venture Capital Trust (VCTs) Funds at Mercia, said: “We are pleased to continue our support of SHE Software and welcome Frog Capital in this new funding round. SHE Software has made considerable progress in the health and safety sector, and this syndicated round positions it well to continue its growth over the next few years and further build out its presence in the US market.”