Birmingham, West Midlands, UK (PRWEB UK) 20 December 2013
CORSO SECURES MIDVEN INVESTMENT AS GROWTH PLANS CONTINUE APACE
A company which provides software and specialist consulting services has secured almost £350,000 investment from venture capital firm Midven.
Corso UK Ltd is based in Leamington Spa and has also recently opened a new development office at The Custard Factory in Birmingham.
The company specialises in “enterprise architecture” – a blueprint for an organisation and its processes – which enables large companies to transform their businesses. Corso provides a suite of products and services that helps its clients to manage the different stages of large transformation projects.
The investment, through Midven’s Exceed Fund, will enable Corso to grow its development team, as well as expand its ability to deliver new software products and add-ons around strategic planning.
Chief executive Martin Owen said the additional presence in Birmingham was a logical move as the company continued to grow rapidly. “Whilst Leamington will remain a centre for sales and marketing, a development office located in the heart of the UK will help Corso recruit from around the country. Birmingham gives us great access to the city’s talent pool and places us at the cultural and innovation hub of the city,” said Mr Owen.
“The timing for the investment is perfect – we have developed versatile software that is capable of satisfying the most robust demands of the strategic IT planning process, and we need to grow our team and our products to continue our expansion.”
Mr Owen, who formerly spent three and a half years at IBM managing their product portfolio of global software products, formed the company in 2011 to create software for the mid-sized market and to “plug the gap” within the enterprise architecture sector.
John Slaughter, investment manager at Midven, said: “This funding will enhance Corso’s ability to establish itself further in the marketplace and continue attracting interest from a number of blue-chip customers. The strong management team, the expansion in its range of software and the implementation of its ambitious plans continues to make Corso an attractive proposition.”
Picture caption: From left: Kingsley Pinto (Corso), John Slaughter (Midven) & Martin Owen (chief executive Corso).
Corso is a global products and services company specializing in Enterprise Architecture, Strategic Planning and Business Transformation. We provide unique products, professional know-how, and industry-proven technologies to meet the needs of our customers. We were formed by a team of Strategic Planning and Enterprise Architecture experts with experience in solving real-world problems utilizing tools, methods and frameworks. Corso is an Advanced IBM Business Partner that provides a wide range of expertise in many IBM products and solutions. Our add-on software is also certified by IBM as ‘Ready for Rational’. The Open Group also certifies our ArchiMate solution and our consultants are TOGAF and ArchiMate® certified.
Our European headquarters are in Leamington Spa, United Kingdom and we have offices in Birmingham, UK, New York City, Melbourne, Australia and Toronto, Canada. We have access to a network of world-class resources in people, tool vendors and software and can provide consultancy and support on a global basis. We aim to provide top of the range industry expertise and will not settle for second best. For more information, please visit http://www.corso3.com.
Midven is the leading Midlands-based provider of venture capital funding to early-stage and established businesses.
Midven currently manages five funds representing a total of £74m under management. The £18.4m Midven Exceed Fund was established in December 2009 to invest in high growth businesses in the West Midlands. It became operational in March 2010 when LDC became an investor in the Fund. The Exceed Fund can invest up to £750,000 in a range of sectors to support expansion and development. Managed By Midven, its investors include Lloyds Development Capital, the Department for Business Innovation and Skills and the European Regional Development Fund.
Midven was established in 1990 and has grown significantly since the existing management team took ownership of the business in 2007. The Midven team has established a reputation for delivering solid commercial experience and creative business solutions to help their portfolio companies achieve exceptional outcomes. For more information, please visit http://www.midven.co.uk.