Estate agency software firm CML is receiving a big cash boost plus management input into its business, to help it grow market share and snap up competitors.
Continuum Systems, a specialist investment fund which helps grow high-tech companies, is investing ‘significantly’ in CML.
Berkshire-based CML already has a big blue chip customer base, including Savills, Chesterton Humbers and Kinleigh Folkard & Hayward.
Continuum senior partner Al Chetwode will join the CML board and become its full-time commercial director.
He said: “CML supplies software to five of the top ten estate agency groups in the UK, and yet up until now they have remained the best-kept secret in the property software market.
“We believe that the combination of CML’s expertise, allied with our financial muscle and management experience, at last gives the UK sales and lettings agents the opportunity to invest in truly great computer systems, fulfilling all of their software and support requirements.
“In addition, we will be looking to help CML to look for possible acquisitions over the coming year.”
CML was founded in 1992 and is today led by its managing director Robert Horsford.
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