#United Kingdom #Nottingham #Cronofy #BGF #Scheduling

Cronofy Secures £15 Million Funding to Fuel Growth

In a significant move to boost its growth trajectory, Nottingham-based Cronofy, a leading provider of embedded scheduling infrastructure, announced today that it has secured a £15 million investment from BGF, one of the UK and Ireland's most active growth capital investors. This substantial funding will help the company further its expansion and product development plans, continuing to refine the complex scheduling processes for businesses on a global scale.

Founded with the goal of revolutionizing scheduling, Cronofy has developed an integrated platform that is currently utilized by over 180,000 companies worldwide. Their technology seamlessly enables real-time scheduling and is particularly embedded in application processes across various sectors, including recruitment, healthcare, and professional services.

The platform, crafted by seasoned engineers Adam Bird and Garry Shutler, was designed with the understanding that a novel architectural approach was necessary to enable large-scale embedded scheduling while ensuring high levels of security and data privacy. Major brands such as Indeed, Houzz, and Docplanner have already adopted Cronofy’s technology, demonstrating its reliability and effectiveness. Notably, renowned fintech company Wise has leveraged Cronofy’s integrations to cut down the time required for scheduling interviews from six days to just 90 minutes.

With this recent funding, Cronofy plans to enhance its core product offerings, explore new application domains, and accelerate its growth in international markets. Notably, the United States currently accounts for over 60% of its revenue. Despite its global reach, the company remains firmly based in Europe, adhering to strict EU compliance standards and implementing a robust security-by-design approach.

The investment also marks a partial exit for some of Cronofy’s investors, who have supported the company since its inception in 2016. Adam Bird, CEO and co-founder of Cronofy, expressed his excitement about this development, stating, “We were looking for a partner to support us in the next phase of our growth, and BGF offers the experience, flexibility, and scale to help us achieve our objectives. Scheduling is a critical yet often overlooked business function, and we are dedicated to simplifying it securely and prioritizing privacy for enterprises around the globe.” He further elaborated on the platform's evolution, saying, “We have dedicated the last decade to building a platform that integrates seamlessly into the systems our clientele already uses, thereby saving them time and improving efficiency.”

Seb Saywood, a partner at BGF, underscored Cronofy’s impressive track record, sharing that the company has gained global recognition as the most reliable provider of embedded scheduling infrastructure in its sector. “The ROI for various customer types, including larger enterprises, is compelling. The company has a customer-centric growth strategy focused on product enhancement and has captured 60% of its revenue from the more mature US market. We look forward to collaborating with this remarkable management team that has shown the ability to resolve customer issues and scale technology businesses effectively,” Saywood commented.

The transaction involved advisors from several firms, including Shakespeare Martineau, RSM, Browne Jacobson, Cooper Parry, Alvarez & Marsal, RP Advisory, and Scalewise.

About Cronofy

Cronofy delivers real-time scheduling solutions that integrate seamlessly into existing calendar and business systems, aiding businesses in minimizing administrative burdens while enhancing usability through safe, automated planning.

For more information, visit Cronofy and connect with them on social media @cronofy.

About BGF

BGF is one of the largest and most experienced growth capital investors in the UK and Ireland. With a minority and non-controlling investment approach, BGF supports a broad spectrum of growing companies with long-term capital and strategic backing. Notably, BGF is also recognized as a certified UK B-Corporation. More details can be found at BGF and on their social media @BGFinvestments.