Chicago-based SHE Software Raises USD 9 Million in Series B Round of Financing

The company's edge cloud computing-based mobile-first platform has transformed the corporate take on EHS management. SHE Software has been rapidly developing its client base with over 250 organizations and has also been developing a strong partner network in the U.S.

Fremont, CA: Environmental, Health, and Safety (EHS) management software developer SHE Software has secured USD 9 million in Series B round of financing participated by Frog Capital and Mercia Asset Management PLC. The investment is a testimonial to SHE Software's strong North American market positions. The funds raised will help the company to spearhead further growth by building on the momentum it has generated over the last two years. SHE Software also plans to increase its headcount to expand its global talent pool by 60 and develop the skillset of its existing team.

"SHE Software has played a critical role in helping develop the EHS management software industry having pioneered digital innovation for over 20 years. From our dominant position in the U.K. and Europe, we are now focused on further scaling operations in North America. Our customers are individuals who deal with complex and dispersed operations where the more traditional approach to managing health and safety is no longer adequate. We typically help customers produce ROI paybacks within 12 months by improving EHS efficiencies and increasing engagement top-down, bottom-up," said Matthew Elson, CEO of SHE Software.

The company's edge cloud computing-based mobile-first platform has transformed the corporate take on EHS management. SHE Software has been rapidly developing its client base with over 250 organizations and has also been developing a strong partner network in the U.S.

"SHE Software's deep understanding of environmental, health, and safety challenges, and how modern software engagement can transform attitudes and address key EHS issues has impressed the Frog team a great deal," said Mike Reid, Senior Partner at Frog Capital.

Over the last 12 months, SHE Software has secured over 80 customers and also seen a 54 percent increase in orders. The Software as a service (SaaS) firm has continued to add innovation to its flagship product, Assure, most recently launching a Business Intelligence feature that allows its corporate users to identify trends, track leading indicators, and predict where preventative interventions will be most effective.

"We are pleased to continue our support of SHE Software and welcome Frog Capital in this new funding round. SHE Software has made considerable progress in the EHS sector, and this syndicated round positions it well to continue its growth over the next few years and further build out its presence in the U.S. market. SHE Software exemplifies the benefits of the Northern VCTs' approach to identifying and investing in technology firms. By combining our commercial and sector expertise with exciting opportunities and talented teams, we are seeking to build successful firms to create medium-term incremental shareholder value," said Charlie Winward, Managing Director, Northern Venture Capital Trust (VCTs) Funds at Mercia.

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