The funding will allow Concirrus to continue the build out of its suite of products for the insurance, fleet and industrial asset markets and fund expansion of the sales team to capitalise on existing channel partnerships. In addition to the investment, Concirrus has acquired the IP and certain assets of its former subsidiary Concirrus Cloud Ltd. and will now operate as a single entity.
Concirrus provides connected solutions in a range of business applications, including asset monitoring, predictive maintenance, fleet management and vehicle insurance, whilst at the same time winning awards from Gartner, Nexus, Scale-Up London and TechMarketView. Concirrus was also featured by both the Sunday Times and the Daily Telegraph for its contribution to the IOT.
“We have built this company to bring IoT capability and its underlying business value to a broad range of companies. Despite approaches from a variety of corporate and financial investors, we have not taken any outside capital to date. However, we were attracted to the Imperial Innovations’ model of working closely with management in technology-differentiated companies to build and scale for long-term success. We came to appreciate Acuity’s attention to detail and professionalism at all stages of the process and their IoT sector insight.”
ANDREW YEOMAN | CEO
Concirrus