Maven Capital Partners has invested £1.6 million with Leeds-based eviFile through the Northern Powerhouse Investment Fund which it manages.
eviFile is a digital assurance and evidence management software provider for the built environment, delivering a “golden thread” of information across field data and project reporting.
It has built a strong blue-chip customer base across rail, utilities, renewables and construction sectors, working with organisations invluding Network Rail, Drax Power, Alstom, Siemens and SPL Powerlines.
Over the past 12 months eviFile has achieved double-digit revenue growth driven by rising regulatory requirements such as the Building Safety Act, the sector’s accelerating digital adoption and increasing infrastructure investment in the UK.
eviFile is investing heavily in artificial intelligence to transform how complex infrastructure projects are delivered.
The company is embedding AI across its platform to provide predictive insights, automate quality assurance and streamline reporting. By combining AI with Big Data from thousands of workflows each day, eviFile is helping clients improve decision making, reduce errors and deliver projects more safely and efficiently.
With Maven’s support eviFile will expand its R&D, grow its sales and marketing teams and further enhance its platform capabilities. The partnership marks the beginning of the next stage in eviFile’s journey, enabling the company to scale faster and deliver even greater value to its clients.
David Nixon, Senior Investment Manager at Maven Capital Partners, said: “eviFile has a highly scalable, proven operating model driven by a strong management team with a clear vision. With the significant uptick in digitalisation in the sector, the business is well positioned for continued growth within several verticals. We’re delighted to support Nick and the team as they execute their ambitious plans.”
Nick Halliday, Founder of eviFile, added: “This is a really exciting time for eviFile. Our platform has been built to help clients take control of their project workflows with trusted data and real-time insight. Partnering with Maven gives us the support to scale faster and further. We’re looking forward to what this next stage brings and are confident that this partnership will help us deliver even more value and a better solution to our clients.”
The £660m Northern Powerhouse Investment Fund II (NPIFII) covers the entire North of England and provides loans from £25k to £2 million and equity investment up to £5 million to help a range of small and medium sized businesses to start up, scale up or stay ahead.