Cable-Sense, a Lancaster, UK-based network cabling infrastructure company, has raised £800k in equity funding.
The company intends to use the capital to hire additional people in sales, marketing and product development.
Founded in 2004 by John Kelly and Tony Peyton, and led by CEO Geoff Butcher, Cable-Sense has developed an innovative intelligent infrastructure management system that allows organizations to improve the management of their cable networks reducing energy, capital expenditure and operations costs whilst improving utilization of assets.
The company, which aims to expand overseas and triple its turnover by 2014, has been working closely with the School of Electronic and Electrical Engineering at the University of Manchester to bring its products to market over the past few years.
In conjunction with the funding, Michael Bakewell, investment manager at CT Investment Partners will join Cable-Sense’s board with immediate effect.