Objective Associates close Investment Funding to lead growth
Quarter 4, 2011. Objective Associates Ltd is a software development and digital agency based in Stirling with a management team that have over 40 years experience with a strong track record in delivering complex software solutions. The company recently secured £250k of external equity investment in September 2011, which was augmented with additional RSA Grant Funding of £200k to enable the company to support its development in ‘Seller Dynamics’ software and increase future growth of the company
As part of this funding round Objective Associates Limited, have strengthened their board ahead of their next phase of growth. Steven Morris joins the board as Executive Chairman having been lead investor in the company’s recent growth funding round in excess of £450,000.
Steven joins the board as the company accelerates the development of its web based technology to exploit the growing successes of online marketplaces – Seller Dynamics. “Online marketplaces account for a significant proportion of the £500 Billion e-retail global market”, explained Steven, “but retailers still don’t have the applications and services in place to maximise their return from marketplaces such as Amazon and eBay. It was the opportunity to fill that gap and to help online retailers maximise profits that excited me about the chance to work with Objective.”
Online retail sales growth in the UK is currently reported as growing at around 20% per annum, providing a valuable sales channel for retailers in an otherwise recessionary economy. With consumers hungry for best value and retailers increasingly using multiple online channels, the need for applications which can efficiently manage online stock levels, margins and logistics from a single contact point is at an all time high.
The company will be releasing a new application as well as a range of new services through 2012 which will assist retailers maximise the return from their online sales. Alex Ogilvie, CEO of Objective Associates, said “We’re delighted to get Steven on board – his international expansion experience and unrivalled drive will make a significant difference to the roll out of Seller Dynamics as we take the business forward in 2012.”
About Objective Associates Ltd
Objective Associates Limited are a leading software and web development agency based in Stirling, Scotland. The company works with a range of clients requiring ecommerce solutions as well as multinational organisations requiring internal business systems to assist in the streamlining of sales and business information flow. Formed in 2002 the company has significant expertise in the design and development of robust and scalable software systems utilising the Microsoft Platform and related technologies.
DC Consulting were delighted to assist in this funding round and support the company in securing additional funding resource through the RSA Grant initiative to enable the company to fast track its growth plans in rolling out the Seller Dynamic platform.