BigChange sells majority stake to fuel expansion
BigChange has sold a majority stake in the company to Boston-based growth investment firm Great Hill Partners, enabling it to push ahead with future expansion plans.
The sale is raising over £75m – valuing the company at £100m. The funding will be used to enable BigChange to double its workforce over the next five years and grow its UK operations and move into new markets within the US, continental Europe and Asia Pacific. BigChange‘s management team, led by founder and CEO Martin Port, will retain a significant minority stake.
BigChange’s tools provide vehicle tracking and mobile workforce management, used by over 1,500 SME clients across 20 industries, from trucking to fleet management, plant hire to drainage and waste, and social housing to food service.
BigChange CEO Martin Port said: “I founded BigChange to revolutionise mobile workforce management and bring it into the 21st century. Our platform eliminates paperwork, dramatically cuts carbon, creates efficiency, promotes safer driving, and means that engineers are spending less time on the roads or filling out forms and more time completing jobs. We are incredibly excited to partner with Great Hill and leverage their successful track-record scaling vertical and enterprise software companies both in the UK and overseas.”