Welsh tech solutions company expands following £160K investment
A Cwmbran-based technology company has announced new expansion plans after raising £160K in investment.
Hudmans Solutions, which offers affordable business management and accountancy software, is to aid growth over the next few years with funding from Finance Wales.
Another £10K has been invested into the company by directors Paul Driscoll, David James and Ben Stephens. Some of the money will go towards hiring new staff.
The company is headquartered at Cwmbran’s Springboard Business Innovation Centre, which was set up by Torfaen County Borough Council and Welsh Government to support and grow local tech companies.
Hudman Solutions, which was formed in 2006, specialises in providing small and medium-sized businesses with innovative software solutions.
Paul Driscoll, commercial director at Hudman, said this latest investment round means the company can expand and hire even more staff over the next few years.
“This significant investment from Finance Wales has allowed us to bolster our team and means we can strategically plot our growth over the next two years, as well as adding a further 18 employees by 2019,” he said.
“Our immediate priority is to promote our award winning Enterprise Resource Planning software as an affordable alternative to existing software packages that have traditionally cost businesses tens of thousands of pounds every year.
“We can offer the same levels of service at a fraction of the cost, making our product an ideal alternative for small to medium sized businesses who want to work smarter and more effectively.”
Dr Philip Barnes, the Finance Wales investment representative who led the deal, said: “Hudman have developed an impressive client base for their Software-as-a-Service products and we are pleased to offer the investment required to support their continued growth.
“Their cloud software and ongoing customer support is revolutionising the way businesses think about their software systems. They are able to offer a cost-effective alternative to systems that may previously have cost hundreds of thousands of pounds up front.”
Councillor Lewis Jones, who runs regeneration at Torfaen council, said: “Hudman has gone from strength to strength since they joined us at Springboard.
“I am delighted that the support they have received here in Torfaen has enabled them to grow, and now we are seeing the long term benefits with much needed quality jobs being created for local people.”