Investment deal for Cheshire event tech company
A supplier of event technology and content management software has secured multimillion pound funding. Altrincham-based TEP Events International today announced that it has secured new funding from the Harbert European Growth Capital (HEGC) operated by Harbert Management Corporation (HMC).
HMC is an alternative asset management firm with $4.1B in assets under management as of September 1, 2014, and TEP is using the funding to accelerate worldwide expansion of its solutions.
Although the company declined to reveal the details of the investment, it said the deal would play a key role in fuelling an accelerated growth strategy for TEP, who have offices in Manchester, London, Dubai, New York and Salt Lake City.
TEP’s product Duuzra is a Content Management System software which offers clients interaction and engagement at conferences and small meetings. TEP’s recent SaaS offering, Duuzra, was launched in July 2014, and is targeted at the rapidly expanding mobile presentation and sales engagement markets.
CEO Paul Beck described the deal as key component of Duuzra’s plans to move forward: “HEGC understand the business we are in and are excited about the growth potential of our SAAS model, Duuzra - a powerful mobile sales engagement tool targeted at sales and marketing professionals worldwide.
"HEGC’s investment will help us accelerate Duuzra’s product development and marketing as we continue to develop and grow both our E-Commerce and enterprise software business. We’re thrilled to secure the deal and are excited to move forwards.”