Scheduling and routeing software company Route Monkey has said it will grow significantly over the next few years after securing a £2m funding package from Clydesdale Bank.
The Livingston, West Lothian based company, which counts Yodel, APC Overnight and Bunzl as customers, while supermarket chain Iceland, has adopted Route Monkey’s scheduling technology across its 800 UK stores, plans to grow its workforce of 30 by a third over the next three and a half years.
Sandra Hope, director of Clydesdale Bank’s Growth Finance team, said: “We welcome the opportunity to support Route Monkey, whose advanced route optimisation technology is helping the fleet industry to reduce costs and improve performance.”
Route Monkey has recently developed software that helps businesses to integrate electric vehicles into their fleets by accurately modelling the best roles and routes for them.
Colin Ferguson (pictured), director of Route Monkey, said: “Clydesdale Bank’s flexible funding will allow us to grow significantly over the next few years. In addition to creating new jobs and increasing our geographical footprint out with the UK, the funding will also enable us to invest further in our technology and continue to deliver innovation across the fleet industry.”
