Leeds-based utilities and infrastructure software platform, Business Modelling Applications (BMA), has received a multi-million pound investment.
The firm, which provides intelligence for utility companies and asset-intensive infrastructure operators, has secured this support from specialist software, data and services focused growth investor, FPE.
Founded in 2013, BMA has developed Decisio, a proprietary decision intelligence platform which helps regulated, asset-intensive operators understand their assets and then plan and prioritise long-term capital investment.
BMA’s customers include UK water and energy companies, which use Decisio to model trade-offs across cost, benefit, risk and carbon as they prepare multi-year regulatory business plans.
With FPE’s support, the business will accelerate product and technology development, build out its executive team and invest in its go-to-market function to expand its presence across UK utilities and into other regulated infrastructure markets.
Michael Avant-Smith, CEO at BMA, said: “Our customers face increasingly complex investment and operational decisions under tight regulatory, financial, and decarbonisation conditions.
“Decisio™ gives them the tools to make those decisions with confidence. With FPE’s support, we will accelerate product innovation, strengthen our delivery capability and continue investing in the technology, people and expertise that help our customers achieve better outcomes.
“Our ambition is to build a truly differentiated, AI-native decision intelligence business for the infrastructure sector.”
Connor Trendell, investment director, FPE, said: “BMA is exactly the kind of business FPE is happy to support: a software platform delivering a high-quality customer experience to a highly referenceable customer base, addressing a critical market need and offering significant opportunities for future growth.
“We look forward to supporting them as they continue to scale the business.”
Tom Webb will join BMA as chief financial officer and chief operating officer. He will take leadership on the finance and operational functions, having worked in a number of private equity-backed businesses previously.
Rod Stout, BMA co-founder, will continue to work with the BMA and FPE teams as a board advisor.
A multi-office team of lawyers at Clarke Willmott acted for BMA, led by Elinor Owen, a partner in the firm’s corporate team. Also involved were corporate partner Simon Smith, Chris Connors (tax) and employment partner Kathryn Walters.
Stout said: “Clarke Willmott were fantastic to work with from start to finish. The team were always on hand when we needed them, their deal experience and pragmatic approach certainly helped us navigate the process with confidence.”
Owen added: “The Clarke Willmott team were pleased to act for the founders of BMA on the transaction which will allow the business they have grown and nurtured to date to continue to scale.”