‘We’re proud that Haatch and York Angels recognise the potential in YardOps,’ said co-founder Jim Wardlaw
From left: Martin McDougherty, YardOps commercial director; Jim Wardlaw, co-founder; Steve Secker, chair, and John Polling (co-founder.(Image: YardOps)
A Hull tech company whose systems help companies with logistics has secured close to £500,000 investment which values the business at £2.5m. YardOps, which is based on Queen Street, builds tech that is used by fast moving consumer goods companies and has recent secured a contract with a UK supermarket group.
The firm, which was launched last year, previously counted one of the UK’s largest food and drink companies among its customers. Now it has secured funding from early-stage venture capital firm Haatch – via its SEIS Fund and British Business Bank-backed fund – and angel investors.
YardOps says the funding will be used to expand its customer base across the UK and Europe. It is led by co-founders Jim Wardlaw, Matt Gibson, John Polling and Matt Weldon.
The founders created YardOps having spotted that most yard operations software is designed for the US market, and that an estimated 70% of UK yards still run on spreadsheets, radios and patchwork tools.
Its platform helps optimise yard activities including booking, gatehouse, driver communication and trailer maintenance, among other factors. Its tech is said to help reduce vehicle pick-up turnaround times and boost health and safety.
Jim Wardlaw, YardOps co-founder, said: “Despite a world-leading FMCG industry, so many UK companies are still using manual processes for their yard logistics. We recognised the vast upside opportunity in terms of efficiency and speed of creating bespoke solutions for these operations. With the majority of operators relying on traditional processes, there’s a very significant addressable market.
“The benefits our customers have drawn from using our team’s software have served as proof of concept. We’re proud that Haatch and York Angels recognise the potential in YardOps and their funding provides us with the platform to help other FMCG firms benefit from our tech.”
The funding from Haatch and York Angels will be invested in further product development, sales and marketing, and strengthening its senior team. YardOps recently appointed Martin Dougherty, who previously held senior roles at Wincanton and DHL, as commercial director.
Marwa Ebrahim, associate (pre-seed) at Haatch, said: “We’ve been hugely impressed with the YardOps team and what they’re bringing to market. This is a compelling solution to the inefficiencies present in logistics operations across the UK and there’s a large addressable market to target with the software. With the help of our funding and guidance, we’re confident YardOps can scale its product and build a significant customer base here and across Europe.”
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