Edinburgh-based CMS for enterprise provider Forrit has secured £5 million from the Scottish National Investment Bank. According to the cloud-based startup, the primary function of the funding is the support the creation of 15 new jobs, as well as further drive expansion efforts.
“We’ve experienced enormous growth as a company since we launched almost a decade ago, building a brilliant team who have in turn created an extremely strong product. While to date we have self-funded our growth through client engagements, as we take Forrit to the next level, now felt like the right time for us to seek external institutional funding,” said Forrit CEO Peter Proud. “This investment from the Scottish National Investment Bank will help us to expand our presence not only in Scotland but also to expand into new markets across the UK and beyond.”
Lead image: Kate Bielinski