Concurrent Thinking operates in the High Performance Computing (HPC) – or Supercomputing – market. It has two trading divisions, Streamline Computing and Allinea Software. Customers include Rolls Royce, Chevron Texaco and over 30 universities

Oxford Capital Partners led this round of funding which included the private equity fund Forward Group and Midven. ICON Corporate Finance acted as advisers to Concurrent Thinking.

Victor Christou, investment manager at Oxford Capital Partners, says: ‘[We’re] delighted to support Concurrent Thinking at this stage of its growth and to have led this round of funding, which should allow the company to expand more forcefully into the international arena and develop the next generation of tools for the next generation of supercomputers.’

See also: University spin-outs and venture capital funds come together