Small-business investor BGF is to put £11.5 million into Tevalis, a Hull-based company selling electronic point of sale (EPOS) software to the leisure and hospitality industry.

With more than 800 customers across 2,000 sites, Tevalis helps businesses manage, streamline and deliver their food and beverage operations, combining order and pay, kitchen, stock and cash management modules, with a suite of business analytics and reporting tools.

Tevalis is one of the leaders in the UK leisure and hospitality EPOS market, working with leading restaurants, bars, food halls and major leisure destinations, including brands such as Village Hotels, Boxpark, EG Group, Colchester Zoo and Ben & Jerry’s.

Founded in 2005 by CEO James Cook, Tevalis now has more than £8 million of annual sales. With BGF’s funding, the business said it is aiming to treble recurring revenues over the next three to five years.

“It was important for us to find an investment partner who understood our sector and could take a long-term, patient view,” said Cook. “We also wanted an investor who could help us scale and take the business to the next level – in BGF, we have that and we are looking forward to leveraging their network over the coming months and years to support our growth.”

As part of the deal, Rob Caul has been appointed as non-executive chair. The deal was led by Rob Johnson and James Baker – investors in BGF’s Yorkshire and North East team.

“We’re excited to be investing in a high-quality technology business of scale, with an ambitious growth plan,” said Johnson. “Operating in a fragmented market, James and the team have done an impressive job in establishing the Tevalis brand, with clear opportunities to increase market share, both at home and abroad. We look forward to building on the excellent relationship we’ve built with James through the deal process.”