Mobile app and digital product developer Waracle has received a 拢4.8m investment from BGF.
Waracle designs, develops and manages mobile apps and other digital products, working with some of the UK鈥檚 largest businesses across sectors including FinTech, digital health and energy.
Its solutions include mobile, IoT and extended reality.
Founded in Dundee in 2007, the business has since scaled across Scotland with 140 people in offices in Dundee, Edinburgh and Glasgow, and has recently strengthened its London office with several key hires to further support businesses based in the capital.
BGF鈥檚 investment will be used to support Waracle鈥檚 organic expansion and growth plans as it looks to widen its geographic reach, while maintaining its position at the cutting edge of digital product development.
Duncan McIntyre, chair of BGF-backed Helecloud, has been appointed non-executive chair following an introduction from BGF鈥檚 Talent Network, the UK鈥檚 largest pool of non-executive directors.
Chris Martin, CEO of Waracle, said: 鈥淲e鈥檝e built a fantastic business over the last 12 years, investing in great talent and building long-term partnerships with some of the UK鈥檚 most recognisable brands.
“We鈥檝e now identified the right partner in BGF, with a great team that understands and supports our growth strategy. BGF鈥檚 expertise, coupled with Duncan鈥檚 knowledge and experience, will be invaluable as we enter this next stage of our growth.鈥�
Richard Pugh, an investor at BGF, said: 鈥淲e鈥檙e delighted to welcome Waracle to the BGF portfolio, a business which has cultivated a fantastic reputation with a rapidly-growing blue-chip client base and is supported by a great team that we鈥檙e looking forward to working with.
鈥淲e鈥檙e also proud to make our first investment here in Dundee, an important part of the country for BGF and a hub of innovation and talent across a number of sectors that we鈥檙e keen to work with in the future.鈥�