Sunderland based clixifix® Defect and Repair Resolution Software has received £300,000 investment to help continue its successful business growth.
The funding, from the North East Innovation Fund, supported by the European Regional Development Fund and managed by Northstar Ventures will help the company hire more staff to keep up with demand, whilst developing new products and features for their expanding customer base.
clixifix® is one of the fastest-growing property and construction technology companies in the country. Their innovative software tracks defects and repairs in houses and commercial buildings, from initial reporting to resolution. Since they launched, clixifix® has helped over 60,000 users resolve over one million reported defects and repairs on over 200,000 properties and projects.
James Farrell, Co-Founder & CEO of clixifix®, said, “We’re extremely proud to have closed our funding round with the help of the amazing team at NorthStar. The investment we have received will help us scale our services even further. We are looking to make new key staff appointments in the short-term and are working on product developments which will let us take on clients globally.
“However, our immediate focus is to get our platform into the hands of as many housebuilders and Principal Contractors as possible to help them digitise their aftercare processes and continue operating efficiently with stakeholders during, what has been a tough time for everyone. It is a massive sector we operate in with some very old systems in place. There are long-standing structural barriers that housebuilders and construction companies need to overcome in order to deliver a good aftercare experience.
“Our technology enables construction and aftercare teams to onboard in minutes and the process is entirely digital. Our expert team are on hand to provide support, resources and practical advice to help our clients through the transition’’
Richard Charnley, Investment Manager at Northstar Ventures, said: “We initially invested in clixifix and have continued to be impressed by the team and growth of the business. They have firmly established their reputation as leaders in the sector and we’re delighted to be able to support the team with further funding that will help strengthen the team and help scale up the business.”
National law firm Weightmans provided legal advice to Northstar Ventures during the investment round.
Weightmans Partner Paul Wigham said: “The North East’s technology sector is one of the most productive and rapidly developing in the UK, and our team is busy supporting businesses from across the region as they grow and revolutionise the way we work or live.
“We are proud of our long standing relationship with Northstar Ventures and were pleased to have advised them on another successful funding round. We look forward to continuing to work closely with them and innovative companies such as clixifix in what looks to be a bright future for the industry.”
Northstar Ventures Limited
Northstar Ventures is a venture capital and social investment firm based in the North East. We provide funding for innovative, scalable businesses and high impact social enterprises. We’ve been supporting entrepreneurs since 2004, seeking out strong teams with great ideas that will drive high growth, scalable businesses, and sustainable charities.As the North East’s leading early stage investor, we have invested over £100m into start-ups, early stage businesses and high impact social enterprises in the region. Our investment managers have a wealth of experience supporting new and growing businesses and bring commercial and operational experience, PhDs and MBAs, international careers and even a micro-business or two.
Information About The North East Fund
The North East Fund is a suite five venture capital and loan funds which was established in April 2018, to invest £120m in around 600 North East businesses in the period to March 2023. The fund managers provide business development advice and investment finance to small and medium sized enterprises based in the seven Local Authority areas of North East England: Northumberland, North Tyneside, Newcastle, South Tyneside, Gateshead Sunderland and County Durham. The programme encourages investment in and the commercialisation of new technologies, including low carbon technologies, as well as stimulating new business creation, private investment and entrepreneurialism in the North East, with a view to creating over 2,500 new jobs. The North East Fund has overall responsibility for the programme, which is delivered through five separate funds, each managed by independent, FCA regulated fund managers. Details of these, and up to date information on the progress of the programme, is available on The North East Fund’s website: http://www.northeastfund.org
The North East Fund has been established with funding from the North East of England European Regional Development Fund programme, the European Investment Bank and from returns on previous North East based, publicly supported investment funds. It is jointly owned by the seven North East local authorities
Information About the European Regional Development Fund
The North East Fund will receive up to £58,500,000 of funding from the England European Regional Development Fund as part of the European Structural and Investment Funds Growth Programme 2014-2020. The Ministry for Housing, Communities and Local Government is the Managing Authority for European Regional Development Fund. Established by the European Union, the European Regional Development Fund helps local areas stimulate their economic development by investing in projects which will support innovation, businesses, create jobs and local community regenerations. For more information visit https://www.gov.uk/european-growth-funding.
Information About the European Investment Bank
The European Investment Bank (EIB) will lend up to £60,000,000 to the North East Fund programme. The European Investment Bank is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals. For more information, visit: http://www.eib.org/about/index.htm
Weightmans is a top 45 law firm with over 1,200 people across offices in Liverpool, Manchester, Newcastle, Leeds, Birmingham, Glasgow, Leicester and London. Weightmans is dedicated to providing results for its clients and success for its people. For further information, contact: Lauren Terris Taylor, PR Manager, Weightmans LLP: firstname.lastname@example.org; 0151 242 7951