A NEWCASTLE-BASED venture capitalist is investing £100,000 to support the growth of a digital company with offices on Tyneside and Essex.
The money from Middleton Enterprises will be used by Beyond Digital Systems as it bids to grow its share of the digital signage market, providing information, messages and advertising to clients’ customers and staff.
The company, which started in 2000 as Icion Systems and rebranded as Beyond Digital Systems last year, is headquartered in Jarrow and also has an office in Harlow, Essex. It currently employs nine people working on contracts for customers ranging from estate agents to corporate buildings.
The company is keen to expand into the international car showroom market and increase its work with fast-food restaurants.
Its systems, which range from simple, one-site options to complex networks covering a multitude of sites, allow companies to easily update information.
Middleton Enterprises, run by insurance and maintenance giant HomeServe co-founder Jeremy Middleton, decided to support the company because of its high growth potential.
Mr Middleton said: “It has an experienced management team in place, which has put together a solid strategy for the business’s expansion and I envisage these qualities, together with its service excellence and innovative product, will enable Beyond Digital Systems to develop its marketplace.”
Beyond Digital Systems managing director Louise Richley said Mr Middleton’s investment was part of a raft of funding which would support the company’s plans to expand.
“We have established a track record of providing our services to a range of sectors and believe that there are substantial opportunities for us to broaden our customer base further,” she said.
In addition to the cash investment, Middleton Enterprises will also provide business advice to the company.
Middleton Enterprises specialises in investments in North East start-ups, property and listed equities. Its net asset value and associated businesses were worth £55m at the end of 2009.
It works as a minority investor in firms including Ethical Superstores Ltd, the UK’s largest ethical online retailer, and Tanfield Foods, based in Consett, which supplies gourmet food-to-go to customers including Tesco.
Mr Middleton recently upped his investment in North Tyneside’s D-Line, which provides trunking to hide wires and pipes in buildings, bringing his funding for the business to £160,000 since 2006.
In addition to Beyond Digital Systems, Mr Middleton has invested in nine North East firms since moving into venture capital five years ago.
