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25th September 2018

Herefordshire tech company eTravelSafety flying high after £500k investment

  • Equity investment from Midven through the Midlands Engine Investment Fund (MEIF) will accelerate product development and recruitment at eTravelSafety

Hereford-based tech company eTravelSafety has received a £500,000 equity investment from venture capital firm Midven. This is Midven’s first investment in the Marches area through the Midlands Engine Investment Fund (MEIF).

eTravelSafety provides powerful mobile-ready software to enhance business travel safety. Their product portfolio comprises of a suite of tools that provide personalised travel risk assessments so that employees can travel safely around the world.

The £500,000 equity investment from Midven will allow the company to accelerate product development, broaden the sales team and increase their marketing reach.

According to the World Travel and Tourism Council, travel is one of the world’s largest industries, representing 9.5% of world GDP ($7 trillion) – with business travel accounting for $1.7 trillion per year and increasing every year. This sector growth, combined with greater worldwide risks, means there is an increasing need for employers to show a duty of care for employees. The eTravelSafety system provides a level of risk management to all staff levels that traditionally would only have been available to very senior employees.

Stuart Anderson, Chief Executive Officer at eTravelSafety, leverages more than two decades of security experience along with his industry knowledge to provide mobile-ready travel safety solutions.

Stuart Anderson, CEO at eTravelSafety, said:

“The market for travel safety and risk management is growing rapidly due to increasing political unrest, terrorism and criminal activity. eTravelSafety gives business travellers a comprehensive, engaging mobile platform to help ensure they are safe wherever they go. Our products allow for effective risk management, and on-the-go e-learning, enabling business travellers to discover more about their final destination on any device.”

Surjit Kooner, Investment Director at Midven, commented:

“eTravel Safety has developed an exciting proposition which is starting to build traction with corporates, public bodies and NGOs, who are all increasingly looking to provide greater protection for employees while they are overseas.” 

Ken Cooper, MD at British Business Bank, said:

“The equity finance within the Midlands Engine Investment Fund forms part of the British Business Bank’s efforts to reduce regional imbalances in the availability of investment for small businesses.

“The funds are there to help innovative young companies like eTravelSafety that have the potential for growth, but need extra support to expand quickly. This investment in eTravelSafety will help broaden its market offering, stimulating economic growth locally and nationally.”

Graham Wynn, chairman of the Marches LEP, said:

“The success of companies such as eTravelSafety is vital to the continued growth of our region and our strategy to develop an innovative, modern economy across the Marches. The Midlands Engine Investment Fund is designed to help in exactly these circumstances and we are delighted we have been able to support the company’s vision in this way.”

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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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
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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

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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
MidsEngInv photo
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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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