Seedcorn Fund Case Study
Reset is a Sheffield-based company that launched an innovative new management system that is helping organisations monitor the competence of contractors and staff before they commence work on site.
Reset offers a suite of efficient and cost-effective tools to employers so they can then be certain they have fulfilled their duties and obligations under Construction and Design Management (CDM) regulations and health and safety law.
The company further assists contractors by giving them the means to manage their staff training records and complete standard checks such as driving licence audits.
From its conception in 2010, Reset Certification has rapidly grown and today employs 15 members of staff.
It has developed an impressive client base including, amongst others, Leeds Bradford International Airport, the University of Bradford and NHS Trusts across the UK, as well as a number of private organisations.
Reset is an ambitious company with a popular product that needed a cash injection to keep up with demand.
Managing Director Gary Duce wanted to increase the company’s reach with a larger emphasis on marketing in a bid to roll out the management system nationwide.
A budget for product development and devising new bolt-on solutions was also key to the company’s growth plan.
Finance Yorkshire’s Seedcorn Fund invested £300,000, enabling Reset to expand its staff, and invest in sales and marketing to promote products more widely to construction companies, NHS Trusts, universities and shopping centres.
The Investment Rationale
Finance Yorkshire Investment Manager Graham Davies said: “Seedcorn funding is there for early stage ventures, which we believe have the potential to become beacon companies in the region. Reset is proving to be an exceptionally useful solution for anyone employing third party contractors, and we believe it has fantastic growth potential.”
Reset is forecast to grow to 50 staff over the next three years, and Finance Yorkshire’s Graham Davies is confident the future is bright for this visionary company.
Note: this case study is from Finance Yorkshire’s previous fund. Read more about Finance Yorkshire