App developer Collabco receive £250,000 in funding from North West Fund
The Liverpool student app developer, Collabco, has received £250,000 of investment from the North West Fund after developing software to help academic institutions engage with their students.
This new funding comes in addition to £670,000 of funding awarded in March 2014, for a total investment of £920,000 provided jointly by The North West Fund for Venture Capital (managed by Venture Enterprises) and The North West Fund for Digital & Creative (managed by AXM).
Based in Liverpool Science Park, Collabco was founded in 2009 by IT professional Dave Bown. Collabco’s “myday” system, now used by more than 30 further and higher academic institutions, gives students a dashboard that brings together their entire academic experience, from attendance, grades, library information, fines and payments, calendars, timetables, as well as news and social media feeds.
Managing director of Collabco, Matt Dunkin, said:
“Today’s students are digital natives. Higher education institutions need to communicate with them on their own level if they are to engage with them and help them achieve the best results.”
Enterprise Ventures’ Lisa Ward said:
“Myday is a unique product which has really struck a chord within the higher education sector.
“The initial funding has allowed the company to accelerate marketing, sales and development of myday, creating new jobs in each of these areas. This latest round will allow continued development to enable learners to interact in real time with each other and their tutors.”
Enterprise Ventures was advised on their investment by Melanie Yeomans, law firm Ward Hadaway’s corporate finance partner at their Manchester office.
The North West Fund for Digital & Creative and The North West Fund for Venture Capital are financed jointly by the European Regional Development Fund and the European Investment Bank.
Words: Peter Cribley