24Haymarket invest in Smartgate Solutions
Smartgate Solutions today announced that it has closed a £1.6m round led byprivate capital investment group 24Haymarket and supported by NorthernPowerhouse Investment Fund (NPIF) Mercia Equity Finance, which ismanaged by Mercia Fund Managers.
Smartgate Solutions Limited is a UK-based solutions provider working withinregulated industries in the UK and internationally. Smartgate has developedits cloud-based Radar Healthcare Quality & Compliance System to helpregulated industries manage and meet both their operational and regulatoryrequirements, offering a truly smart and effective tool to underpin operations
and processes and affording the necessary visibility against performance andcompliance. Smartgate’s initial market is within the health and social caresector in the UK. Radar is fast gaining the reputation as the go-to platform forquality and compliance.
The business has shown strong organic growth withincreasing demands from its core market, international clients and otherreceptive industries. Compliance and quality assurance are mandatedrequirements for many organisations and the impact of poor performance canbe severe. Radar is at the forefront of offering an innovative and effectivesolution to meet these critical business needs.The business intends to build upon its success with this investment,expanding both its sales and delivery teams to meet demand within this highlyreceptive market.
Commenting on the investment, Paul Johnson, Chief Executive Officer atSmartgate Solutions, said: “We are very pleased to have the backing of24Haymarket and Mercia Fund Managers in these exciting times forSmartgate. The investment and associated support along with the existingmanagement team will ensure further success and growth.”
Stuart Fletcher ex-CEO of Bupa and member of 24Haymarket said: “We aredelighted to be investing growth capital behind a high quality and experiencedmanagement team. Radar Healthcare Quality & Compliance System is a firstrateproven product which integrates people, processes and technology tosignificantly improve the consistency, robustness and transparency of quality
& compliance in all health and social care environments.”
Graham Davies, Investment Director at Mercia Fund Managers, said:”Smartgate Solutions has developed an innovative system that is tailored forthe health and social care sector and we are pleased to support the business asit continues to scale. Smartgate is a good example of the strong businessgrowth coming from the Leeds region, and this funding will allow it to expand
and build upon the talent within its team.”
