A Northampton-based provider of specialist education IT services is set to create five new jobs after landing a £90,000 boost from Enterprise Loans East Midlands (ELEM), through a Small Business Loan from the Midlands Engine Investment Fund (MEIF).
Overnet Data, founded in 2008, offers an integrated single information platform called Edulink One that can be accessed via a web browser or app by all users including staff members, students and parents.
There are currently 250,000 users of Overnet Data’s platform across schools and colleges in England and Wales. Alongside new recruitment, the funding will enable the business to continue developing its software and bolster its support system.
Anthony Wright, founder of Overnet Data, said: “I could see that schools across the country were having to manage numerous systems and platforms when it came to day-to-day admin.
“I therefore set up Overnet Data to create a streamlined and more effective way of working. The service can be used by staff members, parents and students in a way that is easy to access and, importantly, at an affordable price.
“Thanks to the funding and support we’ve received from Enterprise Loans we’re now in a place where we can expand further and double the size of our team.”
Matthew Wright, business advisor at Enterprise Loans, said: “The service Anthony provides with Edulink One is like nothing else on the market and his unique position and business sense means his firm was already blossoming by the time he approached us.
“In the last year, Overnet Data has seen rapid growth in a number of locations, with over 50 per cent of secondary schools in some local education authorities now using Edulink One.
“Therefore, it’s unsurprising he’s looking to expand his business and the team, so I’m delighted that we’ve been able to further assist Anthony and look forward to watching Overnet Data continue to go from strength to strength in the coming months.”
Lewis Stringer, senior manager at the British Business Bank, said: “It’s great to see businesses in the East and South-East Midlands still expanding and MEIF fund managers investing in the current economic environment. We’d encourage any SMEs in the region looking for funding to consider the options available through the fund.”
Hilary Chipping, SEMLEP chief executive, said: “Helping businesses to expand and grow through access to funding is crucial for a successful economy. It is great to see the Midlands Engine Investment Fund support a local business with such as unique proposition to create new job opportunities, especially at this time.”