Xergy raises £ 4.25 million to scale up operating systems driving digitalization in the energy sector

Xergy Group Limited (Xergy) recently announced the end of its £ 4.25 million Series A + funding to scale up significantly. Proteus, Software as a Service (SaaS) work automation management product.

Xergy uses Proteus to define a new category of software suitable for the transition to a slimmer business model and provide clients with end-to-end solutions for talent acquisition and project management. Proteus accelerates client digital transformation and integrates existing systems into a central hub for significant efficiency and operational cost savings.

This Series A + funding was carried out with a £ 15m pre-valuation, up 75% from the previous round 2019. This increase has resulted in additional investment from the majority of existing investors. This includes up to £ 425,000 in R & D grants and an additional £ 1 million in investment from a Scottish company that previously supported the company with an investment in the Early Growth Challenge Fund. Other investors include early Proteus clients who have come to strongly support the benefits to their business.

This new capital is at an exciting time for the company, which launched Proteus in 2020. With the continued rise in the gig economy and the growing demand for systems required for remote and hybrid work after COVID, Proteus is growing rapidly and many clients. We help businesses deliver energy and infrastructure projects on time and on budget in an ever-changing environment.

Kerry Sharp, Director of Growth Investments at Scottish Enterprise, said:

“Xergy’s growth highlights entrepreneurial talent and innovation in early Scottish business. Scottish Enterprise provides solutions for energy sector recruitment and project management for overall migration and digitization. We are pleased to be able to provide additional support to this technology company that supports it. This technology is being used around the world and is creating employment opportunities for energy professionals across Scotland. With this new investment round, companies are able to provide employment opportunities. It will continue to help you reach new markets and the industry as a whole and keep your organization competitive. “

James McCallum, Founder and Chairman of Xergy, said: “Today, we are pleased to announce that the funding has been successfully completed. The past few years of Xergy development have been incredibly enlightening, and this investment is a great result of the team’s efforts, and in the future. We look forward to your continued support and thank all new investors for their trust in Xergy. As we move forward, energy transformation and digital transformation We are focused on developing products that meet the company’s essential needs to embrace both. The Scottish Development Corporation helps companies make this transition by increasing agility and business efficiency through digitalization. I’m glad to support you. “

Xergy, the company behind ProteusWas founded in 2018 by renowned industry experts and former business rivals Colin Manson and James McCallum. Proteus is the first product of its kind to offer an end-to-end operating system (OS) integrated with a bespoke talent market for the energy market.

Proteus is revolutionizing the sector, transforming business models, reducing costs and increasing overall efficiency to increase profits. This is the next evolution in how organizations can access talent to deliver projects and prepare for tomorrow’s economy today.

With a focus on an easy-to-use cloud-based work management system, Proteus enables you to collaborate with your teammates, work from anywhere, optimize your data, simplify workflows on the most complex engineering projects, and at the same time be genuinely free. Prosper the Reims culture through its talents. market.

Proteus has been recognized by Scottish Enterprise as an innovative technology startup in its 2021 business plan, and with the large amount of money it has secured, Proteus will continue its growth journey while driving the digital transformation of its customers. You can continue.

Xergy raises £ 4.25 million to scale up operating systems driving digitalization in the energy sector

Source link Xergy raises £ 4.25 million to scale up operating systems driving digitalization in the energy sector

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