Member Profile
TRI Cap Portfolio - Factonomy
First Investment June 2008
TRI Cap is part of the second funding round for Factonomy, a software company based in East Lothian. The company, which licences products to companies it claims will dramatically cut the cost of developing IT applications, secured £860,000 from a range of investors. Funding was led by Sigma Innovation Fund – a fund managed by Sigma Technology Management – which invested £300,000 – and also included Barwell and Scottish Enterprise's Co-Investment Fund.
The cash injection comes just two years after Factonomy raised a six figure sum in its first fundraising round. The company plans to use the money to expand its sales and marketing functions and increase the headcount at its Musselburgh headquarters.
With a current workforce of eight, Factonomy plans to grow its staff numbers to at least 16 within the next 18 months as a result of the funding
TRI Cap Contact: Tom Hart
Number of TRI Cap Investors: 18
Factonomy Contact: Neil Jordan
Factonomy Ltd
Stuart House
Eskmills Park
Mussleburgh
EH21 7PQ