Tech firm Epos Now to invest £10m in 2017 as it creates 150 new jobs in Norwich
- Credit: Archant
Fast-growing Epos Now has unveiled plans to nearly double its Norfolk workforce in 2017 as part of a £10.5m expansion.
The tech company, named Business of the Year at the EDP Business Awards in November, wants to add 150 positions this year after taking on two new units at Norwich Business Park.
The new jobs will represent £4m of additional salary investment, said chief executive Jacyn Heavens – but also a show of confidence in the city as the base for its continued growth.
Further investment of £2.25m will go towards upgrading the new buildings it has taken on near its Whiting Road offices, with other tranches of the £10.5m bill funding software development and the scaling-up of the company's US arm.
The company, which supplies till equipment and cloud-based software primarily to the SME market, made its first foray into the US last year, opening an office in Orlando, and is on track to record million-dollar monthly turnover by the end of 2017.
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Mr Heavens said: 'We're proud that we've been able to sustain our year-on-year revenue growth at 150%.
'Norwich has been a fantastic home to our business for the last five years, and we want to keep growing our HQ operations here.
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'Across 2017 we'll be investing over £10m in the local economy. This major investment is a huge vote of confidence in Norwich.
'It's incredible than in just six years we'll have gone from a team of five to a team of over 300 people in the city.'
Mr Heavens said the expansion would be funded from reinvesting profit from last year, as well as taking on £2.8m of debt.
'The American business has scaled up rapidly. Due to the number of customers we've brought in, we need a lot of technical talent,' he said, adding that 30 of the 150 jobs would be highly-skilled software developer posts.
'We want Norwich to be the brain of the operation. As we expand into other countries, they will be operational outposts. As they scale up, the technical support and software load will increase in Norwich.'
He said he hoped the business would be turning over between £3m and £4m a month by the end of the year.
Epos Now, founded in 2011, also won the Employer of the Year and Tech Innovator categories at the EDP Business Awards.