Acuity Advisors secures investment in Internet of Things leader Concirrus Limited

Acuity Advisors, the independent corporate advisory, has successfully concluded a venture capital investment on behalf of Concirrus Limited. Selected as exclusive advisor, Acuity Advisors has drawn on its unique Internet of Things sector expertise to complete the investment with venture capital specialists Imperial Innovations Group plc.

The funding will allow Concirrus to continue the build out of its suite of products for the insurance, fleet and industrial asset markets and fund expansion of the sales team to capitalise on existing channel partnerships. In addition to the investment, Concirrus has acquired the IP and certain assets of its former subsidiary Concirrus Cloud Ltd. and will now operate as a single entity.

The Concirrus product enables customers to gather and analyse data from the billions of IoT connected devices and use it to improve, disrupt and create innovative businesses and processes. Last year the Company provided connected solutions in a range of business applications, including asset monitoring, predictive maintenance, fleet management and vehicle insurance, whilst at the same time winning awards from Gartner, Nexus, Scale-Up London and TechMarketView. Concirrus was also featured by both the Sunday Times and the Daily Telegraph for its contribution to the IOT.

Acuity brought hands-on deal support and IoT sector knowledge to the process enabling a successful investment by Imperial Innovations.

Andrew Yeoman, CEO at Concirrus, said: “We have built this company to bring IoT capability and its underlying business value to a broad range of companies. Despite approaches from a variety of corporate and financial investors, we have not taken any outside capital to date.  However, we were attracted to the Imperial Innovations’ model of working closely with management in technology-differentiated companies to build and scale for long-term success. We came to appreciate Acuity’s attention to detail and professionalism at all stages of the process and their IoT sector insight.”

Matt Stamp, Partner at Acuity Advisors, who worked with Concirrus on this process, commented: “There are only a handful of companies that have demonstrable traction in the IoT sector and Concirrus is one of them. Acuity ran a successful process that saw considerable interest in the business and where it became apparent very quickly that Imperial Innovations was the perfect partner for Concirrus. It has been a pleasure working with Concirrus in an exciting sector and at a pivotal point in their evolution. We are thrilled that Imperial Innovations has chosen to invest in a unique proposition as this will enable the team to build on their considerable success to date.”

quote We have built this company to bring IoT capability and its underlying business value to a broad range of companies. Despite approaches from a variety of corporate and financial investors, we have not taken any outside capital to date. However, we were attracted to the Imperial Innovations’ model of working closely with management in technology-differentiated companies to build and scale for long-term success. We came to appreciate Acuity’s attention to detail and professionalism at all stages of the process and their IoT sector insight. quote
Andy Yeoman Concirrus Limited

A conversation is never wasted. We’re confident that we can give you all the help you need, but we’ll tell you if we think there’s a better option for you.

Get in Touch Get in touch now