Frog leads £7m round for SHE Software

The Northern VCTs, managed by Mercia following their acquisition from NVM last year, also participated - the funds were existing backers of SHE Software.

Frog Capital is currently investing from its Frog European Growth II fund, which held a first close on €50m in November 2019. The GP focuses on software companies with average revenues of €5m.

The company plans to expand further into the US and Australasia following the investment.

Previous funding
In February 2018, NVM Private Equity backed the company with £3m in funding. NVM sold its VCT business to Mercia Asset Management in December 2019.

Scottish Enterprise provided a grant of £1.4m in January 2020.

Company
Headquartered in East Kilbride, Scotland, SHE Software is the creator of Assure, a software platform that is intended to help businesses to achieve and demonstrate health and safety compliance. Founded in 1995, the company also has offices in the UK, the US and New Zealand.

People
Frog Capital - Mike Reid (senior partner).
Mercia Fund Management - Charlie Winward (managing director).
She Software – Matthew Elson (CEO).

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