Software company GoReport to use £500,000 funding boost to drive growth
A building software firm which makes products for surveyors and other professionals has won £500,000 in funding from venture capital fund Crescent Capital.
GoReport, which is based on Belfast's Heron Road, said the funding would help it accelerate its growth plans as it looks for more market opportunities.
The firm said it is already a top developer of mobile digital surveying software used by professionals, such as project managers, fire safety consultants and insurance loss adjusters, as well as surveyors.
The software can be used on a mobile device to record data about a property and can then generate reports which can be used to make decisions on the management of a property.
GoReport chief executive Anthony Walker said: "The property sector is changing at an unprecedented pace.
"Surveyors face an increasing number of opportunities that are only open to those who can demonstrate ability and experience in using digital technology.
"As digitisation continues to expand, 'proptech' (property technology) is now a more mainstream requirement than an optional extra.
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"We are in the perfect position to take advantage of this fast-growing market."
Bob McGowan-Smyth, investment director at Crescent - and now a non-executive director on the board of GoReport - added: "We back strong ideas and experienced teams.
"This investment marks a first for us in proptech.
"The high-calibre management team at GoReport immediately impressed us as it is delivering notable recurring revenues and strong market growth from a continually growing customer base."
The company's products include software to enable surveyors to carry out 'snagging reports' to highlight any problems with new-build properties which have not been caught in other surveys.
GoReport is the trading name of MobileReport Ltd. While its headquarters are on Belfast's Heron Road, it also has staff in Great Britain.
Crescent Capital is led by managing director Colin Walsh, who last week received an MBE for services to economic development in Northern Ireland.
The fund has supported other tech firms including Modern Democracy in Londonderry.