Evotix
Established: 2011
Country: United Kingdom
Region: Scotland
Investors: Frog Capital
Frog Capital invested in Evotix in February 2020 shortly before the Covid pandemic. Evotix is a purpose-driven software business that now helps over 500 companies and their circa 150,000 employees improve their Health & Safety operations. Frog’s team of Operating Partners worked closely with their senior leadership team to expand into the US and develop their sales, finance, product, tech and people teams to help them scale with purpose.
The Evotix cloud-based, mobile platform is used by leadership, training teams and workforces across a diverse range of industries including manufacturing, food & drink, construction, utility services, transport & logistics, and healthcare. Evotix can now service any size client anywhere in the world, including household names like GSK, New Balance and Tata Steel. Frog’s investment helped Evotix achieve growth, profitability and acquisition while remaining true to their purpose.
>200
staff
>500
customers
€8.6m
raised from investors
We chose the Frog team because of its focus and expertise in scaling software companies like ours internationally. Frog’s Scale-Up Methodology and Operating Partner team stood apart from our other investment options, and have made such a huge contribution. I have really enjoyed working together.
Key achievements
Grew ARR to over €20m in the 3 years since Frog invested
Evotix became a sustainable, profitable business, attractive to acquirers
Supporting over 150,000 employees at over 500 customers with health and safety
Funding history
Matthew Elson, CEO, acquired the business for £1 in 2011
Frog invested in February 2020 and Evotix was acquired in May 2023
Frog achieved a 3.2x return on their investment with an IRR of 46%
Operational support
Frog’s team of Operating Partners contributed across the whole business
Expanding into the US
Successfully acquiring a business and being successfully acquired
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Investors
