Foresight Nottingham Fund invests $750K in UK-based AppInstitute
UK-Based AppInstitute announces a $750K investment by the Foresight Nottingham Fund. Dubbed the ‘Wordpress’ for mobile Apps, AppInstitute aims to be at the forefront of the mobile App platform industry.
AppInstitute’s cloud-based service aims to reshape the App market by providing a SaaS (Software as a Service) platform that allows businesses and individuals with little to no prior technical knowledge to create their own mobile App for iPhone and Android devices.
Whether they be in the food industry, m-commerce, event booking, messaging, customer loyalty, data capture, GEO listings, or rich content (HTML, images, video), businesses of any size can use the platform’s software to create a mobile App that suits their specific needs.
Via its web-based platform, AppInstitute provides its users with a complete solution to enable them to harness the growing demand for mobile Apps and the business growth they can facilitate.
Foresight Nottingham Fund’s investment to support AppInstitute’s CEO Ian Naylor and CTO/COO Justin Ashurst, as well as Chairman Paul Brennan, provides the company with development capital to drive further growth and job creation in the years ahead.
“We believe every business should be able to harness the benefits a mobile App will bring to their business in order to compete against their larger counterparts. The fact that Nottingham has this dedicated regional fund with a mandate to support businesses like ours in the area is a testament to the vision and commitment that Foresight has shown to the region,” says AppInstitute CEO Ian Naylor.
With a customer base that includes all small-to-medium-sized businesses, and start-ups, AppInstitute experienced a steady growth in recent years.
Now with new investment from the Fund set to unlock additional capacity, the company’s growth trajectory is forecast to accelerate.
AppInstitute is a beneficiary of the Foresight Group’s $60 million Nottingham fund to invest in local businesses, explains Naylor.
With its central operations based out of Nottingham’s Creative Quarter, AppInstitute qualified for the fund thanks to a strong management team, sustainable competitive advantage, and operations in attractive markets around the globe.
“We are delighted to be supporting an ambitious management team through the investment in AppInstitute, which is a great example of the creative and dynamic technology businesses based in the city,” says Tom Thorp, Director of the Foresight Nottingham Fund.
With over 60% of online purchases in the UK being made on a mobile device, making it over a $10 Billion industry, the demand for obtainable and affordable mobile App solutions is sure to continue rising.
AppInst Ltd. (AppInstitute) is a Software as a Service (SaaS) provider based in Nottingham, UK and founded in 2011 by Ian Naylor and Becky Hall. The company offers a solution stack to enable its SMB customers to create and manage affordable Smartphone Apps (iOS and Android), with no tech skills or coding. AppInstitute has partners and end-client businesses in over 10 countries across 4 continents, with their initial focus on the UK market. The company currently has 18 staff working in Nottingham and London’s Google campus office with expectations to reach 50 over the next few years.