MSIF Seed Fund Investment Brings Software Business to Merseyside

15th May 2007

A company specialising in enterprise software has relocated from Manchester to Merseyside with backing from Merseyside Special Investment Fund’s Liverpool Seed Fund.

Blue Prism, now based in Newton-le-Willows, produces a unique software solution called Automate that is used to integrate business processes, primarily in the retail and banking sectors. A variety of modules covering processes including opening and closing bank accounts, completing audit reports and online applications are available.

Traditionally many of these processes have been labour intensive due to staff having to access several internal systems. Automate cuts out the need for manual intervention creating a faster, more flexible and error free process.

The company already has a blue chip client base that includes Barclays, Co-operative Bank, CIS, Orange, and npower.

Blue Prism has raised a £1.5m investment package that includes support MSIF’s Seed Fund, Rising Stars Growth Fund and a syndicate of private investors organised by Endeavour Ventures.

The Mersey Partnership assisted the company’s move to the area, providing advice on location and premises.

The company was set up in 2001 by directors Alastair Bathgate and David Moss.

Managing Director, Alastair Bathgate said: “Automating manual processes with our product can be done quickly and cheaply and without a hoard of technical staff. We have also built in the security, stability and scalability required by major corporations such as banking and insurance.

“We are delighted to move to Merseyside which has an excellent support network for ICT businesses and the funding from MSIF has been crucial. We can now develop the product further and expand into new markets”

Michael Bakewell, Investment Manager of MSIF’s Seed Fund said: “Blue Prism already has an impressive customer base and is operating in a growing global market. We will continue to work closely with them and are pleased to be supporting this exciting business”

Edward French, Investment Director of Rising Stars Growth Fund said: “The company has demonstrated considerable commercial success and has an experienced management team. We think the company deserves to do very well.”

Janice Mears, Investment Manager at The Mersey Partnership, said; “The expansion of a cutting-edge software company like Blue Prism into the Liverpool City Region is further evidence of our thriving digital and creative sector. St.Helens is one of most accessible boroughs in the City Region and is a fertile location for business growth.”

The company has already grown to 12 staff and plans further recruits in the Merseyside area to build, sell and service its innovative software tool.

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For further information contact Angela White at Merseyside Special Investment Fund on 0151 236 4040

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Photo shows Michael Bakewell (MSIF) with David Moss and Alistair Bathgate (Blue Prism)

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