Biosite

A provider of workforce management and security services

biositesystems.com

Mobeus provided £4m of growth capital to Biosite, a supplier of biometric access control and software-based workforce management systems.

THE BUSINESS

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 DEAL

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 PLAN

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.

THE PEOPLE

Jonny Burr originated the deal. Amit Hindocha of Mobeus completed the deal and has joined the Board.

Information

Amit Hindocha
Sector:
Technology
Type:
Growth Capital
Status:
Current
Date:
November 2016
Value:
£4.0 million
Leader:
Amit Hindocha