Games Company Serious About Training is Primed for Growth Following Investment
A developer of immersive online learning tools has secured investment of more than £50,000 to develop its next release.
Totem Learning, based in Coventry, will continue to deliver cutting edge online personal development solutions for training providers on the back of the capital investment.
Birmingham-based Midven’s Early Advantage fund has invested over £25,000, with a co-investment coming from some of the company’s existing private investors.
The business has evolved from a games company and like most successful tech companies it quickly understood that to thrive it needs to stay ahead of the competition whilst delivering solutions that users love and want to use. The investment will enable the company to work on its latest product ideas.
Richard Smith, Totem’s managing director, said: “We have a good business employing some very talented software developers, who really know how to produce online training tools that replicate real world business situations. We have just released an exciting new leadership skills training game which is generating some great reviews from both training providers and business users and now with this additional money we can continue with our next training modules”.
He added: “How and when training is provided is constantly changing, particularly with evolution of serious games technology. With the constant year on year growth of computer gaming, the business world with its tech savvy employees expects realistic and engaging training solutions and we’re here poised and ready to give them what they want.”
Gio Finocchio, investment director at Midven, said: “We’ve followed Totem Learning for some time and have seen the progress they have made; we can see the shift in how companies want to deliver inspiring training to their staff and feel the time was right to make an investment into this growth sector and in a company with plenty of potential.”