The deal, led by Hambro Perks who provided $3.8 million in the round, will continue to fuel Administrate’s rapid growth and further develop its platform to solve the unique challenges of mature enterprise training teams.
BOZEMAN, Mont., July 11, 2023 /PRNewswire/ — Administrate, the leading enterprise training operations platform, announced today that it had raised $6.4 million from existing investors Archangels, Mercia, and the Scottish Investment Bank, and that it had welcomed Hambro Perks as a new capital partner. Funds will be deployed to support the company’s rapid growth and continue to meet the needs of its diverse and growing North American enterprise customer base.
The company, which was recently recognized as one of the fastest-growing tech companies in the UK by global tech and advisory firm GP Bullhound, provides a scheduling and logistics platform used by some of the biggest brands in the world to manage their complex global training operations. Customers typically experience an 80% reduction in manual activities after implementing the platform, and its new AI-powered scheduler has experienced accelerated customer demand in the last six months. Administrate is headquartered in Edinburgh, Scotland, with a USA office in Bozeman, Montana.
The deal was led by Hambro Perks who specialize in supporting high-growth scale-up companies that focus on B2B SaaS.
“Backing Administrate was an easy decision,” said Usman Ali, Partner at Hambro Perks Growth Debt Fund. “Administrate is an innovative and rapidly expanding business that has continued to deliver double-digit growth within its enterprise customers segment in the last couple of years. Their platform is well suited to the needs of large corporations that operate in multiple geographies. We strongly believe that the business has tremendous growth potential and we look forward to seeing the business expand in the coming years.”
Niki McKenzie, Joint Managing Director at Archangels said, “With an impressive roster of customers on their books, this new funding package will allow the team to accelerate growth, particularly stateside, where they have seen significant growth among large multinational corporations. We’re looking forward to working closely with the team on this next exciting chapter of their story.”
“Our team has done an incredible job delivering for our customers,” said John Peebles, CEO of Administrate. “Our capital partners understand the unique opportunity ahead of us, and we’re excited to continue building on our success in a sustainable way. I’m proud of some of the key innovations we’re launching within our platform this year which include our AI-powered scheduler and significant improvements to our headless architecture strategy. These tools within our platform can transform training operations and drive significant ROI for our customers in unprecedented ways.”
Administrate is the premier learning technology platform designed to scale and manage the complexities of enterprise training. Organizations such as Royal Caribbean Group, Siemens Healthineers, and Maersk use the platform to automate manual processes, manage complex training schedules and logistics, and access business intelligence from previously untapped and siloed data. The company was founded in 2012 in Edinburgh, Scotland, and has offices in Bozeman, Montana. Administrate was recognized as a 2022 “Great Place to Work” in both the U.S. and U.K.
Founded in 1992, Archangels is a leading business angel syndicate investing in early-stage Scottish life sciences and technology companies. Archangels comprise around 120 members and an eleven-strong board and executive team. There are currently 21 companies within the portfolio.
For further information on Archangels visit www.archangelsonline.com
About Hambro Perks:
Hambro Perks is a London-headquartered international investment firm focused on private investing. It partners with founders and entrepreneurs to support growth businesses at all stages of the investment cycle.
Hambro Perks has specialized and dedicated investment teams, working across a number of funds. In addition to their flagship Venture, EIS, co-investment and Growth Debt funds, Hambro Perks offers a number of specialist differentiated investment strategies, including Hambro Perks Environmental Technology, Special Situations, and Access, which invests in venture secondaries.