Veeqo raises £500,000 to accelerate business growth
Swansea-based tech firm Veeqo, which creates software for online sellers, has received £500,000 in government funding to accelerate business growth.
Thanks to Welsh Government funding, the company has been able to secure three new high-profile hires from the likes of billion-dollar tech companies and as far away as New York, London and Berlin.
The news marks a year of rapid growth at the company. In December 2016, it raised £1.2 million in seed funding, following a previous round of £2.5m secured via Seedrs.
As a result of this funding boost, Veeqo has been able to hire 20 new employees over the past 12 months, and it’s planning to create an additional 168 jobs over the next three years.
Cerys Davies is one of the firm’s latest additions. Heading up human resources, she relocated to Swansea after spending the previous 12 years in New York leading the North America HR department for internet giant Trustpilot.
Meanwhile, Tom Weeks has been appointed to lead global sales and will be a key player in helping commercially expand Veeqo into a variety of markets, including heading into the US.
Previously, he spent four years at tech heavyweight Ve Interactive. Here, he played a major role in establishing it as one of the first British tech companies to be valued at over $1bn.
Mark Robertson is the company’s third high-profile hire. Now leading channel sales and strategic partnerships, he previously worked for BCSG where he helped it become one of only 13 companies to be listed on the Sunday Times Tech Track 100 three years in a row.
Matt Warren, CEO of Veeqo, believes that this news is a big milestone for his firm and the Welsh technology. “I’m really proud that we’ve secured this world class tech industry talent to join Veeqo in Wales,” he said.
“Outside the main startup areas like Silicon Valley and London it is more challenging to find the right talent as we scale the company, but this proves it can be done and I am really excited about the future.
“I’m delighted about being able to bring Mark, Cerys and Tom to Veeqo. Their experience and abilities are a fantastic addition to our team and will no doubt help drive us forwards flying the flag for Welsh tech startups.”
Economy Secretary Ken Skates said: “We are pleased to support the expansion of Swansea based Veeqo. This innovative creative digital company is at the forefront of the E-commerce revolution.
“And we are proud to see its continuous growth worldwide. The company is due to create over 180 high quality jobs in the Swansea region and I look forward to their ongoing success.”