Warwick-based Nimbus Maps had experienced a meteoric rise in demand for its services in recent years. The company, whose technology provides the property industry with unprecedented information on properties across the UK, had seen the number of users of its technology rise from 3,000 to 40,000.
This growth needed careful management by Nimbus Maps to avoid the risks involved with over expansion and so the firm sought advice from Business Ready, a programme that delivers support to expanding businesses.
Since receiving expert guidance from Business Ready, Nimbus Maps has established a fresh business strategy which has seen the company adopt a more targeted approach to marketing. The company has also taken advantage of its close links with the University of Warwick to make several strategic appointments to the team.
The company
Nimbus Maps was set up by brothers Simon and Paul Davis with the aim of providing up-to-the-minute access to information on potential investment and development opportunities, accessible to everyone investing in or developing properties.
Based at the University of Warwick Science Park’s Warwick Innovation Centre, Nimbus Maps developed a product which includes current information on commercial and residential sites – from ownership through to planning permissions – and that information is layered onto Google Maps and Ordnance Survey maps via a mobile-ready platform.
The Challenge
Nimbus Maps had experienced a sharp rise in demand for its services. Over an 18-month period, the number of users had risen from 3,000 to 40,000. This growth needed careful management to avoid overexpansion – something that might have put added pressure on the team and affected the firm’s business strategy.
The Solution
Nimbus Maps contacted Business Ready, a programme that delivers support to expanding businesses. Business Ready’s team of business advisers and external growth specialists have expertise and experience supporting growing businesses reach their potential.
Nimbus Maps switched its strategy to instead focus on a more targeted approach. Business Ready was able to assist the company to communicate the value proposition of its product. It also received direct support from Business Ready on marketing, pricing and access to finance. The latter helped them raise £400k equity investment which funded their go-to-market campaign.
Simon Davis said: “Around 18 months ago we were aiming for a very broad market but we switched the strategy to go for a more targeted approach because it made more commercial sense.
“We are very passionate about Nimbus Maps and for us the challenge has been trying to translate all the value of our products to a very diverse industry.
“Business Ready has helped us develop the infrastructure to grow in a way that corresponds to our vision. They have provided us with marketing support and guidance on tailoring our business to the types of clients we want to attract.”
The association with Business Ready has also provided Nimbus Maps with a link to one of the UK’s most prestigious universities. The company has made a series of strategic appointments, many of whom have come directly from the University of Warwick.
Simon said: “We’ve taken on a new data scientist – a PhD student from the University of Warwick – who also has a Masters from Oxford University. This is in addition to continuing to sponsor a data science PhD student.
“More recently, we have appointed an MBA graduate from WBS, Andrew Green, who completed an internship with us. Following his work experience, he joined us as director of customer service. Andrew will play a vital role in getting the industry to understand all the capabilities of Nimbus Maps, having himself worked in it for 10 years previously.”
The Results
Since receiving support from Business Ready, Nimbus Maps has grown its team to 12, which has yielded positive results – and this number is expected to increase as part of the firm’s strategy going forward.
Simon Davis commented: “These appointments are starting to bear fruit and during that time we have acquired some seriously big users such as Lidl, Aldi and Co-Op.
“We hope to make further strategic additions to the team over the coming months which complement our business strategy and support our operations going forward.”
Dirk Schaefer, Business Adviser from Business Ready said: ”Nimbus have done a great job of transitioning their business from a traditional organisation into a software as a service business.
A mix of a helping hand from Business Ready, talent and research from the University of Warwick and visionary founders made this transition possible.”
