A Guildford business specialising in the provision of digital mapping and transport data solutions to both the public and private sector is set to grow with the help of an Enterprise M3 Expansion Loan after establishing itself as the market standard in its field.
Started in 2000, Basemap was the distributor of a third party transport accessibility solution, providing information to clients that included the Department for Transport (DfT). But as this system began to no longer meet the requirements of its clients, Basemap decided to develop its own improved solution.
TRACC, launched in 2013, is now recognised as the market leading travel time analysis solution. It has already been adopted by the DfT, local authorities, the NHS and by transport planners across the UK, Sweden and Ireland, as well as a range of private sector organisations. TRACC helps them to make informed decisions such as optimal siting of key services, supporting planning decisions and measuring the impact of major transport infrastructure projects.
Continuing to innovate its offering to support the needs of its clients, Basemap has recently launched Highways Analyst, a web tool to manage Trafficmaster data.
This data, which contains average driving speeds on major roads throughout the UK, is purchased by the DfT and shared with local authorities to be used by traffic calming officers, network analysts and transport planners within highways departments to inform their transport strategies. However, up until now there has been no way to manage this data easily and efficiently.
Basemap Chief Executive, Steve Swindon, says: “Our clients tell us that the introduction of Highways Analyst has turned onerous data analysis tasks, which could take them many hours, into a simple process taking only minutes, or in some cases, just seconds. We are excited to now be at a stage where we can really focus on growing the business as there is so much potential, not only in TRACC and Highways Agency but also our other digital mapping and transport data products, which we have yet to tap into.”
To help the company achieve its plans for accelerated growth it has secured a £100,000 loan from the Enterprise M3 Funding Escalator. The funds will be used to complete product development work, improve infrastructure, recruit new staff and undertake marketing activities.
Derek Ellis, Fund Manager at The FSE Group which manages the Enterprise M3 Funding Escalator on behalf of the Enterprise M3 Local Enterprise Partnership adds: “Basemap provides a niche offering to an exclusive market – one in which they have a proven track record and have established themselves as the clear market leader with the major customers in this field. We are pleased to be able to support them during this expansion phase and look forward to helping them fulfil their potential.”
The Enterprise M3 Expansion Loan Scheme is part of the Enterprise M3 Funding Escalator, a £5.5million initiative funded by Enterprise M3 Local Enterprise Partnership. The escalator, which also includes an equity growth fund, provides eligible companies with loans and equity funding between £50,000 and £200,000 for activities that will deliver high-growth and employment opportunities.
For more information about the Enterprise M3 Expansion Loan Scheme please visit http://www.thefsegroup.com/enterprise-m3-expansion-loan-scheme or contact Derek Ellis at email@example.com tel: 01276 607302.