A provider of workforce management and security services
Mobeus provided £4m of growth capital to Biosite, a supplier of biometric access control and software-based workforce management systems.
Midlands-based Biosite has developed a unique fingerprint algorithm which works with low grade fingerprints (a feature of the construction industry) to provide access control for workers coming on site. Around this, Biosite has developed a software system that allows customers to utilise the data collected from the access control platform to manage their workforce as well as providing broader security services including integrated CCTV, fire alarms and guarding.
The company had previously only raised capital from friends and family. Mobeus identified Biosite through its direct origination programme and has provided a £4m debt and equity package to accelerate growth.
The funding will be used to expand the Biosite team to facilitate the development of new site-management tools which will enable managers to oversee all aspects of a project under their control, with a view to becoming the site management tool of choice for the construction industry.
Jonny Burr originated the deal. Amit Hindocha of Mobeus completed the deal and has joined the Board.
- Growth Capital
- November 2016
- £4.0 million
- Amit Hindocha