£3.1m for Marrakech

E-procurement solutions provider Marrakech has received £3.1 million in funding from a group of venture capitalists including Doughty Hanson Technology Ventures.

The investment marks the fourth round of VC funding since the company’s inception in 1998.

The Berkshire-based concern accompanied the fundraising with the appointment of John Bantleman as CEO and former IBM UK chairman Carl Symon as chairman. Bantleman brings 18 years of experience in technology, including successfully floating two ventures on Nasdaq.

Marrakech is looking to double the size of its UK team in the next six months and will use part of the funding to attract the cream of the IT industry’s talent. The rest of the cash will go towards expanding into the US and enhancing its product offering.

Leslie Copeland

Leslie Copeland

Leslie was made Editor for Growth Company Investor magazine in 2000, then headed up the launch of Business XL magazine, and then became Editorial Director in 2007 for the online and print publication portfolio...

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