Promapp snaps up growth grant worth up to $5 million
Promapp Solutions has been awarded a research and development (R&D) Growth Grant by Callaghan Innovation.
The grant, which was designed to help organisations add scale and have a greater market impact, will provide up to $5 million per year with additional funding for a further two years available on review.
Promapp is a provider of cloud-based business process management (BPM) software for creating and managing business processes online.
The company has a history of innovation and investment in R&D, and this has led to the growing success of the company both in New Zealand and Australia and its international expansion to the United States, with the opening of the company’s first US office in San Francisco in 2015.
With the grant, Promapp plans to increase its development team and amp up global market expansion plans.
Promapp primarily offers business process mapping software which enables process improvement, quality assurance and risk management, in line with ISO, Six Sigma and Lean principles.
The software is designed to replace hardcopy procedures manuals, and makes processes simple to document, easy to use and maintain.
The company says this supports the development of smarter and safer ways of working, while encouraging sharing of information by operational teams rather than limiting it to process analysts and technical specialists.
Ivan Seselj, Promapp CEO, says, “We are delighted that Promapp has been approved for R&D funding by Callaghan Innovation.
“It’s a great honour and the grant will allow us to add scale to our R&D investment enabling us to increase our development team by 50%.
“This will support and accelerate the evolution of our products, enabling us to add new functionality and features for our customers.
“Product innovation is key to our global market expansion plans. Following the successful signing of clients in the United States and the appointment of a major consulting partner, who will support our channel expansion in the US market, we intend to increase the Promapp sales team by more than 35%.
“This sales strategy will see Promapp continue to expand globally and extend our reach into new markets throughout 2016,” Seselj says.
Callaghan Innovation says, businesses today are operating in an ever changing and ever more competitive environment. Organisations are investing more than ever in change, in technology, and in their people in an effort to secure and retain a competitive advantage.
Promapp's new and social cloud-based approach is producing real results for organisations and delivering that advantage.