Finance Yorkshire backs mining software developer
A North Yorkshire business which provides software to the mining sector has secured "significant investment" from Finance Yorkshire to allow it to expand and create jobs.
ProFound Mining, based in Hinderwell, plans to use the funding to develop a new range of applications. Three additional programmers will be hired alongside a sales manager, taking the number of jobs at the company from three to seven.
"We are developing a whole range of applications which will change the way that mining companies deal with data," said co-founder Peter Nathan.
"One of our applications, known as pro-HSE, enables not just mining companies but any company in the manufacturing, construction and quarrying industries to keep data that is highly personal to each of the people they employ.
"The data is logged by individual and includes safety in the workplace, near misses, accidents, training, risk assessment and audit. This means companies can be much more efficient and accurate in the way they record and measure their data."
ProFound Mining was advised on the deal with Finance Yorkshire by Steve Gledhill of SJG Consulting and by Asad Ali of Blacks Solicitors. Dr David Belford joins the company as chairman.
Darren Morris, Finance Yorkshire Investment Manager, said: "Peter has brought years of experience in software applications to bear on the development of his business.
"Our investment will enable the company to move ahead with its commercialisation strategy which will allow the mining industry worldwide to benefit from modern software practices."
Finance Yorkshire provides seedcorn, loan and equity linked investments, ranging from £15,000 to £2m to help a range of small and medium sized businesses.