Type: Growth Capital

Total Originally Invested: £0.5M

Initial Investment: December 2014

Sector: TMT

Website: Click Here

Company Background

Dubbed the 'Wordpress' for mobile apps, AppInstitute is set to be at the forefront of the mobile app platform industry. Their cloud-based service aims to revolutionise the app market by providing a SaaS (Software as a Service) platform that allows SMEs and individuals with little to no prior technical knowledge to create their own app.

With its central operations based out of Nottingham's Creative Quarter, AppInstitute was founded in 2011 and has partners and end-client businesses in more than 10 countries over 4 continents, with an initial focus on the UK market. The company currently has 16 staff in Nottingham with expectations to reach 50 over the next few years.

Foresight Investment

Foresight has invested £500,000 of growth capital to support CEO Ian Naylor and CTO/COO Justin Ashurst as well as a new Chairman, Paul Brennan, who has extensive software and cloud experience. The investment provides the Company with development capital to drive further growth and job creation in the years ahead.

Future Strategy

The business has grown steadily in recent years and with new investment from Foresight to unlock additional capacity by increasing marketing spend and new reseller opportunities, the company's growth trajectory is forecast to accelerate.

"We believe every SME should be able to harness the benefits a mobile app will bring to their business in order to compete against their larger counterparts. The fact that Nottingham has this dedicated regional fund with a mandate to support businesses like ours in the area, is a testament to the vision and commitment Foresight has shown to the region."

Ian Naylor, AppInstitute