The tech scene within the UK has seen increased growth in recent years, with many emerging firms seeing promise in the industry.
As a result, the UK has become the third country to have a tech sector that has reached the $1 trillion (£769.8 billion) valuation mark, following the US and China.
The tech industry scene in North East England is no exception to this success, as its companies have been trying to seize the economic opportunity in the area. As a result, many software and IT firms in North East England have been securing investments and bringing on new staff members to grow in this time of economic expansion.
Below is a look at some of the companies in North East England to keep your eyes on.
Bubo.AI is a Middlesbrough-based provider of dynamic pricing optimisation and analytics solutions for wholesale and distribution businesses.
Founded in 2019, the company uses machine learning and artificial intelligence in its price optimisation platform to analyse customers’ behaviour and provide value-based pricing recommendations.
The company has raised $1.2 million (£913,000) in funding over three rounds, most recently in August 2021, when it raised £250,000 in Seed funding from NPIF – Mercia Equity Finance.
Hicomply, founded in 2020, is an information security management software platform for enabling small and mid-sized enterprises to build their information security management system, protect their business data and manage information security compliance.
The Durham-based company received a £3 million investment from UK growth capital investor BGF in September 2021, bringing it to a total raised amount of £3.6 million in funding.
The tech firm plans to use its most recent funding to invest in sales & marketing and develop its technology further.
Inflo is a Houghton le Spring-based software company founded in 2016 that provides cloud-based accounting solutions to organisations and businesses.
Its platform assists its users with data acquisition, compliance automation, audit services and business growth. According to its website, 1,000+ accounting firms use its platform and 120+ countries are supported by its teams.
Recently the company has been developing solutions for automating the auditing process and reducing risk for accountants. Additionally, Inflo has provided work papers on audit and assurance for free to the public to maintain relevance within the North East England tech sector.
Founded in 2018, n-gage.io provides a data insight-driven audience engagement platform and mobile web application. The Newton Aycliffe-based company aims to enable users to create engaging digital experiences and connect with their audience on its customisable cloud-based platform.
In January, the company received £150,000 in seed investment funding from Growth Capital Ventures, which is in addition to £150,000 previously provided by Growth Capital Ventures through the GCV Labs venture builder division.
The SaaS company plans to use the money for further tech development as it continues to generate solutions for on and off-site mobile-optimised experiences.
Paid is a procurement automation platform company based in Darlington. The platform is developed for buyers and suppliers, and it aims to create equal opportunity for businesses of all sizes through its procure-to-pay process.
The company has raised $2.9 million (£2.2 million) in total funding thus far from two funding rounds in 2019 and 2020.
Since then, the company has been advertising its product through its ‘What’s in your long tail?’ podcast series. Paid wants to open up the conversation around the value that can be found in tail spend.
SaleCycle is a behavioural marketing company that provides solutions to support brands and companies reconnect with customers online.
Since the Gateshead-based company was founded in 2010, it has expanded internationally with offices in Paris. Notable clients include Tesco Mobile, Puma and Hertz.
SaleCycle appears to be expanding its workforce and aiming for action Down Under. It is advertising for software engineers, product designers, a sales development representative (in Australia) and more.
SeerBI is an IT services and consulting company that uses machine learning on dormant data to provide organisations with business intelligence and data-driven insights.
The company was founded in 2021 and is headquartered in Middlesbrough. Just this month the tech firm announced a partnership with Microsoft UK to deliver clients with their data services, including data analytics and data science.
Additionally, SeerBI has joined NVIDIA Inception, a technology assistance program designed to nurture startups with advancements in AI and data science. The company has been experiencing team growth as well, onboarding new professionals to its workforce.
Check out the previous feature on tech firms in Newcastle here.