Company history
Covalent was founded in September 2003 by Peter McHugh, following a market consultation and research exercise over that summer. In October 2003, Version 1 of Covalent CPM was deployed in our pathfinder customers - Sedgemoor District Council and Wychavon District Council.
During the first half of 2004 we scaled our operation up to 10 staff in line with significant customer success; by end 2004 our customer base numbered over 20.
Lichfield DC became our 30th customer in March 2005, and during that quarter we also signed our first Housing Association customer, and our first Scottish council. By summer of 2005, our staff pool had grown to 20 people.
In late 2005, Covalent secured an equity investment from Yorkshire Fund Managers to support the company's expansion plans. As a result, Robin Taylor joined us as a non-executive director providing guidance and input to the development of the business, and working with the executive team on special projects.
Going into 2006, customer numbers stood at 46 and we had 26 employees. Over the course of 2006 we have continued to expand in line with our five year business plan.
- We have developed business in most of the rest of our target markets, namely PCTs & Hospital Trusts, Further Education Colleges, Charities and Government Departments/Agencies.
- We have secured our first non-UK customers in Ireland, Australia and the US as part of our 'internationalization' drive.