Mercia Fund Management portfolio company Concurrent Thinking has received £400,000 of funding from Finance Birmingham to develop a software application aimed at lowering the running costs of data centres.
The Concurrent Command software will work by improving data centres’ energy use and operational efficiency.
The investment has created a number of jobs and will be used to develop the growth of the business as well as increase its marketing activity.
Concurrent Thinking has received a further £400,000 from existing investors including: The ERA Foundation, The Carbon Trust, Forward Group and Midven.
A subsequent funding round will be completed within the next six months.
Concurrent Command is a suite of intuitive software tools designed to reduce overheads in power and cooling, improve IT utilisation, and ensure best practice operations. The application allows customers to measure their return on investment from the application in a matter of months.
Terry Hale, CEO of Concurrent Thinking, said: “With the ever increasing reliance on IT, cloud based solutions and the trend towards activities such as internet shopping, the demand on data centres is rapidly increasing.
“Operators are therefore facing pressure to reduce operating costs and optimise server activity.”
Ian French, investment executive at Finance Birmingham said: “We believe Concurrent Thinking has a strong future and we hope that this example will inspire other entrepreneurs to come forward for funding.
“It is an innovative company which has a first class product offering and fits with many key criteria included within the Birmingham Business Charter for Social Responsibility – their green and sustainability commitment is a particularly notable factor.”