Lyceum Capital announces TotalMobile backing as MMC bags lucrative exit

Provider of enterprise mobility solutions wins significant investment as venture capital firm MMC claims 11x exit from long-term portfolio company.

Enterprise mobility software company TotalMobile has secured a significant investment from growth investor Lyceum Capital, the parties have announced.

The Belfast-based business has a strong presence in local government and healthcare and counts Fife Council, Nottinghamshire County Council, Bristol Community Health and Virgin Care among its customers.

It has also recently expanded further into the private sector across utilities, engineering and facilities management, with customers such as Allianz Engineering and Clancy Docwra.

The investment by Lyceum will enable the company to accelerate its new product development – including additional functionality and an enhanced SaaS proposition – as well as expanding into new vertical sectors and overseas markets through its partnership channel.

This deal provides an exit for MMC and represents a 11x return for their investors.

Jon Coker, partner at MMC Ventures and non-executive director at TotalMobile, praised TotalMobile as a company that has “built a great company offering a globally leading product that helps solve a huge problem”.

“They have done this while fostering a fantastic culture, which comes across in everything they do,” he continued.

“It is exactly the type of company MMC looks to invest in. It has been a pleasure to work with Colin, Ronnie, Geoff, Gareth and Michael. We would like to thank them for the years of hard work and we look forward to watching their continued success.”

TotalMobile CEO Colin Reid thanked MMC for its “strong support and valued input over the years”.

“MMC backed TotalMobile from an early stage and their continued belief in the team has helped us build our business, now we have an excellent platform for continued expansion,” he said.

“I cannot speak highly enough of them as an investor partner and would strongly recommend them to any growth company seeking venture funding.”

Further reading: Gousto raises £9m with backing of Business Growth Fund and MMC Ventures

Praseeda Nair

Praseeda Nair

Praseeda was Editor for from 2016 to 2018.

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