NVM Private Equity has invested nearly £3 million of development capital into advertising and media software business Lineup Systems.

NVM Private Equity has invested nearly £3 million of development capital into advertising and media software business Lineup Systems.

According to a statement, the funding is set to support the growth of international sales for the London-headquartered business.

Lineup Systems’ services provide advertising booking, management, analytics and customer relationship management (CRM) tools for multimedia companies. It has products including AdPoint and AdMount which are used by 2,000 users across 26 countries.

The business was formed out of a spinout from the IT department at Metro International in 2010, when the management team invested, and has since reported revenue growth of 267 per cent. The institutional investment is the first of its kind for the business.

Michael Mendoza, CEO of Lineup, comments, ‘The NVM team really understands how we want to grow the business. Their investment will help Lineup advance the growth of its products into new media advertising markets, delivering to even more customers.’

As part of the investment deal, Ken Briddon, who currently sits as Chairman for NVM-backed Kerridge Commercial Systems, Lanner Group and KPJ Software Services is to become non-executive chairman at Lineup Systems to work alongside the existing management team.

James Arrowsmith, director at NVM, says that Lineup Systems is an exciting business with an entrepreneurial management team.

He adds, ‘They anticipated the new media landscape and continue to develop products to meet the needs of an ever evolving market.’