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Close Invests in Mobile Worker Solutions Innovator

Blackbay delivers real-time mobile worker solutions that enable business process improvements to Supply Chain and Field Service mission-critical operations. Blackbay’s solutions, Delivery Connect and Service Connect, provide a comprehensive set of capabilities that integrate with existing information and communication systems to provide cost-effective solutions that solve real-world business problems, such as reducing costs, increasing sales, improving productivity and customer service levels. Existing Service Connect customers include blue chip organisations such as Konica - Minolta, Dyson and Chubb while Delivery Connect customers include ParcelForce in the UK and Australia Post.
Commenting on the announcement Emil Gigov, Director of CVM, said: “This is a very exciting investment for CVM. Blackbay operates in a market which has been transformed by recent technological improvements combined with reduced hardware costs. The Company’s thorough understanding of the field service automation and logistics space makes it a clear leader in these vertical markets. We were attracted by the combination of a proven solution, a blue chip customer base and an excellent management team in a fast growing market. We look forward to helping the business achieve its full potential.” Emil has joined the board as a non-executive director.
Blackbay’s Managing Director, Larry Klimczyk, added: “We are very pleased to have attracted a high profile institutional investor, such as CVM. Our focus is on enhancing our sales and marketing drive internationally as well as continuing to develop our products and the services we deliver to our customers. This investment will allow us to capitalise on the many opportunities we see in the market.”

Emil Gigov, Close Venture Management, Tel: +44 (0) 20 7422 7830
Larry Klimczyk, Blackbay, Tel: +44 (0) 7742 16 7762

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