Source: Push Technology
Push Technology, the pioneer and leader in real-time data streaming and messaging solutions, today announced it has completed a £10 million Series A round of financing.
Maven Capital Partners led the round with participation from new and existing investors Guinness Asset Management and Stephens Capital Partners.
The investment will assist the company to aggressively expand its sales and marketing efforts as well as broaden and accelerate product development. Maven’s Investment Director, Andrew Symmonds, and Guinness Asset’s Investment Manager, Ashley Abrahams, will join Push Technology’s Board of Directors.
Maven is an independent alternative asset manager, with over £660 million of assets under management and available to invest. Maven was formed in 2009 and operates from a nationwide network of regional offices. Maven is one of the UK’s most active investors in private companies in the lower-mid market, supporting entrepreneurial and innovative businesses with their funding requirements.
The Series A financing builds on an excellent opening-year quarter for Push Technology which is seeing a growing roster of clients and market momentum due to the ever-escalating use of web and mobile devices to access business systems across the globe.
“Push Technology’s offering is well-timed with the rapidly escalating demand for solutions that extend systems and applications across web and mobile networks reliably and securely,” said Andrew Symmonds, Investment Director with Maven Capital Partners. “Companies everywhere are increasingly reliant on web, mobile, and IoT systems and applications to drive business growth. Push Technology’s Real-Time API Platform is a powerful cross-industry solution and Maven are excited to collaborate with and support them as they continue to build a great company in an exciting category.”
Sean Bowen, CEO of Push Technology, added: “We are in the enviable position of serving the rapidly expanding market for real-time web, mobile and IoT communications. The added financial support and counsel of Maven Capital Partners and Guinness Asset Management will allow us to execute our vision more rapidly and broadly.”
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