Bristol-based specialist software firm BOXARR, which works with global aerospace and defence groups, is to significantly accelerate its growth plans after receiving investment of £2m.
The funding will allow the firm, the world’s leading provider of Interdependent Systems Management (ISM) software, to extend its geographical reach and advance its product functionality to meet new customer requirements. It will also upgrade its customer service and support. 
BOXARR, which rebranded from its previous name Plexus Planning in May, will remain focussed on the aerospace and defence sectors where its software is already embedded and delivering value in manufacturers such as Airbus, Boeing, Raytheon, Rolls-Royce and Siemens, as well as the US Navy.
The new funding is being provided by existing shareholder IP Group and new investor London-based Parkwalk.
BOXARR chief executive Alasdair Pettigrew said: “BOXARR has been successful because we are the only solution that really works for vastly complex aerospace and defence projects.
“There are enormous opportunities for growth and this new investment will help us to realise our plans. It is particularly pleasing that IP Group has added funds and we are delighted to welcome Parkwalk as a shareholder.”
BOXARR, based in Bristol’s Engine Shed innovation hub, was founded by Professor Jim Scanlan of Southampton University, Rob Smith of University College London and Ian Poccachard of Rolls-Royce in 2003.
They identified fundamental weaknesses in the way major firms handle large and complex projects, often leading to serious cost overruns. The firm has a distributor in Shanghai for the high-growth Chinese aerospace market and earlier this year entered the Brazilian market.
The firm’s unique software saves companies time and money, while reducing risk. It addresses the convergent challenges of systems engineering, supply chain, process and planning, enabling firms to better understand the risks and visibility of mitigations, identify cost reduction opportunities, plan more realistic schedules and achieve consistent product quality and regulation compliance.
