09/06/2015

Growth of South Wales health tech business Nudjed continues

  • New contracts signed with organisations including Go Compare and Bridgend Council.

  • Fresh seed capital injection secured from Welsh investors.

  • Team expansion appointment of key staff for sales, marketing and customer service.

Nudjed, the workplace health and wellbeing solution provider, today announced that it has
closed an additional £100,000 in seed funding to further accelerate the company’s growth and
customer success. The investment was led by Catalyst Growth Partners, with participation
from serial biotech entrepreneur P rofessor Chris McGuigan and e xisting investors Finance
Wales and Smart Anchor Ventures. To date the company has raised a total of £275,000
excluding early grant provision support from the Welsh Government’s Digital Development
Fund.

Nudjed's CEO / Founder Warren Fauvel says: "We’re delighted to have secured this new
funding from a number of prominent investors all of who add huge value to our company. The
new funds will enable us to expand our science and product teams, and will help us to consolidate our Intellectual Property. We’ve already hired a new Business Development Manager to convert our growing sales pipeline, a Customer Delivery Manager to build customer success, and a Marketing Manager that will help build market brand awareness"

Nudjed, based in Cardiff, are fast becoming one of the success stories of the South Wales
tech cluster. The company was recently named in this year’s 'Tech Nation Report' as a
notable startup success, and was also nominated as one of the Digital 2015 ‘Digital Dozen’,
top companies to watch in Wales. Following the appointment of an experienced Board of
Advisors at the start of the year, the Nudjed management team have delivered a plan that has
enabled the company to go from strength to strength.

Professor Chris McGuigan, the cofounderof several hugely successful businesses, is the
Chair of the Life Sciences Hub in Cardiff Bay, and Professor of Medicinal Chemistry at Cardiff
University. He said of the opportunity to invest: " I am delighted to help support the further
expansion of Nudjed. With their unique offering and wonderfully dynamic management they
seem to me certain to establish themselves as a key player in the workplace health and
wellbeing sector."

Ashley Cooper, CoFounder and Director of Catalyst Growth Partners (CGP) a high growth
business accelerator focused on working with positive people and innovative businesses in
driving structured growth, says that the decision to invest in Nudjed by the Directors of CGP
was driven by four key factors. “Nudjed has a great founder and team, a really innovative
product that the market needs, great growth potential, and is a business where we can add
significant value to the strategic direction and growth. We are very excited as to what the
future holds for Nudjed, and are delighted to be involved."

Finance Wales’ seed investment in Nudjed last year was the first investment from the Wales
Technology Seed Fund, and enabled them to develop their product. Commenting on Nudjed’s
second seed investment round, Technology Seed Fund Manager James Henderson said:
“Nudjed has made impressive progress since we invested last year. They have developed
their product, won new contracts and made some key appointments. Attracting highcalibre
investors in this second seed investment round clearly demonstrates Nudjed’s potential, and
they are now well placed to capitalise on their achievements as well as the growing health
tech market.”

“Having worked with Nudjed over the last 12 months we’re very excited about the amazing
momentum the company is experiencing and believe that with this additional funding the
company can develop faster,” said Mark Hindmarsh, Director, Smart Anchor Ventures.
“Nudjed is redefining the way organisations engage with and educate their workforces when it
comes to health and happiness.”

As well as the new round of seed funding, Nudjed’s methods for measuring and improving the
health of organisations have attracted some big names to their client list, including
GoCompare, Bridgend Council and OSTC. Julia Richards from GoCompare says: “We signed
up with N udjed as we were impressed with their enthusiasm, and their passion for health and
wellbeing matches our commitment to our staff. From the offset they were always on hand
and able to provide bespoke communications and materials to support the roll out to our
team. They work with us very closely to ensure that our staff are getting the most out of the
service, and as such we are able to better understand the needs of our staff and further
improve our staff offerings. It’s refreshing to work with such an enthusiastic group of people
who really care about what they do.”