Published: Sep 29, 2021
Focus: Finance Durham Fund
The Finance Durham Fund has invested £185,000 in Project Control Tools, as part of a £300,000 funding package. The investment through Finance Durham, which is managed by Maven, will provide the business with a relocation package as it expands to open a site in County Durham, as well as allowing the business to invest in its in-house product development to grow its portfolio, and enhance its sales and marketing function.
Project Control Tools delivers intelligent software solutions to enhance the delivery and profitability of projects, primarily for rail and construction industries. The company’s innovative technology solution helps Project Management teams to streamline day to day tasks by saving time and reducing project spend.
“We’re really excited to close this investment round. We’ve worked really hard over the last few years to build our platforms, product awareness and loyal client base. Our main goal is to make the lives of our clients easier by offering easy to use, turnkey solutions which enable immediate digital transformation of all site and project processes. The investment will allow us to accelerate our growth plan, adding to our account management, sales & marketing and development teams and looking at other pain points we can solve in the industry.”
Fin Gregory, CEO and Co-founder of Project Control Tools
The business has developed two innovative platforms, SiteMate and StoresMate. SiteMate allows projects and businesses to digitise site and project management processes with the aim to aid compliance, monitor on-site performance and ensure a safe and successful project delivery. StoresMate tracks the use of tools, consumables, and stock on projects – and adds traceability and accountability on the use of assets throughout the ownership or hire lifecycle. The platforms are already used by a number of high profile customers including Network Rail, Balfour Beatty & Siemens along with businesses of all sizes throughout the supply chain.
Digital solutions and data capture are high on the agenda for large companies looking to gain a competitive edge in the sector and create operational efficiencies. The UK rail and construction sector was valued at £1.4billion in 2020. The sectors have an increasing need, for digitisation with the focus of making efficiencies in current paper based systems. With Covid19 leading to offices being closed and remote working, digital solutions continue to be in demand.
Backed by a strong management team with a range of technical and commercial expertise, CEO and Co-founder, Fin Gregory, has a range of industry experience working in key roles delivering projects at Network Rail, Balfour Beaty and TXM Rail. James Staines, COO and Co-founder, has over 10 years’ experience in project management and has previously worked as a Health and Safety Advisor for Holland America Group and TXM Rail.