ExecSpace has room to grow after funding deal

A FLEDGLING business that offers a one-stop shop for companies organising conferences and events has agreed a six-figure funding deal as it looks to double its headcount.

Edinburgh-based ExecSpace, which was founded in March 2008, said the cash injection from business angels followed a 150 per cent surge in revenues last year.

The firm booked some 900 meetings and events throughout the country for clients during 2010, leading to business worth some 2 million. It is projecting 100 per cent growth this year, boosted by the angel investment.

Managing director Emma Little, who left her job with mobile phone heavyweight Vodafone to set up the company, said the current workforce of six was likely to rise to 12 over the coming year.

The firm acts as an agent, sourcing venues, accommodation, audio-visual equipment and catering for scores of clients in both the public and private sectors. It has carried out work for Aggreko, Martin Currie and Vodafone.

"This investment will help ExecSpace to double its staff in 2011 and allow the company to grow and develop further into the UK conference and accommodation market," said Little.

"With the cash injection I plan to recruit new team members, which will enhance the level of customer service the company can provide to existing and potential clients.

"This is an exceptionally exciting time for ExecSpace and the investment will hopefully be the start of a very successful year for the firm."

The exact level of funding and identity of the investors have not been disclosed.

Little came up with the idea for ExecSpace after seeing how much work her own personal assistant had to do to organise sales meetings, away-days and accommodation.