Maven completes investment in leading SaaS provider Precursive
We are pleased to announce that the Maven VCTs have completed a £2.5 million investment in Precursive, a software as a service (SaaS) provider which allows clients to manage a wide range of business processes on a single, user friendly platform.
Precursive is a strategic partner of Salesforce, the world's largest customer relationship management (CRM) platform, and works with businesses in the agency, consulting, technology and professional services sectors. Its software helps customers operate more efficiently by automating time consuming processes such as resource management, project planning, accounting, forecasting, reporting and client onboarding.
The effective allocation of skills and resources remains one of the main operational issues for businesses in every sector of the economy, with the ability to accurately manage and measure staff capacity against utilisation being crucial for the profitable delivery of services. Many business leaders and project managers still use Excel spreadsheets to forecast capacity issues, often leading to inefficient workforce management and poor allocation of resource.
Precursive's cloud project management tools modernises this process and drives efficiencies throughout a business. It enables its clients to deliver shorter onboarding timelines, cut down on client churn by boosting customer experience, and reduce time-to-value rates. The end result for clients is increased operational efficiency and ultimately greater profitability.
London based Precursive also has a presence in the USA, Spain and Poland, as well as a growing list of blue chip clients including GoCardless, Mitel, GoCardless, SES and Vidyard.
Our investment will allow Precursive to pursue an ambitious, comprehensive growth strategy in both the UK and USA, including funding further product development and expanding its highly qualified sales and marketing teams to help the company grow its channel partner ecosystem.
Precursive has built a strong market position, and its innovative platform provides clients with an all-in-one onboarding and resourcing solution that streamlines operations across the board. Now more than ever, businesses are thinking about how they can improve profitability by becoming more efficient, and Precursive are helping to lead the way in changing the way companies work. The management team impressed us from the outset, as did their ambitious plan to grow and develop the business.
Julie Glenny, Investment Director, Maven
Our mission is to help our customers around the world to scale. Customer onboarding and capacity planning are critical workflows for any tech or services business. We're delighted to work with Maven, especially given our shared vision for the long term future of work. They stood out as they understood our strategy, values and how we continue to enable customer success.
Jonathan Corrie, Co-Founder & CEO of Precursive
Partnering with Maven helps us scale by growing the team and our product offerings to further serve the needs of our customers. They recognise the role Precursive plays in helping some of the world's best companies to see success faster. We've found an investor that is excited about the opportunity to change the way companies onboard their customers, manage their people and grow services businesses.
Andy Mahood, Co-Founder & CTO of Precursive