Manchester's Capsule secures multi-million investment
Manchester customer relationship management firm Capsule has secured a multi-million pound investment from Newlands Capital with the support of Hermes GPE.
Capsule, which has 10,000 customers across 170 countries, said the funding would allow it to continue investment in its products and features.
The firm was launched in 2009 with the aim of providing easy-to-use online CRM and has integrations with other productivity tools including G Suite, Mailchimp and Xero.
CEO and co-founder Duncan Stockdill said: “We are delighted to have Newlands Capital on board to help us continue our product led growth, putting the customer experience first in everything we do.
"The bespoke investment offered by Newlands and their 20 year plus technology investment experience is what we need at this point in the development of Capsule.”
Charlie Johnstone and Fiona McMahon, co-founders of Newlands Capital, added: “It is exciting to be backing the team at Capsule in our first deal as Newlands Capital.
"Having founded the business just over a year ago we reviewed over 100 other investment opportunities, searching for a business with a high quality team, high recurring revenue and large growth market opportunity. Capsule ticks all the boxes for us as an investor.
"The ease of use, functionality offered, quality of native integrations with the likes of Gsuite, Mailchimp, Xero and QuickBooks (with Microsoft 365 to come in 2021) for the price paid means that Capsule has a very attractive, differentiated offering in a market growing at 10-20% per annum.
“Capsule has demonstrated the value it adds to its customers and the quality of its customer base throughout the recent Covid crisis.”