Member Article

Sheffield’s Reset gets £300k funding from Finance Yorkshire

Sheffield management system developer Reset has recieved a £300,000 investment from Finance Yorkshire’s Seedcorn Fund.

Managing director Gary Duce plans to use the funding to expand his team, and invest in sales and marketing to promote his products more widely to construction companies, NHS Trusts, Universities and Shopping Centres.

Reset has developed an innovative management system to help organisations check the competence of contractors and employed individuals before they commence work on site.

Reset aids compliance for all parties; client, contractor and individual, with a suite of efficient and cost-effective tools that fulfill duties and obligations under Construction and Design Management (CDM) regulations and health and safety law.

In addition, Reset assists contractors by giving them the means to manage their staff training records and standard checks such as driving licence audits and PPE issue.

From its conception in 2010, the company has already grown to 15 members of staff, and has an impressive client base including, amongst others; Leeds Bradford International Airport, the University of Bradford and NHS Trusts across the UK, as well as a number of private organisations.

With forecasts to grow to 50 staff over the next 3-years, Graham Davies, Finance Yorkshire’s Investment Manager said: “Seedcorn funding is there for early stage ventures, which we believe have the potential to become beacon companies in the region.

“Reset is proving to be an exceptionally useful solution for anyone employing third party contractors, and we believe it has fantastic growth potential.

Gary Duce said: “The investment from Finance Yorkshire is timely and will allow us to accelerate the growth of Reset.

“The funding will enable us to increase marketing, reaching out nationwide to potential users of Reset as well as expand our current service offering with new developments and other bolt-on solutions.”

Finance Yorkshire provides Seedcorn, Loan and Equity Linked investments, ranging from £15,000 to £2million, specifically to help small and medium sized businesses meet the gaps in the market for the funding they need for growth and development.

Finance Yorkshire has been developed as a European JEREMIE* initiative and is capitalised by grants from UK Government (£15m), European Regional Development Fund (£30m) and finance from the European Investment Bank (£45m).

This was posted in Bdaily's Members' News section by Clare Burnett .