Forrit, a specialist in native cloud platforms, has secured scale-up support from the Scottish National Investment Bank, which will enable the technology developer to expand its operations. With funding of £5 million, Forrit plans to target new markets and grow its workforce.
Forrit, founded in 2014, specializes in creating cloud-based Content Management System (CMS) software. Their advanced technology is utilized by top companies worldwide to improve customer satisfaction, ensure top-notch online security, and facilitate better management of cloud-based web estates for enterprise clients.
Forrit’s expansion will receive support from the Bank, resulting in the creation of 15 skilled jobs. Additionally, the company will strengthen its partnership with Microsoft, being recognized as a ‘Preferred Solution’ and trusted Microsoft Partner.
According to Peter Proud, the CEO of Forrit,
“We’ve experienced enormous growth as a company since we launched almost a decade ago – building a brilliant team who have in turn created an extremely strong product. While to date we have self-funded our growth through client engagements, as we take Forrit to the next level, now felt like the right time for us to seek external institutional funding. This investment from the Scottish National Investment Bank will help us to expand our presence not only in Scotland but also to expand into new markets across the UK and beyond.
“We are incredibly proud of our Scottish roots, so working with another Scottish organization was extremely important as both parties are focused on benefitting Scotland. We have ambitious plans and only want to add to the success of the Scottish tech ecosystem. We hope to continue to add to this both as a provider of an exemplary content management system, but also as an employer. Thanks to the Bank’s investment, we look forward to growing that even further as we scale up both the company and our product.”
The Scottish National Investment Bank was established with the aim of providing long-term funding to businesses, projects, and communities that share its objectives. So far, it has provided £97.9 million in funding to promote innovation and assist industries that have potential for growth in the future. The recent investment in Forrit will contribute to the development of Scotland’s technology sector and strengthen its reputation for excellence on a global scale.
According to Jimmy Williamson, who holds the position of executive director of innovation at the Scottish National Investment Bank;
“Our investment will enable Forrit to create new, high value technology development jobs, future proofing skills in Scotland’s tech ecosystem and supporting plans to export their differentiated proposition to enterprise clients globally.
“Forrit’s CMS system technology has a strong alignment with our Innovation mission and we look forward to working with them to deliver their ambitious growth plans.”
