A Bristol software firm has secured a £3m investment to develop its training management platform.
Bud Systems, based on Berkeley Square off Park Street, supplies apprenticeship and other training organisations with tech that it says is designed to improve “the visibility of progress and performance”.
The company was co-founded by Heather Frankham, who previously established the UK’s largest apprenticeship provider, Lifetime Training.
Bud said it had received the funding boost from private equity firm Maven Capital Partners after a period of “rapid growth”, and it would also put the money towards the expansion of its sales and marketing resources.
Chief executive John Ingram said: “These funds will be used to grow the business at scale with significant product enhancements.
“This will ensure we continue to be the leading end to end apprenticeship training platform while extending into other training provision for our existing and new clients.”
Maven said Bud was operating in a “growing market” as apprenticeship and other training organisations are subject to “ever increasing and more complex regulatory obligations”.
The firm added there was “significant bandwidth” for growth amid a national skills shortage, with the government investing £2.8bn in upskilling workers every year.
Luke Matthews, investment director at Maven, said: “Bud represents an excellent opportunity for the Maven VCTs to invest in a business that has delivered impressive year-on-year growth and with a demonstrable track record of supporting leading apprenticeship training providers.
“We can see the significant value that its tech solution offers to clients. It is highly rated and trusted by its client base and the Maven investment will provide the resource Bud needs to continue to provide its high level of service while pursuing sales growth, alongside the expansion of its technology platform.”
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