Idea Drop, an idea management platform for businesses, has closed a £1 million Angel funding round. Taking in as many as 34 new investors, the round’s participants include the likes of Lord Smith of Kelvin, Scottish businessman and former chairman of Weir Group Plc and SSE Plc.

Since its inception in 2014, Idea Drop has traversed a long way. Started as a digital creative agency, the team, not satisfied with the then existing cloud-based tools, they set off to create powerful idea software that would help organizations seamlessly integrate an innovation strategy into their workplace and effectively implement idea crowdsourcing from their staff.

The startup now provides cloud-based software for organizations to crowdsource, curate and implement ideas across their teams via web and mobile applications.

Owen Hunnam, co-founder, and CEO of Idea Drop, commented,

We believe the global idea management space is significantly under-served and, remarkably, this tech sector along with the key leading vendors have failed to innovate in recent years.

He continued,

We’re building a beautiful experience that is not only a joy to use but has meaningful and measurable ROI for every organisation. This new funding will help us to bring the platform to more organisations.

This latest round brings the London-based firm’s total raised to £1.2 million, with plans being made for Idea Drop to develop its product and accelerate global marketing and sales activity.

Developments have also taken place where personnel is concerned, with three new appointments having been made to the company’s board, including chairman Simon Cole, CEO of AIM-listed digital music firm 7Digital. According to Cole,

I’m delighted to be joining the Idea Drop board as chairman. Having spent my career leading a diverse group of businesses across multiple sectors, I’ve experienced first hand the problems and missed opportunities that result from preventing ideas flowing freely and openly around an organisation.

He concludes with an expression of optimism at the newly born partnership,

As innovation becomes an increasingly important key strategic pillar at board-level across businesses globally, I’m excited to be part of Idea Drop as they execute their plan to become the global leader in innovation management.

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