Foresight Group fuels Firefish Software’s growth with £4 million investment
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Pictured (L-R): Natasha Shaurek, director of product; Richard Mullan, CFO; Peter McMorow, AD; Wendy McDougall, CEO; Kai Murray, non-exec director; and Gordon Webb, director of growth;
Foresight Group, a regional private equity and infrastructure investment manager, has invested £4 million in Firefish Software Limited, a CRM and marketing software platform for the recruitment sector.
Firefish, a Glasgow-based firm founded by Wendy McDougall and Andrew Mackay in 2010, streamlines growth and improves candidate conversion, engagement, and placement for its customers.
The company has seen growth in recent years, expanding its customer base and launching new enterprise market products. Foresight’s investment will aid Firefish’s management team in achieving growth ambitions, by investing in product development, creating sustainable jobs, and expanding commercial capabilities and reach.
Ms McDougall, CEO and founder of Firefish, said: “Firefish has seen significant growth since Andrew and I founded the business and we are proud to support a growing number of recruitment firms. We are excited to partner with an experienced growth investor in Foresight to help us realise our full ambitions for business.”
Graeme Mckinstry, investment director at Foresight, added: “Wendy and Andrew have built an impressive product and customer base. We are delighted to be partnering with a growing software business which we expect will deliver significant job creation in Scotland.”
In 2022, Foresight completed over 90 investments into SMEs, announced three new funds, acquired a ventures fund, and opened regional offices in Dublin and Leeds. In 2023, the firm has invested in nearly 40 SMEs and announced several successful exits.
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