Farnborough based shipping technology company, Locus Software Limited, are the latest company to be supported through the Enterprise M3 Funding Escalator. The company have successfully secured a £150,000 Expansion Loan to help increase their resources to facilitate the next stage of their growth.
Established 10 years ago Locus Software offers an Enterprise system that acts as a ‘one-stop-shop’ for ocean shipping companies. This pioneering approach to container tracking, operations management and document handling brings the somewhat outdated back-office processes of the shipping industry up to speed and onto the cloud. Locus’s Odyssey platform is already proven to the market, becoming popular thanks to its powerful integration with ecommerce capabilities and collaboration tools. Existing customers and strategic partners alike reap the benefits of working with a company where the management team have in-depth industry knowledge and proven technology business experience. Partnerships with influential members of the shipping sector, WNS and INTTRA, only strengthen Locus’s growing reputation, ensuring that Odyssey is the obvious software solution for the liner shipping industry.
In order to keep up with growing demand Locus Software will be using the funding to expand the development team and enhance their working facilities. Thus allowing them to quickly and efficiently implement the system for new customers.
John Squire, Founder & CEO at Locus Software comments, “Our Odyssey Platform is currently the only cloud based solution available in the ocean shipping sector. So many other sectors have made the transition to cloud based databases and management systems and now the shipping industry is ready to embrace this upgrade too. Odyssey can deliver fantastic features in a much more cost effective and speedy process than traditional software with the added bonus of not needing to maintain multiple versions and the disruption of major upgrades.”
Derek Ellis, Fund Manager at the FSE Group, “The Odyssey platform is a complete game-changer in the shipping industry. It already has users in more than 40 countries across the world and the potential is there for rapid growth. These are really exciting times for the company and we wish John and his team all the success for the future.”
Dr Mike Short, CBE Chairman of Enterprise M3 Local Enterprise Partnership (LEP), said: “This is a great timing for Locus Software and a testament to the recently released Science and Innovation Audit for the South of England, which demonstrates our regional economy’s strength in applying innovative technology to the Marine & Maritime sector. We are excited that the company has secured the loan they need to expand, drive efficiencies in the maritime sector and create more jobs for our LEP area.”
The Enterprise M3 Funding Escalator is a £5.5m initiative funded by Enterprise M3 Local Enterprise Partnership. It includes a growth equity fund and provides eligible companies with loans and equity funding of £50,000 to £200,000 for activities delivering high-growth and employment opportunities.
For more information about the Enterprise M3 Funding Escalator please visit http://www.thefsegroup.com/enterprise-m3-funding-escalator or contact Derek Ellis at firstname.lastname@example.org tel: 01276 607302.
For more information about Locus Software visit: www.locussoftware.com