SamsonVT secures $5.1 million in seed round funding to enable rapid growth

Investors in this round: Par Equity, Blumberg Capital

SamsonVT secures $ 5.1 million in seed round funding to enable rapid growth

The investment, led by Par Equity with Blumberg Capital, will fund product development and expansion into new markets

Manchester, UK – January 27, 2022 – Technology start-up based in Manchester, Samson VT, announced today that it has received $ 5.1 million in initial funding with investments led by Par Equity, with the participation of the headquarters in the United States Capital Blumberg.

SamsonVT has developed Industry 4.0 solutions that are transforming product maintenance and after-sales service, a $ 400 billion market. SamsonCORE, for example, it is changing the way maintenance technicians work by replacing paper technical manuals and parts catalogs with 3D models. Hosted on an interactive digital platform, SamsonCORE can also connect engineers with the broader supply chain to improve order fulfillment rates.

The company was co-founded by Sam Burgess and Ed Brunyee in 2017 after seeing an opportunity for emerging technologies, including immersive 3D modeling and machine learning, to solve the challenges OEMs face when managing the equipment life cycle on a global scale.

Sam, a former team leader of the Royal Engineers, and Ed, a corporate finance advisor, both had experience in consulting and supporting multinational organizations and realized there was the potential to deliver critical solutions to the multibillion dollar aftermarket. – a market traditionally poorly served by the technology sector.

The company has since undergone rapid growth with a rapidly expanding customer base that includes global companies Lotus, RS Components and Norton Motorcycles.

The funding will be used to support SamsonVT’s aggressive global growth strategy, which includes plans to develop new and existing products, improve customer service and increase production as the company expands into new territories.

Sand Hill East consultants are supporting SamsonVT in its next phase of growth in sales, marketing and business development, as well as strategically preparing for US entry.

Sam Burgess, CEO and co-founder of SamsonVT, said:

” Having the support of Par Equity, Blumberg Capital and Sand Hill East is a strong endorsement from SamsonVT which demonstrates confidence in the company’s potential – we are thrilled to have their support. There is a great desire for smart technologies that help OEMs improve customer service while also enabling them to operate more efficiently and more sustainably. We can help them achieve these goals, and this funding will allow us to deliver our solutions to more organizations much sooner. ”

Aidan MacMillan, Senior Investment Manager, Par Equity said:

“SamsonVT has the potential to become the reference platform for the after-sales market, a large sector, fragmented and characterized by a lack of innovation. The Covid-19 pandemic has accelerated the move to digital and Sam, Ed and the team have a product in an ideal position, geared towards Industry 4.0. We are thrilled to support their journey for years to come ”.

“We are thrilled to partner with Sam, Ed and the entire SamsonVT team, including Par Equity and Sand Hill East,” said Stanton Green, Blumberg Capital. “Aftermarket is a $ 400 billion global market that is experiencing a digital evolution and SamsonVT will be at the forefront, helping a growing market make the transition. We look forward to the journey that awaits us and that we help SamsonVT make an impact on Industry 4.0, in the United States and around the world. “

“We were drawn to SamsonVT’s ability to disrupt and digitize after-sales service and order fulfillment and wanted to participate and work with them to develop the business and bring their unique capabilities to the American market.” said Andy Brown, CEO, Sand Hill East.

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About SamsonVT

Samson VT was born out of frustration with the status quo, in which after-sales management of the product is treated as an afterthought. SamsonCORE helps companies empower engineers in the field by replacing technical manuals and parts catalogs with easy-to-follow 3D models on an always up-to-date digital platform. This ensures that maintenance can be performed as efficiently as possible, saving companies costly delays. Simple to update in numerous languages, SamsonCORE also allows for better on-the-job training and skills refinement.

About Par Equity

Par Equity is a leading Edinburgh-based venture capital firm investing in the north of the UK in innovative B2B technology companies with high growth potential. Since it was founded in 2008, Par Equity has invested more than £ 100m in 66 companies, leveraging an additional £ 210m of capital from third party investors.

About Blumberg Capital

Capital Blumberg is an early stage venture capital firm that collaborates with visionary entrepreneurs to create successful technology companies that empower individuals, businesses and society through the innovative use of AI, big data and other transformative technologies. We are passionate about promoting B2B technology companies from the Seed stage through their growth path, as active board members and hands-on consultants. We were among the first investors in industry leaders including Addepar, Braze, Credorax, DoubleVerify, Fundbox, HootSuite, Katapult, Nutanix, Trulioo and Yotpo. You can find us in San Francisco, Tel Aviv, Miami and New York or on blumbergcapital.com.