Condeco eyes global expansion

Condeco eyes global expansion

Global software company Condeco has raised over £20m to help accelerate the London-based company’s expansion across the US, Europe and Asia.

Condeco develops and delivers workplace solutions that aim to improve the way people work and how organisations operate across the globe.

The funding drive led by Highland Europe coincides with the start of London Technology Week, which showcases the best of London’s tech innovation.

Condeco, winner of a Queen’s Award for Enterprise in the innovation category earlier this year, is one of the world’s leading providers of workplace management technology.

Paul Statham, founder and CEO, said: “This investment comes at the perfect time for Condeco, as it will fuel our growth as we pursue further strategic acquisitions across North America, Europe and APAC.  We will also invest in our solutions for the vitally important SME market.

“Rapidly increasing demand for workplace utilisation tools has enabled us to widen our global capability, meaning that we are now reaching 12 geographies worldwide.

“We’ve also been able to scale our operations – for instance, through our recent acquisition of US firm myVRM – so that we have the ability to radically transform the way people work.

“We are very excited to be joining with Highland Europe to start this new chapter in Condeco’s story.”

Laurence Garrett, partner at Highland Europe, added: “In Condeco, we are teaming up with an established, proven business, whose success is matched by their hunger and vision for innovation and further market development.

“Paul is that rarest of breeds – a seasoned operator, fired up with entrepreneurial passion, who’s on track to create a new gold standard in office and workplace technology.

“It’s surely fitting that this investment coincides with London Technology Week, which celebrates London as a powerhouse of innovation, because we are certain that Condeco will remain a striking example of the capital’s technology prowess for many years to come.”

The investment follows a strong year for Condeco, which has seen revenue rise 50% and its number of new clients rise by 30%.

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