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4th August 2020

FUNDING BOOST CREATES FIVE NEW JOBS AT EDUCATION IT PROVIDER

A NORTHAMPTON-based provider of specialist education IT services is set to create five new jobs after landing a £90,000 boost from Enterprise Loans East Midlands (ELEM), through a Small Business Loan from the Midlands Engine Investment Fund (MEIF).

Overnet Data, founded in 2008, offers an integrated single information platform called Edulink One that can be accessed via a web browser or app by all users including staff members, students and parents.

There are currently 250,000 users of Overnet Data’s platform across schools and colleges in England and Wales. Alongside new recruitment, the funding will enable the business to continue developing its software and bolster its support system.

Anthony Wright, founder of Overnet Data, said:

“I could see that schools across the country were having to manage numerous systems and platforms when it came to day-to-day admin. I therefore set up Overnet Data to create a streamlined and more effective way of working. The service can be used by staff members, parents and students in a way that is easy to access and, importantly, at an affordable price.

 “Thanks to the funding and support we’ve received from Enterprise Loans we’re now in a place where we can expand further and double the size of our team.”

Overnet Data has refined its system over the years. Starting as a platform named Moodle, Wright then spent four years developing the software to create Edulink One - the system in place today. This was brought onto the market at the beginning of 2017.

Matthew Wright, business advisor at Enterprise Loans, said: 

“The service Anthony provides with Edulink One is like nothing else on the market and his unique position and business sense means his firm was already blossoming by the time he approached us. In the last year, Overnet Data has seen rapid growth in a number of locations, with over 50 per cent of secondary schools in some local education authorities now using Edulink One.

“Therefore, it’s unsurprising he’s looking to expand his business and the team, so I’m delighted that we’ve been able to further assist Anthony and look forward to watching Overnet Data continue to go from strength to strength in the coming months.”

Lewis Stringer, senior manager at the British Business Bank, said:

“It’s great to see businesses in the East and South-East Midlands still expanding and MEIF fund managers investing in the current economic environment. We’d encourage any SMEs in the region looking for funding to consider the options available through the fund.”

Hilary Chipping, SEMLEP chief executive, said:

“Helping businesses to expand and grow through access to funding is crucial for a successful economy. It is great to see the Midlands Engine Investment Fund support a local business with such as unique proposition to create new job opportunities, especially at this time.”

The MEIF project is supported financially by the European Union using funding from the ERDF as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.

For more information on Enterprise Loans, please visit www.first-enterprise.co.uk or follow @1st_Enterprise on Twitter. For further information on the MEIF, please visit www.meif.co.uk or follow @MidsEngInv.

Follow @midsenginv

#MEIF Small Business Loans can be used to support new product development, expansion projects and purchasing new equipment.

Find out more about the finance type here: https://t.co/jYDjBK5oLs https://t.co/cIlO7HsLrw
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Read more on our website: https://t.co/UFTXQcQpSW https://t.co/CO3PwJJCgW
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Derby manufacturer @ComplexiaUK is set to expand and create 7 new jobs after a £100k boost from #MEIF and @1st_Enterprise.

Funding will be used to invest in new machinery and support the firm as it moves into new markets.

Read more in @insidereastmids: https://t.co/wBhDHDCOXi https://t.co/wcCOQx46lT
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Follow @midsenginv

#MEIF Small Business Loans can be used to support new product development, expansion projects and purchasing new equipment.

Find out more about the finance type here: https://t.co/jYDjBK5oLs https://t.co/cIlO7HsLrw
MidsEngInv photo

Birmingham-based tele-optometry company, @EyotoOfficial, is set to develop new technology to enable remote eye tests following a £2.5 million funding round, supported by #MEIF and @Midven.

Find out more in @businesslive: https://t.co/djUD8wWvH5 https://t.co/Nl0hhVQIej
MidsEngInv photo

Leicester tech firm @Navitas_Group is set to digitise the food safety industry following a £745k equity investment from #MEIF and @ForesightGroup.

The boost will support the full market roll-out of its food safety technology.

Read more on our website: https://t.co/UFTXQcQpSW https://t.co/CO3PwJJCgW
MidsEngInv photo

Don't forget to subscribe to our newsletter for all the the latest investment news, insights and exclusive interviews.

Sign up on our website: https://t.co/bhaSJ3nvsT https://t.co/kxSnLTPulF
MidsEngInv photo

Derby manufacturer @ComplexiaUK is set to expand and create 7 new jobs after a £100k boost from #MEIF and @1st_Enterprise.

Funding will be used to invest in new machinery and support the firm as it moves into new markets.

Read more in @insidereastmids: https://t.co/wBhDHDCOXi https://t.co/wcCOQx46lT
MidsEngInv photo

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