Glasgow-based tech startup Frog Systems has secured a significant funding boost from several blue-chip investors.
The majority of the £500,000 investment has come from Sir Rod Aldridge, who is chair of the Aldridge Foundation and founder and former chair of Capita Group, with the balance coming from existing investors and four new investors.
Frog says the money will be used to finance the recruitment of new staff, including a sales and service team to lead the company’s expansion over the next 12 months.
The funding boost will also enable the firm to release its online mental wellness platform across a range of sectors, including corporate, financial and professional services, higher education, housing, arts, sport and membership and governing bodies.
Last month Sussex Cricket became the first firm to roll its own mental wellness platform using Frog System’s technology, linking the club directly with hundreds of thousands of people across the county.
Commenting on the news, Aldridge said: “Mental and physical illness does not discriminate. Each one of us is touched by it at some point in our lives and the current pandemic has exacerbated this situation.
“The innovative technology developed by Frog which is a free, online resource, uses the power of video to encourage taking the first step in seeking early support – providing a bridge between citizen and service provider.”
DIGIT’S 2021 #virtualevents calendar:
📅 #MarTech Summit https://t.co/JkViHnOzbF Wed 24 Feb
📅 ScotSecure #CyberSecurity Summit https://t.co/JaD886wGh9 24/ 25 Mar
📅 #DigitalEnergy Summit https://t.co/thGSfrBqlM 22 Apr
📅 DIGIT #Leader Summit https://t.co/alC1xjRvtW 26 May pic.twitter.com/XXGqh5Braw
— DIGIT (@digitfyi) January 18, 2021
Frog Systems’ platform allows users to hear from people sharing their personal experiences of overcoming life’s challenges. It also directs them to relevant support including services in their area.
The tech generates real-time anonymised statistical data enabling an organisation to provide positive and timely response to key issues.
Frog Systems’ technology has more than one benefit, providing the end-user with “encouragement and inspiration” when beginning to start their journey to “overcome their challenges” with the right support, whilst the organisation has access to Frog’s real-time anonymised data sets, gaining early insight into the potential levels, and types of, issues that may exist within it.
Around £1.8 million has been invested by Frog in developing “an IT platform that is both scalable along with offering the ability to fully customise solutions to a client’s particular circumstances or requirements”.
- UK supreme court rules Uber drivers are workers
- Bayes Centre unveils startups for EIE21 tech investor conference
- The future of data-driven medical training with Virti’s Dr Alex Young
Chair of Frog Systems Nick Kuenssberg said: “Having achieved a robust scalable platform, Frog is now well-placed to demonstrate its unique capabilities in partnership with any organisation with a duty of care towards its staff, membership or customers.
“This funding allows the company to make a real difference to society at a time when mental health and wellbeing are top of most people’s agenda.”
From Systems saw a major boost of success in 2020, being announced as the winning start-up following a live digital pitch of its technology the Edinburgh-based Start-Up Summit.