Software & SaaS


A digital performance company, with accelerated revenue, winning clients winning new clients for its bot management product, Netacea. Its virtual waiting room product for e commerce businesses has also gained traction winning deals with major national retailers.

Netacea was identified by Forrester as “leading the pack” in the sector.


The business has demonstrated rapid growth in both the US and Europe, with recurring revenues having increased over 450% since initial investment. Customers include many of the world’s best-known consumer brands – Kimberly-Clark, Unilever, Mars, Mondelez, and AB InBev. With investment from both Mercia’s balance sheet and the Northern VCTs in September 2019, Voxpopme illustrates the synergies between the funds even prior to the acquisition in December 2019.

Clear Review

Clear Review is a SaaS business providing HR management tools. HR technology remains an exciting sector indicative of the overall momentum of Clear Review, passing its key revenue milestones in annual recurring revenue in December 2019,

Mercia first invested in Clear Review in 2018 through its managed funds and provided an initial £0.5million direct equity investment alongside co-investor Albion VCT in June 2019.

  • The team

    Matt Mead – Non-Executive Chair
    Warren Russell – CEO