A COMPANY specialising in software systems for dental practices across the UK is to complete of a new management package after securing £200,000 of funding.
Wysdom Dental Technologies is to use the money to invest in product development and the launch of its new management system software CloudPlus.
The company, based in Milton Keynes, has already developed products including an online shift and holiday management system, a platform that manages dental equipment sales and maintenance and software to help with the purchase of dental consumables.
It is preparing to launch its CloudPlus system after securing the funding from the Midlands Engine Investment Fund ‘s East & South East Midlands Debt Finance Fund, managed by Maven Capital Partners.
The system uses a Cloud/SaaS browser-based system synchronised to an on-premise bespoke server for 24/7 service continuity, said Wysdom Dental Technologies managing director Glenn Wynsor.
“The funding secured will help finalise the remaining product development work and support the launch,” he added.
Wysdom was introduced to Maven Capital Partners by Milton Keynes-based Independent Banking Consultants. Maven investment manager Graham Hall said: “Wysdom Dental has entered a new phase of growth following continued investment in R&D, helping to fine tune its product portfolio and better serve clients’ needs.
“We are delighted to be able to help Glenn and Jo complete the final development of their new product. This is another great example of Maven and local advisors working together to deliver a timely growth debt solution.”
The investment is the latest in a series by the MEIF which have helped to develop and bring to market new innovative products, said British Business Bank senior manager Lewis Stringer.
The MEIF is supported by growth delivery agency the South East Midlands Local Enterprise Partnership. Its growth hub manager Vicky Hlomuka said: “The past year has been tough for everyone and businesses have had to adapt accordingly. It is fantastic that this Midlands Engine Investment Fund investment is helping a local business to innovate, launch new products and get back to growth.
“This will help expand the region’s advanced technology field even further.”