Leathes Prior is delighted to have advised McKenzie Intelligence Services Limited (“MIS”) in relation to its seed funding round. MIS raised a total of £1,000,000 of funding, which will be used for working capital, including the recruitment of key new staff members to expand its ongoing business operation.
MIS provides software as a service to deliver satellite imagery, intelligence, remote sensing and geospatial technology predominantly to the insurance market. With offices in London and Bournemouth, MIS has worked for the past 18 months with the Lloyd’s Market Association (LMA) to assist the Lloyd’s managing agents to make improvements to claims processes and exposure management both pre and post a natural catastrophe.
Forbes McKenzie, Managing Director and founder, commented:
“We could not be more delighted to have finalised our SEED investment round. The funds will now permit us to accelerate our product road map and employ several exciting new hires. Alex and his colleagues at Leathes Prior guided us throughout the whole process, simplifying every step of the journey.”
Alex Saunders, of Leathes Prior’s Corporate team, advised MIS on the funding round.