A TECHNOLOGY firm is expanding into larger premises after securing nearly £2m in funding to support its recruitment drive and grow in overseas markets.
Boldon-based Performance Horizon Group, a provider of performance marketing technology, has secured the pot of cash from existing investors Greycroft Partners and DN Capital.
The company has been based at the TEDCO Quadrus Centre in Boldon since it was established in 2010 and in just two years has seen its workforce expand from a five-person team to now employing more than 30 people.
As the centre’s largest occupier, the team has outgrown it original unit and has moved to larger premises within the Boldon business park.
The firm provides insight into online performance marketing through its proprietary software ExactView which can be customized to give clients a global platform for tracking, reporting, managing and optimising partner relationships in the affiliate marketing channel.
It now provides services to more than 35 international brand name clients including Orange, T Mobile and Sony in 30 countries.
Chief operating officer, Paul Fellows said: “The last couple of years have seen a period of rapid growth and expansion where we have seen unprecedented revenue growth.
“In the past 12 months we’ve taken about 25 people and we’re recruiting for a further seven at the moment. As a result we have needed additional accommodation to help support the increase in staff numbers we are experiencing.
“As our team expands there are a number of considerations for current staff, such as a convenient location and good transport links and Quadrus has been able to provide these along with high quality accommodation and the ability and space to support our growth plans.”
The current recruitment drive sees the group looking to add to its developer team in the North East, working on creating innovative digital solutions for worldwide brands in addition to a number of sales positions in its London and New York offices.
As well as its expansion in the UK, the firm has also recently launched in Australia with the opening of an office in Sydney and is currently looking to open its second office in the United States by establishing a presence on the west coast of America.
It has ambitions to expand into further territories across the globe in coming years as the company looks to capitalise upon foreign demand.
Alex Wiley, marketing manager at TEDCO, said: “Performance Horizon Group is one of Quadrus’ real success stories and as a business it has enjoyed a high level of growth in a relatively short period of time.
“The flexibility of accommodation at Quadrus allows us to support businesses when they need to expand and take additional units.”