NPIF II - Maven Equity Finance has invested £1.6 million in eviFile, a UK-based leader in digital transformation for the built environment, to support their next phase of growth.
eviFile is a leading digital assurance and evidence management software provider, delivering a ‘golden thread’ of information across field data and project reporting. Its web and mobile platform is designed to enhance quality, minimise risk and support regulatory compliance for complex infrastructure projects. The platform is also 'live', providing real-time data insights and an advanced digital evidence solution.
The business has built a strong blue-chip customer base across rail, utilities, renewables and construction sectors, working with organisations such as Network Rail, Drax Power, Alstom, Siemens and SPL Powerlines.
Over the past 12 months eviFile has achieved double-digit revenue growth driven by rising regulatory requirements such as the Building Safety Act, the sector’s accelerating digital adoption and increasing infrastructure investment in the UK.
As part of its growth journey, eviFile is investing heavily in artificial intelligence to transform how complex infrastructure projects are delivered. The company is embedding AI across its platform to provide predictive insights, automate quality assurance and streamline reporting. By combining AI with Big Data from thousands of workflows each day, eviFile is helping clients improve decision making, reduce errors and deliver projects more safely and efficiently.
The investment from Maven will enable eviFile to expand its R&D, grow its sales and marketing teams and further enhance its platform capabilities. The partnership marks the beginning of the next stage in eviFile’s journey, enabling the company to scale faster and deliver even greater value to its clients.
“This is a really exciting time for eviFile. Our platform has been built to help clients take control of their project workflows with trusted data and real-time insight. Partnering with Maven gives us the support to scale faster and further. We’re looking forward to what this next stage brings and are confident that this partnership will help us deliver even more value and a better solution to our clients.”
Nick Halliday, Founder of eviFile
"eviFile has a highly scalable, proven operating model driven by a strong management team with a clear vision. With the significant uptick in digitalisation in the sector, the business is well positioned for continued growth within several verticals. We’re delighted to support Nick and the team as they execute their ambitious plans."
David Nixon, Senior Investment Manager at Maven Capital Partners
This marks the latest investment made by NPIF II Maven Equity Finance, showcasing Maven’s strong track record of identifying and nurturing high potential businesses, as well as the opportunity in the North East of England to drive innovation and growth. The Fund has also backed high-tech space communications firm, aXenic, engineer specialist, Dyer, specialist contract research organisation, Magnitude Bioscience, FinTech specialist, Kani Payments, food and beverage canning business, CRL Foods, and Radio-frequency identification (RFID) innovator, PervasID.
NPIF II - Maven Equity Finance can provide investment of up to £5 million to support ambitious earlier and later stage businesses across the North East of England. If your business, or the business you advise, is looking for an equity investment as a solution to fund future growth, get in touch here >