Herald Investment Management

Herald Ventures is a venture capital firm based in London, specializing in development capital investments in early, mid, and late-stage unquoted companies within the technology, communications, and media sectors. Established in 1999, the firm focuses exclusively on companies located in the United Kingdom and typically invests between £0.25 million and £3 million per company, favoring minority stakes and seeking Board representation. Herald Ventures does not engage in investments related to biotechnology or pharmaceuticals and can act as a sole investor or collaborate with other firms in syndicate investments. It operates as a subsidiary of Herald Investment Management Limited, which manages multiple funds and emphasizes capital appreciation through investments in smaller quoted companies.

Fraser Elms

Fund Manager

Taymour Ezzat

Fund Manager

Katie Potts

Managing Director and Founder

Katherine Potts

Founder, Managing Director and Lead Fund Manager

24 past transactions

Cirata

Post in 2019
Cirata is a technology company specializing in collaboration software and data replication solutions. Founded in 2005, it has developed a suite of products designed to facilitate seamless data transfer and cloud migration with zero downtime or risk. Its flagship offering, WANdisco Fusion, ensures consistent data access across diverse environments, while LiveMigrator and LiveData Cloud Services support large-scale cloud migrations. The company also provides tools for data analytics and security, including Apache Hive for data warehousing, Apache Ranger for centralized security administration, and Apache Sentry for privilege enforcement. Cirata's patented Active Data Replication technology allows continuous access to data in real-time, enhancing operational efficiency for clients. The company has established strategic partnerships with major players such as IBM, Amazon Web Services, and Microsoft Azure, enabling it to serve Fortune 1000 companies globally. Headquartered in Sheffield, United Kingdom, Cirata has grown significantly since its inception, achieving a successful IPO in 2012 without external funding.

Attraqt

Post in 2015
Attraqt Group plc is a technology company based in London that specializes in e-commerce solutions, focusing on site search, merchandising, and product recommendation systems. The company offers a Software as a Service (SaaS) platform that enables online retailers to enhance their customer experiences through personalized search, navigation, and merchandising tools. Attraqt serves a diverse range of sectors, including fashion, homeware, electronics, and B2B retail, and its core product, the Fredhopper Discovery Platform, supports retailers in creating relevant and engaging shopping experiences. The company also provides retail insights, technical expertise, and project management services to ensure customer success. With a presence in several countries, including the United Kingdom, France, and the Netherlands, Attraqt is committed to empowering over 240 leading retail brands globally.

Green Plug

Series C in 2012
Green Plug, Inc. is a company focused on advancing the AC-DC power adapter market through innovative digital controller technology. Founded in 2006 and based in San Ramon, California, Green Plug offers a range of products, including the Green Power Processor and the Green Load Processor, which facilitate communication between power supplies and electronic devices. The company also provides Greentalk, an application layer API that supports power management and reporting, enhancing the efficiency of power use across various consumer electronics. By enabling real-time communication between devices and their power sources, Green Plug addresses the inefficiencies of traditional power adapters, which often contribute to e-waste and resource waste. The company's solutions promote uniformity in cables and connectors, allowing compatibility with multiple devices while minimizing wasted energy, including "phantom power." Through its offerings, Green Plug aims to revolutionize the way electronic products are powered, supporting both environmental sustainability and economic efficiency.

Celoxica

Venture Round in 2012
Celoxica Limited, based in Abingdon, United Kingdom, provides hardware-accelerated market data access and order execution solutions aimed at the financial services industry. Founded in 1996, the company specializes in ultra-low latency trading services, catering to the advanced trading community, including trading firms and banks engaged in high-frequency trading, market making, liquidity provision, algorithmic trading, and smart order routing. Celoxica offers a range of market data feed handlers covering major U.S. and European equities, options, futures, and foreign exchange markets. The company facilitates seamless connectivity for brokers and clients by managing inbound FIX, credit checks, and outbound native protocols to execution venues. With additional offices in Chicago and New York, Celoxica remains focused on meeting the growing demands for speed and efficiency in electronic trading.

Celoxica

Venture Round in 2010
Celoxica Limited, based in Abingdon, United Kingdom, provides hardware-accelerated market data access and order execution solutions aimed at the financial services industry. Founded in 1996, the company specializes in ultra-low latency trading services, catering to the advanced trading community, including trading firms and banks engaged in high-frequency trading, market making, liquidity provision, algorithmic trading, and smart order routing. Celoxica offers a range of market data feed handlers covering major U.S. and European equities, options, futures, and foreign exchange markets. The company facilitates seamless connectivity for brokers and clients by managing inbound FIX, credit checks, and outbound native protocols to execution venues. With additional offices in Chicago and New York, Celoxica remains focused on meeting the growing demands for speed and efficiency in electronic trading.

Green Plug

Series B in 2010
Green Plug, Inc. is a company focused on advancing the AC-DC power adapter market through innovative digital controller technology. Founded in 2006 and based in San Ramon, California, Green Plug offers a range of products, including the Green Power Processor and the Green Load Processor, which facilitate communication between power supplies and electronic devices. The company also provides Greentalk, an application layer API that supports power management and reporting, enhancing the efficiency of power use across various consumer electronics. By enabling real-time communication between devices and their power sources, Green Plug addresses the inefficiencies of traditional power adapters, which often contribute to e-waste and resource waste. The company's solutions promote uniformity in cables and connectors, allowing compatibility with multiple devices while minimizing wasted energy, including "phantom power." Through its offerings, Green Plug aims to revolutionize the way electronic products are powered, supporting both environmental sustainability and economic efficiency.

Natilik

Venture Round in 2010
Natilik is a provider of communication and technology services focused on assisting multinational organizations. The company specializes in consulting, designing, delivering, and optimizing solutions in five key technology areas: Collaboration, Networking, Security, Data Centre, and Connectivity. By offering products related to unified communications, collaboration, and contact centers, Natilik enables clients to enhance their internal and external communication on both national and international levels.

Jazz FM

Venture Round in 2009
Jazz FM plays the world’s greatest jazz, blues and soul, from the world’s greatest artists. We call it 'Listen in Colour'.They are the home of jazz, soul and blues. Their musical output is unique and is a mixture of truly eclectic new music and well known pieces by the legends of jazz, selected by the UK's finest presenters, each experts in their field.

Antenova

Venture Round in 2008
Antenova, Ltd. specializes in the design and supply of standard and custom antennas and radio frequency antenna modules. Founded in 1999 and headquartered in Stow-cum-Quy, United Kingdom, the company serves a diverse range of applications, including mobile handsets, adapters, portable devices, laptop computers, and various wireless devices. Antenova is recognized as a leading provider of high-performance antennas specifically for wireless machine-to-machine (M2M) and consumer electronic devices. The company has design, sales, and support centers in Taipei, Taiwan; Chicago, Illinois; and Shanghai, China, alongside manufacturing operations located in Taiwan and China.

CriticalBlue

Series C in 2008
CriticalBlue Limited, based in Edinburgh, United Kingdom, specializes in software analysis and optimization services. The company offers Prism, an embedded programming system, and has developed Approov, an application designed to protect digital assets from cyber threats, particularly in API channels. Approov enhances mobile API security by addressing various vulnerabilities and inefficiencies through a seamless integration into existing software infrastructures. Founded in 2001 and initially known as Adaptive Programmable Silicon Ltd., CriticalBlue has established itself within the technology sector, combining extensive experience in software development with dynamic runtime technologies to provide effective and efficient digital business protection solutions.

Enigmatec

Series D in 2008
Enigmatec Corporation Ltd. offers automation solutions for physical and virtual resource management. The company offers Execution Management System, an automation solution to implement run book automation solutions that describe the process of cataloguing, codifying, testing, and automating the manual, scripted, and ad hoc procedures used to manage information technology (IT) environments. It offers Enigmatec Virtual Orchestrator, which provides a self-service request user interface that automates IT workflows to provision, configure, allocate, and reclaim virtual resources; Enigmatec Automated Disaster Recovery that creates, deploys, manages, and monitors various aspects of disaster recovery operations; Execution Management System, a solution to automate repetitive scripted or manual tasks; and integrations and adapters for various commercial and in-house technologies. Enigmatec Corporation Ltd. also provides Cloud Lifecycle Management Solution that manages requests and resources that are sourced from internal source and acquired from the cloud. In addition, it offers Rapid Start Program for virtualization management, process audit, and training; and a range of courses, including introductory, intermediate, and advanced classes for developers, integration specialists, system administrators, and IT operators. The company was founded in 2002 and is based in London, United Kingdom with an additional office in New York, New York.

i-nexus

Venture Round in 2008
i-nexus is a company that specializes in developing and selling enterprise cloud-based software on a software-as-a-service basis, along with providing maintenance, support, customization, and professional consultancy services. Focused on strategy deployment and continuous improvement, i-nexus helps large organizations translate their strategic goals into actionable plans, ultimately driving results more efficiently. The company's solutions are built around industry best practices, including Hoshin Kanri and Lean methodologies, which have proven effective for enterprise readiness. Over 50,000 professionals use i-nexus to manage more than 150,000 programs globally, contributing to over $1 billion in realized customer value. The company operates primarily in the United States, as well as in the United Kingdom, Switzerland, Germany, and across Europe and other regions.

i-nexus

Series A in 2008
i-nexus is a company that specializes in developing and selling enterprise cloud-based software on a software-as-a-service basis, along with providing maintenance, support, customization, and professional consultancy services. Focused on strategy deployment and continuous improvement, i-nexus helps large organizations translate their strategic goals into actionable plans, ultimately driving results more efficiently. The company's solutions are built around industry best practices, including Hoshin Kanri and Lean methodologies, which have proven effective for enterprise readiness. Over 50,000 professionals use i-nexus to manage more than 150,000 programs globally, contributing to over $1 billion in realized customer value. The company operates primarily in the United States, as well as in the United Kingdom, Switzerland, Germany, and across Europe and other regions.

Celoxica

Venture Round in 2008
Celoxica Limited, based in Abingdon, United Kingdom, provides hardware-accelerated market data access and order execution solutions aimed at the financial services industry. Founded in 1996, the company specializes in ultra-low latency trading services, catering to the advanced trading community, including trading firms and banks engaged in high-frequency trading, market making, liquidity provision, algorithmic trading, and smart order routing. Celoxica offers a range of market data feed handlers covering major U.S. and European equities, options, futures, and foreign exchange markets. The company facilitates seamless connectivity for brokers and clients by managing inbound FIX, credit checks, and outbound native protocols to execution venues. With additional offices in Chicago and New York, Celoxica remains focused on meeting the growing demands for speed and efficiency in electronic trading.

Enigmatec

Series C in 2007
Enigmatec Corporation Ltd. offers automation solutions for physical and virtual resource management. The company offers Execution Management System, an automation solution to implement run book automation solutions that describe the process of cataloguing, codifying, testing, and automating the manual, scripted, and ad hoc procedures used to manage information technology (IT) environments. It offers Enigmatec Virtual Orchestrator, which provides a self-service request user interface that automates IT workflows to provision, configure, allocate, and reclaim virtual resources; Enigmatec Automated Disaster Recovery that creates, deploys, manages, and monitors various aspects of disaster recovery operations; Execution Management System, a solution to automate repetitive scripted or manual tasks; and integrations and adapters for various commercial and in-house technologies. Enigmatec Corporation Ltd. also provides Cloud Lifecycle Management Solution that manages requests and resources that are sourced from internal source and acquired from the cloud. In addition, it offers Rapid Start Program for virtualization management, process audit, and training; and a range of courses, including introductory, intermediate, and advanced classes for developers, integration specialists, system administrators, and IT operators. The company was founded in 2002 and is based in London, United Kingdom with an additional office in New York, New York.

Celoxica

Venture Round in 2007
Celoxica Limited, based in Abingdon, United Kingdom, provides hardware-accelerated market data access and order execution solutions aimed at the financial services industry. Founded in 1996, the company specializes in ultra-low latency trading services, catering to the advanced trading community, including trading firms and banks engaged in high-frequency trading, market making, liquidity provision, algorithmic trading, and smart order routing. Celoxica offers a range of market data feed handlers covering major U.S. and European equities, options, futures, and foreign exchange markets. The company facilitates seamless connectivity for brokers and clients by managing inbound FIX, credit checks, and outbound native protocols to execution venues. With additional offices in Chicago and New York, Celoxica remains focused on meeting the growing demands for speed and efficiency in electronic trading.

PrecisionPoint

Venture Round in 2006
PrecisionPoint Software, Ltd. specializes in providing business intelligence solutions tailored for Microsoft ERP applications, including Dynamics AX and Dynamics NAV. Founded in 2002 and headquartered in Bracknell, United Kingdom, the company offers the PrecisionPoint Business Warehouse, which supports financial reporting, sales analysis, supply chain and inventory analysis, and profitability analysis. This platform enables businesses to gain insights and visualize transactional data, helping them identify trends, opportunities, and challenges. In addition to its main office in the UK, PrecisionPoint has a presence in Waltham, Massachusetts, and maintains sales and support offices in Johannesburg, South Africa, as well as in New Jersey, California, and Texas. The company was formerly known as AnalySoft Development, Ltd. before rebranding in November 2006.

CriticalBlue

Series B in 2006
CriticalBlue Limited, based in Edinburgh, United Kingdom, specializes in software analysis and optimization services. The company offers Prism, an embedded programming system, and has developed Approov, an application designed to protect digital assets from cyber threats, particularly in API channels. Approov enhances mobile API security by addressing various vulnerabilities and inefficiencies through a seamless integration into existing software infrastructures. Founded in 2001 and initially known as Adaptive Programmable Silicon Ltd., CriticalBlue has established itself within the technology sector, combining extensive experience in software development with dynamic runtime technologies to provide effective and efficient digital business protection solutions.

Sphere Medical Holding

Venture Round in 2006
Sphere Medical Holding plc develops and sells medical monitoring and diagnostic equipment in the United Kingdom, Europe, and Japan. The company offers Proxima solution for measuring blood gases, electrolytes, and metabolites for ill and unstable patients. The company was formerly known as Sphere Medical Holding Limited and changed its name to Sphere Medical Holding plc in November 2006. Sphere Medical Holding plc was incorporated in 2001 and is based in Cardiff, the United Kingdom.

Celoxica

Venture Round in 2005
Celoxica Limited, based in Abingdon, United Kingdom, provides hardware-accelerated market data access and order execution solutions aimed at the financial services industry. Founded in 1996, the company specializes in ultra-low latency trading services, catering to the advanced trading community, including trading firms and banks engaged in high-frequency trading, market making, liquidity provision, algorithmic trading, and smart order routing. Celoxica offers a range of market data feed handlers covering major U.S. and European equities, options, futures, and foreign exchange markets. The company facilitates seamless connectivity for brokers and clients by managing inbound FIX, credit checks, and outbound native protocols to execution venues. With additional offices in Chicago and New York, Celoxica remains focused on meeting the growing demands for speed and efficiency in electronic trading.

Info

Series A in 2004
Info.com Inc. operates as a meta-search engine that aggregates results from various popular search engines, such as Google, Yahoo!, Bing, and Ask. The platform provides users with a comprehensive range of information, including research content, employment opportunities from diverse job boards and career pages, and travel details from online travel sites. Additionally, Info.com offers access to images from publisher libraries, videos from prominent providers like YouTube and CNN, and news from various sources. The site also facilitates online comparison shopping to aid in purchase decisions and provides health information sourced from medical websites, including specialist reports. Furthermore, it features classified listings for automobiles, pets, rentals, and used items. Established in 2004 and headquartered in Chicago, Illinois, Info.com aims to streamline the search experience by delivering diverse content in a user-friendly format.

CriticalBlue

Series A in 2003
CriticalBlue Limited, based in Edinburgh, United Kingdom, specializes in software analysis and optimization services. The company offers Prism, an embedded programming system, and has developed Approov, an application designed to protect digital assets from cyber threats, particularly in API channels. Approov enhances mobile API security by addressing various vulnerabilities and inefficiencies through a seamless integration into existing software infrastructures. Founded in 2001 and initially known as Adaptive Programmable Silicon Ltd., CriticalBlue has established itself within the technology sector, combining extensive experience in software development with dynamic runtime technologies to provide effective and efficient digital business protection solutions.

Commerce Decisions

Series B in 2003
Commerce Decisions delivers proven software – AWARD, best practice knowledge and expert services to assist sourcing projects through-life; from preparation, qualification, evaluation, negotiation to continuous supplier performance review and contract compliance. AWARD software provides a central web-based information and process & infrastructure enabling project teams to collaboratively make major contract decisions and monitor subsequent performance. It is proven to significantly increase contract value and reduce risk and used in projects totalling over £150 billion to date. AWARD is available in the UK via a number of routes, including CCS frameworks. Commerce Decisions customers include the Department for Transport, DWP, Defra, Transport for London, NHS, the UK Olympic Delivery Authority, the British Broadcasting Corporation, defence contractors and the UK and Finnish MOD.

Bango

Venture Round in 2002
Bango plc is a technology company that specializes in enabling mobile payments and marketing for content and services aimed at mobile phone users. Established in 1999 and headquartered in Cambridge, UK, Bango operates through two main segments: End User Activity and Data Activity. Its flagship product, the Bango Payment Platform, facilitates direct billing connections for app stores and content providers with mobile operators globally, allowing them to offer seamless payment solutions. Additionally, Bango Marketplace assists developers in targeting specific customer audiences, while Bango Resale supports merchants in customer acquisition and retention through global partnerships. The company also offers Audiens, a mobile data exchange platform. Bango's services are utilized by major global stores, including Amazon, Google, Samsung, and Microsoft, and the company has a presence in regions such as the United Kingdom, European Union, United States, and Canada.
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