Sheffield-headquartered tech firm, Azzure IT, has received a £2 million investment from the Northern Powerhouse Investment Fund to continue its growth trajectory.
To date, this is the single biggest investment from the Fund, since it was launched in February last year.
Azzure IT helps organisations throughout the UK, ranging from SME’s to larger not-for-profits, to transform productivity and enhance growth by implementing the next generation of smart business applications in the form of Microsoft Dynamics solutions.
The funding will enable Azzure to strengthen its management team, recruit additional implementation consultants and expand sales and marketing operations.
Founded in 2011, by Craig and Sharon Such, Azzure IT has achieved significant growth over the years and now employs 57 people.
It was one of the first UK software vendors to achieve the ISO 9001:2015 quality accreditation and is ranked 29th in the Northern Tech 100 league.
The company has also been listed in the Deloitte Tech Fast500 EMEA over the past three years and was recently recognised in the Financial Times 1000 list of the fastest growing companies in Europe, coming in at 200th place.
Will Clark, Joint Fund Manager of NPIF – Mercia Equity Finance, said: “Founded in the last economic downturn, the company itself used technology to take on emerging market challenges and to thrive and grow.
“Its goal is to support other growing businesses to achieve digital transformation. The funding will allow the business to scale up to meet growing demand and create 12 new jobs in Yorkshire.”
Ken Cooper, Managing Director at British Business Bank, said: “Providing investment for innovative, high-growth companies such as Azzure, is what we set out to achieve when we launched the Northern Powerhouse Investment Fund last year.
“This deal, which is the largest to date, highlights the range of support provided by our fund managers and demonstrates the existence of potentially world beating companies in Sheffield. The fund will be supporting many other similar opportunities across the Northern Powerhouse region.”
Neil MacDonald of the Sheffield City Region Local Enterprise Partnership, said: “This is helping to attract, retain and develop skills in the region which are so important for the SCR’s sustainable growth.”