US Software Firm Looks to Capitalise on Dundee Tech Boom
Dundee’s waterfront redevelopment receives another massive boost as US-based Cherwell Software announces the opening of a new research and development facility.
All along Dundee’s waterfront, the scenery is changing; a city undergoing change and forging a reputation as a focal point in a nation cultivating a vibrant tech scene.
US software company, Cherwell Software, appears to be buying into the hype after opening its European research and development centre in Dundee One, located along the revitalised banks of the River Tay. The firm, which provides digital consultancy services to organisations in over 40 countries, will initially employ 16 staff members – with more to come.
The firm already has a presence in Europe with offices based in Swindon, Reading and Munich. However, these offices are primarily focused toward sales and customer support. The research and development facility in Dundee will look to tap into the flourishing technology scene in the city.
For Cherwell Software, this marks a landmark moment. The Dundee centre will be the company’s first international office outside of Colorado Springs and could prove to be a valuable location as the firm looks to continue expanding.
Chief product officer, Steve Rodda, said: “Our business is expanding rapidly across the globe and experiencing dramatic growth in Europe and Asia. As a company, we’re investing 23% of revenue in R&D.”
Cherwell’s has seen a monumental rise in the last several years. In the past two years, the US-based firm has received around $220 million from investment firm, KKR, as part of its Next Generation Technology Fund.
Dundee in Change
Operating in a market expected to be worth $30 billion by 2020, Cherwell’s addition to the Dundee technology scene is a strong indicator that both the city and the country at large is attracting significant players from across the global tech scene.
Dundee’s tech sector, according to Dundee City East MSP, Shona Robison, is worth a staggering £200 million and is expected to grow. Commenting on the addition she said: “This is another step in the transformation of the waterfront as a European hub of industry and tourism.”