GCP signs binding agreement to invest in leading sales automation and data insight provider, Nurtur

Growth Capital Partners (“GCP”), a leading UK investor specialising in the knowledge economy with a focus on businesses operating in the technology sector, is pleased to announce it has signed a binding agreement to invest in Nurtur Group Ltd (“Nurtur”), the UK’s leading provider of lead generation, marketing automation, and data insight software to the estate agency and home mover market.

Founded in 2015 and headquartered in Derby, Nurtur has become the UK’s foremost sales and marketing PropTech platform. Nurtur has a deep heritage in the property sector and offers a suite of six core products across lead attribution, marketing automation and property-focused data insights to help providers to the home mover market better serve their end clients.

Under the leadership of CEO Damon Bullimore and alongside majority shareholder, Toscafund, Nurtur has grown its innovative, deeply integrated SaaS solution, extended its product offering and grown headcount to over 200 people across Derby and Coimbatore, India. Nurtur has developed commercial relationships with the largest estate agency groups in the UK, helping to generate and convert more leads, increase operational efficiency, and deliver tangible ROI on sales and marketing spend.

Damon Bullimore, CEO, Nurtur commented:

“We are delighted to have received investment from GCP. We specifically targeted GCP as a partner due to their specialism in investing in technology businesses, excellent track record of supporting value creation and the supportive partnership style they offer.

Nurtur is at a critical point of its evolution. Our products deliver efficiency, ROI and insight for clients, enabling them to become data driven and automated. We are extremely excited about our new innovations which are already driving value for clients. At the same time, we extend a sincere thank you to Toscafund, for their invaluable support and partnership over the years, they have been an outstanding investor and a significant contributor to our growth journey.

We believe that GCP is the right investor to support us through this next phase of growth, and we are looking forward to the partnership.”

The partnership between GCP and Nurtur will support the business in building on its market leading position in the UK by deepening its client relationships and technology partnerships while investing in innovation and new products, including its new conversational AI solution and global referral system.

Matthew Siebert, Toscafund Partner and Nurtur NED commented:

“Toscafund has been invested in Nurtur and its predecessor since 2015 and has been delighted to help underpin the growth of this exciting software business over the last 9 years. We are equally as pleased to continue to support the next phase of growth backed by GCP.

Damon and the whole team have built a unique suite of products and services that are resonating with clients from SoHos to enterprise customers. As the business enters its next phase of growth, by adding a new specialist investor such as GCP will ensure a strong footing for Nurtur to move forward with confidence.”

Alex Thomson, Partner, GCP commented:

“We have been following Nurtur for several years as the business has invested in its product suite, delivered value for clients and grown the team.

We are thrilled to be partnering with Damon and the Nurtur team at such an exciting point in the company’s journey. They have built an industry-leading platform serving a clearly defined market with deeply embedded technology and an impressive track record of growth. We look forward to supporting the team as they scale the business through the next stage of its evolution.”

The investment in Nurtur aligns perfectly with GCP’s strategy of backing ambitious technology-led businesses delivering value for end clients through automation, data insight and AI.

The investment is expected to complete in July 2023 and represents GCP’s 11^th investment partnership of Fund V.