Dr Mark Peyton, CEO of Mercia Technologies PLC
Mercia Technologies, the investment group focused on scaling innovative tech businesses, has completed a £3.5m direct investment into Intechnica Limited, a Manchester-based business that provides scalable software solutions to manage high website traffic demand.
Mercia’s investment is part of a £5m funding round alongside existing private investors and takes the Group’s direct shareholding to 24.3%. The round includes a £1.3m convertible loan facility which is also being provided by Mercia.
This investment will enable Intechnica to scale its TrafficDefender product suite. Typically, over half of website traffic is automated non-human activity. Internet bots perform repetitive tasks at a much higher rate than is possible by humans and can overload websites with unwanted traffic. TrafficDefender manages both human and bot traffic to ensure continual positive customer interactions.
With revenue growth of over 150% during the last 3 years, the company has already developed a client base including Ted Baker, ao.com, Pets at Home and Avis. This latest funding will be used to boost its sales and marketing resources, including overseas expansion.
Jeremy Gidlow, managing director of Intechnica, said: “We are pleased to have our long-standing investors reaffirm their support for Intechnica with this latest fundraise. The capital will allow us to scale up the delivery of our cloud-based solutions to meet growing demand in sectors such as online retail, insurance, digital publishing, gaming and ticketing. It will also help us to deploy TrafficDefender quickly and effectively to domestic and international customers, allowing them to manage and analyse high volumes of online traffic.”
Mark Payton, CEO of Mercia Technologies PLC said: “Intechnica comes from one of Mercia’s managed funds which is led by Will Clark, and invests across the North of England. Working with management, Mercia’s team has helped to build out the board and broaden the expertise of the management team ahead of the business becoming a meaningful balance sheet investment for Mercia. All of us have experienced the frustration of overloaded websites and TrafficDefender is a working solution to a global challenge, as product and service retailing continues to move online.”
Our BQ Bulletin emails will land in your inbox at 7.30am, Monday to Friday, with a mix of the latest local business news, national news, and features to inspire you. Sign up here!
Click here to read our privacy statement