The funding was led by venture capitalist firm Beringea, web analytics and optimisation firm IS Solutions and some of Speed-Trap’s existing investors.

Geoff Shingles (pictured), chairman of Speed-Trap Holdings said: “We have established relationships with some great partners who take us to market as part of their business solutions, such as SAS and Teradata, and most recently Oracle Corporation. Our next round of expansion is to establish Speed-Trap in some new geographies, particularly in the USA, to support further business development and support Speed-Trap’s sister brand Magiq.”