HMT LLP advised on the £2.5 million funding round for cloud-based software provider Precursive. Maven Capital Partners invested to support the business’ growth.
Founded in 2011, Precursive provides a best-in-class software solution to help companies manage their resources more effectively.
Currently based in the UK, Precursive’s cloud-based software enables growth through improved customer onboarding and better capacity planning. Precursive serves both small businesses and large enterprise across the agency, consulting, high tech, professional services and telecommunications sectors. The company is also a strategic Salesforce partner, the world’s largest provider of customer relationship management (CRM) software.
The £2.5 million funding round from Maven will enable the business to pursue an ambitious growth strategy in both the UK and USA.
HMT undertook financial due diligence for Maven on this transaction.
Julie Glenny, Investment Director at Maven commented:
“HMT quickly demonstrated a strong understanding of the Precursive business and provided a focused but thorough diligence report. The quality of their work was excellent and we would readily use them again on future investment opportunities.”
Paul Read commented:
“We are delighted to have advised Maven on yet another transaction this year. Precursive has a very strong growth potential in the ever-growing software industry and we look forward to working with them again in the future.”