Dundee-based tech firm Waracle has secured a bumper £4.8 million investment to support its long-term growth ambitions.

The funding, which comes from investment firm BGF, will be used to support the company’s organic expansion, broaden its geographic reach and continue its digital product development.

Duncan McIntyre, Chair of BGF-backed Helecloud, has also been appointed non-executive Chair following an introduction from BGF’s Talent Network, the UK’s largest pool of non-executive directors.

Commenting on the funding announcement, Waracle CEO Chris Martin said: “We’ve built a fantastic business over the last 12 years, investing in great talent and building long-term partnerships with some of the UK’s most recognisable brands.

“We’ve now identified the right partner in BGF, with a great team that understands and supports our growth strategy. BGF’s expertise, coupled with Duncan’s knowledge and experience, will be invaluable as we enter this next stage of our growth.”

Waracle is one of the UK’s largest mobile app developers, designing and managing mobile apps and other digital products. The firm works with a host of the country’s biggest organisations across a range of sectors, including fintech, digital health and energy.

Founded in 2007, the business has scaled across Scotland with 140 employees working out of offices in Dundee, Edinburgh and Glasgow.

Waracle recently announced several new hires at its London office to further support businesses based in the capital. April this year also saw Waracle acquire Dundee augmented reality firm Mozenix.

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Richard Pugh, an investor at BGF, said: “We’re delighted to welcome Waracle to the BGF portfolio, a business which has cultivated a fantastic reputation with a rapidly-growing blue-chip client base and is supported by a great team that we’re looking forward to working with.

“We’re also proud to make our first investment here in Dundee, an important part of the country for BGF and a hub of innovation and talent across a number of sectors that we are keen to work with in the future.”