New CEO and funding to drive InVMA’s growth
Tern has announced the appointment by its portfolio company InVMA of a new CEO, Peter Stephens, who will work alongside the company’s founders to spearhead the next stage of its growth and development. Stephens has a track record of successfully delivering digital transformation across industries and geographies, making him well-suited to complete InVMA’s transformation into a SaaS based software products company. InVMA has also secured a £125,000 UK Future Fund convertible loan, to be matched by Tern, which currently has a 50% equity holding in InVMA. The £0.25m total investment provides the financial resources to kickstart InVMA’s planned growth programme, to build on the successful launch of AssetMinder and establish it as a leading product in remote predictive monitoring.