- New contracts signed with organisations including Go Compare and Bridgend Council.
- Fresh seed capital injection secured from Welsh investors.
- Team expansion – appointment of key staff for sales, marketing and customer service.
L-R: Mark Hindmarsh (Director, Smart Anchor Ventures); Ashley Cooper (Director, Catalyst Growth Partners); Warren Fauvel (CEO and Founder, Nudjed); Professor Chris McGuigan (Chair, Life Sciences Hub); James Henderson (Technology Seed Fund Manager, Finance Wales)
Nudjed, the workplace health and wellbeing solution provider, today announced that it has closed an additional £100,000 in seed funding to further accelerate the company’s growth and customer success. The investment was led by Catalyst Growth Partners, with participation from serial biotech entrepreneur Professor Chris McGuigan and existing investors Finance Wales and Smart Anchor Ventures. To date the company has raised a total of £275,000 excluding early grant provision support from the Welsh Government’s Digital Development Fund.
Nudjed’s CEO and Founder Warren Fauvel says: “We’re delighted to have secured this new funding from a number of prominent investors, all of whom add huge value to our company. The new funds will enable us to expand our science and product teams, and will help us to consolidate our Intellectual Property. We’ve already hired a new Business Development Manager to convert our growing sales pipeline, a Customer Delivery Manager to build customer success, and a Marketing Manager that will help build market brand awareness.”
Nudjed, based in Cardiff, are fast becoming one of the success stories of the South Wales tech cluster. The company was recently named in this year’s ‘Tech Nation Report’ as a notable start-up success, and was also nominated as one of the Digital 2015 ‘Digital Dozen’ top companies to watch in Wales. Following the appointment of an experienced Board of Advisors at the start of the year, the Nudjed management team have delivered a plan that has enabled the company to go from strength to strength.
Professor Chris McGuigan, the co-founder of several hugely successful businesses, is the Chair of the Life Sciences Hub in Cardiff Bay, and Professor of Medicinal Chemistry at Cardiff University. He said of the opportunity to invest: “I am delighted to help support the further expansion of Nudjed. With their unique offering and wonderfully dynamic management they seem to me certain to establish themselves as a key player in the workplace health and wellbeing sector.”
Ashley Cooper, Co-Founder and Director of Catalyst Growth Partners (CGP), a high growth business accelerator focused on working with positive people and innovative businesses in driving structured growth, says that the decision to invest in Nudjed by the Directors of CGP was driven by four key factors. “Nudjed has a great founder and team, a really innovative product that the market needs, great growth potential, and is a business where we can add significant value to the strategic direction and growth. We are very excited as to what the future holds for Nudjed, and are delighted to be involved.”
Finance Wales’ seed investment in Nudjed last year was the first investment from the Wales Technology Seed Fund, and enabled them to develop their product. Commenting on Nudjed’s second seed investment round, Technology Seed Fund Manager James Henderson said: “Nudjed has made impressive progress since we invested last year. They have developed their product, won new contracts and made some key appointments. Attracting high-calibre investors in this second seed investment round clearly demonstrates Nudjed’s potential, and they are now well placed to capitalise on their achievements as well as the growing health tech market.”
“Having worked with Nudjed over the last 12 months we’re very excited about the amazing momentum the company is experiencing and believe that with this additional funding the company can develop faster,” said Mark Hindmarsh, Director, Smart Anchor Ventures. “Nudjed is redefining the way organisations engage with and educate their workforces when it comes to health and happiness.”
As well as the new round of seed funding, Nudjed’s methods for measuring and improving the health of organisations have attracted some big names to their client list, including GoCompare, Bridgend Council and OSTC. Julia Richards from GoCompare says: “We signed up with Nudjed as we were impressed with their enthusiasm, and their passion for health and wellbeing matches our commitment to our staff. From the off-set they were always on hand and able to provide bespoke communications and materials to support the roll out to our team. They work with us very closely to ensure that our staff are getting the most out of the service, and as such we are able to better understand the needs of our staff and further improve our staff offerings. It’s refreshing to work with such an enthusiastic group of people who really care about what they do.”
Notes to editors:
Nudjed was founded by Neil Atherton (a scientist) and Warren Fauvel (a designer), who combined their expertise to create a service that uses intelligent technology and behavioural science to help users achieve health, fitness and weight loss goals through a step-by-step series of personal challenges.
Press resources for Nudjed – including logos, founder photos, company infographic and video – are available online at nudjed.com/press
For further Nudjed press information, contact: