Closing a £4.25 million Series A+ fundraise, Xergy Group Limited (Xergy) endeavors to significantly scale-up Proteus, its software-as-a-service (SaaS) work automation management offering. Proteus has been recognised by Scottish Enterprise as a transformative tech startup within their 2021 business plan, and the significant funding secured will allow Proteus to continue to to drive digital transformation for its customers as it continues on its growth journey.
Xergy is trying to use the novel software to provide clients with an end-to-end solution for talent acquisition and project management, which is leaner business model. The benefits of Proteus, in this regard, will be that it accelerates clients’ digital transformations, bringing together existing systems in a central hub, delivering substantial efficiency and operational cost savings.
Another reason why the Proteus becomes so critical for the company is that people’s needs for remote and hybrid work mode in the pandemic has surged. With the recent funds, the company could continue to support businesses to deliver energy and infrastructure projects.
Prior to this series A+ fundraise which is estimated to have a pre-money valuation of £15 million and a 75% uplift on the previous 2019 round, Scottish Enterprise, a member of EURADA has supported the company with a Research and Development Grant of up to £425,000 and Early-Stage Growth Challenge Fund investment. It is worth noting that Scottish Enterprise is continuing to invest on this booming technology and has decided a follow-on additional investment of l £1 million. We sincerely look forward to the success of the investment!
