Celaton Raises £2.5M in Funding from Business Growth Fund
The company intends to use the capital to accelerate the development of a sales and marketing infrastructure to drive growth both in the public and private sectors.
Following the investment, Tim Bittleston, who was introduced Celaton through BGF’s Talent Network, will join the board as Chairman while Rob Wirszycz, Chairman of the company for three years, will continue to serve on the board as non-executive director.
Tim Whittard, Investment Director, will also join the board as BGF’s representative.
Founded in 2004 by Andrew Anderson and Gary Grant, Celaton was created through the MBO of Redrock Technologies from Netstore plc and the subsequent acquisition of DG Tech Ltd. The company provides cloud inSTREAM™, which aims to automate the handling of all the inbound information streams that flow into and through organizations every day such as customer correspondence, financial documents, employee records, legal matter and insurance claims that are received by post, paper, email, fax, mobile or other electronic data streams.
Celaton currently employs over 60 staff across three locations in the United Kingdom including its head office in Milton Keynes and two document process outsourcing centres in Southampton and Wigan.
In the financial year June 2012 the company delivered revenues of £2.2m.
Customers include Asos.com, The Carphone Warehouse, TalkTalk and other organizations from retail, travel, insurance and professional services sectors.