RBV backs Stortext

Royal Bank Ventures, the technology venture capital arm of the Royal Bank of Scotland, has led a syndicate investing GBP3.8 million in Stortext. The Edinburgh company provides document management services to a range of blue-chip companies.

Other funds in the syndicate include Albany Ventures, which invests in Stortext for the first time, and returning investors BancBoston Capital, Trivest VCT and Scottish Equity Partners, with the company’s founders and management. Royal Bank Ventures also led the first round for Stortext.

Stortext provides a 24/7 document access, search retrieval and recovery service, using a pay-as-you-go pricing model. The company also provides a wide range of other information, knowledge and e-commerce services.

Stortext has an annual turnover in excess of GBP4.5 million and has over 500 blue chip clients including Abbey National, Consignia, The Environmental Agency, McDonalds and Orange.