High Integrity appeals to Albany

Technology-focused venture capital group Albany Ventures has led a £2.5 million second-round funding for engineering software developer High Integrity Solutions, alongside co-investors Foresight Venture Partners and Enterprise VCT.

High Integrity’s core offering is targeted at those working on large (often multinational) engineering projects in the avionics and transport sectors. Such projects often run into trouble as they rely on data being manually transferred between a multitude of different systems. High Integrity aims to solve this problem by offering a platform that standardises the process and, in turn, saves both considerable time and effort for the company concerned.

Albany’s investment follows an initial £3 million funding round from the corporate venturing arm of aerospace giant BAE Systems. BAE initially backed High Integrity because it recognised the savings it could make using the latter’s products and, alongside Airbus, remains one of the software developer’s key customers.

Of the money raised from Albany, Foresight and Enterprise, Ron Stewart – High Integrity’s managing director, explains, ‘we can now shift our sales and marketing into top gear.’ Following the transaction, Albany’s Raymond Abbott and Foresight’s David Hughes will join the software group’s board as non-executive directors.

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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Venture capital funding