Edinburgh-based learning and training management platform Administrate has raised £3 million in funding to support the launch of its new AI scheduling software and enhance its market reach.
The equity finance was provided by the Investment Fund for Scotland (IFS), managed by Maven and delivered by the British Business Bank.
Administrate is a cloud-based training management platform that helps its clients streamline their entire training operations.
“The transaction coincides with the launch of the company’s new AI powered scheduler that allows enterprise customers to plan, schedule, and optimise complex classroom training activities at scale,” said Maven.
“This allows for a greater level of automation in the training process ensuring a reduction in client time and cost.
“The funding will enable the business to expand its market reach through the deployment of this new technology to its diverse group of international customers which includes Siemens, Royal Caribbean and Maersk.”
This transaction marks the fifth investment made by IFS Maven Equity Finance.
The fund has also backed 3D printed micro-tumour specialist Carcinotech, medtech company Calcivis, Glasgow University spinout Nami Surgical and premium Indian readymeal provider Praveen Kumar.
Rob Stevenson, Investment Manager at Maven, said: “Administrates’ platform automates the challenges faced by large scale organisations and allows clients to deliver a leaner and more cost effective training solution.
“We’re delighted to support John and the team at an exciting stage in the company’s journey and look forward to working with them to drive the business forward.”
Administrate CEO John Peebles said: “It’s an exciting time for Administrate and our customers – we’ve been thrilled with the positive impact we’re seeing with the scheduler and other platform improvements, and this investment will allow us to continue to invest in and scale our offering.”
Mark Sterritt, Director, Nations and Regions Funds, at the British Business Bank, said: “The software developed by Administrate is already being used successfully by several multi-national organisations and this funding boost will enable the business to take that one step further with inbuilt AI.
“Technology is one of Scotland’s fastest growing sectors, but ensuring entrepreneurs have access to funding opportunities through the likes of the Investment Fund for Scotland is essential to ensure that momentum continues.”