Norwich based FXHOME Ltd, which specialises in visual effects and video software, is set to expand both its range of products and its team, firmly placing it as the global front-runner in a niche and growing market.
The East of England Regional Growth Loan Scheme – a government funded loan scheme to support businesses in the East region – has provided the company with a £200,000 loan to develop its next generation of software and employ new IT developers, as well as marketing and support staff, to deliver this.
Set up in 2001 by Managing Director, Joshua Davies, FXHOME was a response to the move to digital products in the photographic and filmmaking sector. This move meant that mass consumers were able to use increasingly sophisticated equipment which in turn created a need for affordable software to accompany it.
As the desire to digitally edit and enhance photos and movies has flourished alongside the explosion in social media sharing, FXHOME has continued to develop products which provide the mass market and professional community with a feature rich but affordable set of tools to meet their ever-advancing needs.
This has enabled them to achieve an active and loyal global user community of over 160,000 enthusiast and professional photographers and filmmakers, as well as a reputation for the world’s leading digital imaging editing products for this end of the market. FXHOME has also attracted interest from some of the industry’s major players and has established distribution arrangements and product bundling agreements with companies that include Sony and Toolfarm.
As Joshua explains: “We have always aimed to produce affordable tools which facilitate the creativity of film and photography enthusiasts. High quality editing software does not need to be exclusive to those that can afford premium products. This is why we have committed to continued development of products which benefit creative users at all levels of production, from beginners to professionals.”
The ongoing expansion of the product range will strengthen FXHOME’s leading position in the consumer market, taking full advantage of the rapid growth in the sector which is estimated to be worth $1bn.
Stuart Ager, Senior Fund Manager at Finance East, which manages the growth loan scheme, comments: “Joshua and his team already have a strong foothold in this niche market which they understand well. This, together with the work they have done to secure relationships with key distributors and partners, places them in an excellent position to take advantage of the growth opportunities available. FXHOME’s track record of product development and delivery to market is impressive and we look forward to helping them achieve this again with their upcoming products”.