Member Article

Gateshead company secures £260k investment to develop risk and claims management app

A Gateshead-based company has secured a £260k investment to develop its breakthrough risk and claims management tool further.

Logincident is a mobile application which acts as both a risk and claims management tool for businesses. The app captures near miss and incident data across all major mobile platforms and can alert for instant action.

The user is guided to input near-miss and incident data using the device’s auto GPS location, auto time, camera, video, audio and text functions. The reports are then wirelessly uploaded and the app stores and aggregates data from multiple devices delivering it via a central dashboard, providing managers with access to critical information about an organisation’s incidents, accidents, potential claims and H&S performance over time.

Northstar Ventures provided the majority of the funding for this round (£200,000) via its Finance for Business North East Accelerator Fund, with the remainder being sourced from private investors. The deal was led by Irving Ramsay Limited.

The funding will help drive Logincident’s awareness and growth of its customer base as well as support the further enhancement of the product.

Gary Davison, co-founder of Logincident, said: “We have already had tremendous interest in Logincident and have been fortunate to secure a major client, the global facilities services company, OCS Group. OCS Group has been a supportive and collaborative client and has worked with Logincident on product development. OCS will be the first adopter of Logincident which will form part of its risk management processes.

“We also have a very strong development team headed by Brian Jobling, founder of North East based Eutechnyx, and the funding will enable us to expand our team and also help us focus on customer growth.

“Our first key hire has been that of Mike Ridley who has joined us as Business Development Director. Mike’s experience and expertise are already having an impact on the business.”

Rebecca Roberts, investment manager at Northstar Ventures, commented: “I am delighted to be working with Gary and his team, which is already expanding thanks to the investment.

“The app has the potential to help reduce injury to employees, clients and the general public which will be a huge benefit to all concerned. And of course it will also bring benefits to companies and their insurers.”

Mark Irving, Director at Irving Ramsay, added: “Gary and the team have worked incredibly hard to develop this innovative offering over the last couple of years so it’s very rewarding to see them close a round of funding which will now enable them to accelerate the growth of the business.”

The Accelerator Fund is backed by the European Investment Bank, the Regional Growth Fund and the European Regional Development Fund.

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