Member Profile
TRI Cap Portfolio - Intrallect
First Investment April 2006
The Linlithgow-based software house, Intrallect, is an emerging world leader in the specialist field of learning object repositories (LOR), which are used principally in the academic sector to allow the organisation, sharing and re-use of training materials. Universities and colleges of higher and further education throughout the world are now using Intrallect’s flagship product intraLibrary as their defacto LOR.
Having secured first-round funding in 2002 from West Lothian Ventures and Edinburgh Technology Fund, the company - which is a spin-out from Edinburgh University – continued to pursue ambitious expansion plans, which required a second round totalling £450,000.
In May 2006 Tri-Cap’s members committed a large proportion of the £450,000 sought, in partnership with the Scottish Co-Investment Fund and the Clydesdale Bank.
In October 2006 Intrallect announced that it had doubled its staff headcount to 12, and moved to larger offices in Linlithgow. Further expansion is planned in 2007, as the company seeks to consolidate its leadership position in the UK market, expand into overseas markets and diversify into other market sectors.
March 2009
TRI Cap strikes a deal with software specialist Leading Software which sees the latter taking over all shares in software developer Intrallect in a share exchange agreement.
The deal means Linlithgow-based Intrallect joins the Leading Software stable. Set up in 2008 by IT entrepreneur Bob Dryburgh with support from Capital Angels syndicate, the company acts as a corporate parent to high growth, specialist software companies. The company has to date acquired four software companies in high growth market sectors.