Thursday, May 13, 2021

Lincoln company behind events platform secures £400k

A Lincoln company whose events software platform is used by organisers of international sports competitions has raised £400,000 to support its further growth.

Iventis has secured investment from the MEIF Proof of Concept & Early Stage Fund, which is managed by Mercia and part of the Midlands Engine Investment Fund (MEIF), and the government’s Future Fund. The company, which has been bucking the industry trend, is planning to use the funding to create seven new jobs.

The company, which was founded by Joe Cusdin who had worked on the London 2012 Summer Olympics, says the pandemic has increased demand for its software. Although major events and festivals have been postponed, reorganising them while taking into account social distancing and events teams working from home has highlighted the need for online tools and more detailed planning.

The latest funding round follows a £250,000 investment by MEIF last year.

Iventis Non-Executive Chairman, Keith Greetham, said: “I’m delighted to see Iventis make huge leaps forward in its growth. The company is recruiting talent from within the events industry, which has suffered immensely during the pandemic. We already have high-profile early adopters of the Iventis software, many of which are relying on its capabilities to reschedule and redesign their events.”

Sandy Reid, Investment Director at Mercia, added: “Iventis is well positioned to help the events industry reorganise events and recover from the impact of the pandemic. The business continues to build relationships with top-level global event organisers and this investment will allow it to expand its team further as client numbers increase.”

Lewis Stringer, Senior Manager at the British Business Bank said: “The Midlands Engine Investment Fund is committed to ensuring Midlands’ businesses have access to the finance they need to grow. This latest investment will enable Iventis to develop its innovative software platform, whilst creating new job opportunities in the region.”

Pat Doody, Chair of the Greater Lincolnshire Local Enterprise Partnership, said: “Iventis is a great example of an innovative Lincolnshire tech business and we’re very pleased to see its growth supported by this funding.

“The events and festivals sector has been hit hard by the pandemic and we applaud Iventis for adapting and innovating in order to support event organisers in the UK and around the world.

“It’s fantastic to see more and more businesses thriving in the emerging digital cluster we have here, and good to see that they’re being nurtured in a really supportive business environment.”

Pictures shows Iventis founder Joe Cusdin.

A message from the Editor:

Thank you for reading this story on our news site - please take a moment to read this important message:

As you know, our aim is to bring you, the reader, an editorially led news site and magazine but journalism costs money and we rely on advertising, print and digital revenues to help to support them.

With the Covid-19 pandemic having a major impact on our industry as a whole, the advertising revenues we normally receive, which helps us cover the cost of our journalists and this website, have been drastically affected.

As such we need your help. If you can support our news sites/magazines with either a small donation of even £1, or a subscription to our magazine, which costs just £27.55 per year, (inc p&P and mailed direct to your door) your generosity will help us weather the storm and continue in our quest to deliver quality journalism.

As a subscriber, you will have unlimited access to our web site and magazine. You'll also be offered VIP invitations to our events, preferential rates to all our awards and get access to exclusive newsletters and content.

Just click here to subscribe and in the meantime may I wish you the very best.

Advertisment








Latest posts

Plans in for £15m food storage facility in Lincolnshire

Plans have been submitted for a £15m development which will create up to 50 new jobs at a business park on the south bank...

The modern changes to the financial world explained

The financial world as we know it has undergone digital changes to its systems over the last twenty years. Indeed, it is almost unrecognizable...

New Urgent Treatment Centre opens in Lincoln

As part of the transformation of emergency care at Lincoln County Hospital, patients needing urgent care are now being treated in a new £3.5...

Lincoln Science Park secures £10m to accelerate second phase of development

A £10m funding package has been secured to begin developing the next stage of Lincoln Science & Innovation Park. This follows its success in...

Lincoln Pride cancelled for second year running

Sadly, Lincoln Pride has been cancelled for a second year running because of COVID-19. The event, which offers a safe space for the county’s vibrant...

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close