Glasgow-based specialist workforce optimisation software provider, Corporate Modelling Services Ltd (CMS), has secured £750,000 in equity funding from the Investment Fund for Scotland (IFS), managed by Maven Capital Partners and delivered by the British Business Bank.

CMS helps clients to transform their back office operational efficiency and improve the ultimate end customer experience through the implementation of a suite of workforce optimisation technologies, delivered through its platform OPX.

The software currently supports organisations with multiple tools including task allocation and employee time analysis, to enhance customer operations.

Today’s transaction will allow the business to invest further in its platform, enhancing its capabilities and building out further AI functionality into its modular software suite.

Funding will also support its growing sales function to service global operators, including current opportunities in the US, as well as embarking on a number of strategically significant international partnerships to expand its customer research.

“CMS has built an impressive platform that can transform many businesses across different industries,” Craig McGill, investment manager at Maven said.

“Alex and the senior team are all highly driven, experienced individuals with a genuine entrepreneurial focus and we look forward to supporting the business as it enters this exciting next phase of growth.”

Alex Allan, CEO at CMS, said: “I am delighted to be working with Maven.

“We didn’t want a passive investor and it was clear from the early conversations with Craig and the team at Maven that their market experience and contact base will help accelerate our growth, which in turn will allow us to deliver better customer experience, accelerate our AI technology roadmap and develop new markets.”

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This marks the seventh investment made by IFS Maven Equity Finance, demonstrating Maven’s strong track record of identifying and nurturing high-potential businesses, and the opportunity in Scotland to drive innovation and growth.

The Fund has also backed 3D printed micro-tumour specialist, Carcinotech and Glasgow University spinout Nami Surgical.

The £150m IFS covers the whole of Scotland and provides loads from £25,000 to £2m and equity investment up to £5m to help a range of small and medium sized businesses to startup, scale up, or stay ahead.

“The Investment Fund for Scotland was set up to support a nation of entrepreneurs, reflecting the critical role access to finance plays at every stage of their journey,” Mark Sterritt, director, nations and regions funds, at the British Business Bank, said

“Technology continues to be a high-growth sector for the Scottish economy and CMS is a great example of a business using specialist software to help companies all over the world to work more effectively and efficiently. We look forward to playing a part in the firm’s future growth.”