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hedgehog lab

Bio

hedgehog lab is a technology company focused purely on app development, working with premium brands including Thales, The Financial Times, Channel 4, Mitsubishi and Microsoft HoloLens. The business develops a wide variety of apps used across a variety of devices and platforms, including smartphones, tablets, desktops and wearables. 

Deal size

£900,000

Region

Newcastle

Funding need

Growth Stage

Sector

Software

hedgehog lab has already built an impressive fan base of clients through their ability to build compelling digital experiences. I am really excited to be joining them as they continue to deliver engaging digital products with more clients across various international markets and grow their digital expertise

Charles Andrews
Chairman of hedgehog lab

Growth Journey

Founded in 2007 by CEO Sarat Pediredla and Mark Forster, who between them have nearly 40 years’ experience as software developers, hedgehog lab’s revenues have grown significantly in recent years and the company now employs 120 people. The business is headquartered in Newcastle, and has five other offices across the world including the US, India and Denmark.

The firm secured funding previously from Maven back in 2017 during which time hedgehog lab’s global footprint has also gone from strength-to-strength in the following 12 months with its US business now contributing nearly 25 percent of the group’s revenue having grown revenues around 300 per cent in the past year.

The subsequent investment from the North East Development Capital Fund has enabled the business to target doubling its growth again over the next two years. Underlining the tech firm’s ambitions, they have also unveiled a new management team that will drive its ambition to double revenue to £10m by the end of 2021 by supplementing their current team with experienced professionals who have a track record of scaling rapidly growing businesses.

 

Could the North East Development Capital Fund help support your growth journey?

If you’re running a North East business that’s looking to grow, we’d love to hear from you. Feel free to give us a call to find out more about our flexible funding solutions: 0191 731 8590

 

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