Two childhood friends have now raised $1 million for their Manchester-based AI startup BidScript.
Henry Brogan and Tyler McCarthy launched the AI tender management business while still at university to address a fundamental flaw in the bidding of public and private contracts.
Hundreds of billions of pounds of public and private contracts are awarded each year, yet most businesses are still completing tenders manually, using highly time-consuming spreadsheets and shared drives. BidScript helps businesses find, qualify, manage, write and submit bids.
The firm – which has a focus on construction and engineering, IT and education – has raised $800,000 in its latest funding round, bringing the total pre-seed funding received to date to over $1m.
The latest funding round includes follow-on investment from NPIF II – PXN Equity Finance, which is managed by PXN Ventures as part of the Northern Powerhouse Investment Fund II (NPIF II), alongside new investment from SFC Capital.
It says early customers across the UK, US and the Middle East have already seen win rates improve by up to 50%.
BidScript’s fundraising journey began in November 2024 when the business was one of 12 businesses selected for PXN’s inaugural PraeSeed cohort. Now in its third year, the six-week investor readiness programme is aimed at providing vital funding access and mentoring support for pre-seed businesses in the North of England.
BidScript was one of seven businesses that received an investment for £200k following the programme, which is run by PXN and funded by the British Business Bank’s Northern Powerhouse Investment Fund II.
“We are delighted to have secured the continued backing from PXN and welcome new investment from SFC Capital,” said Brogan.
“General-purpose AI does not meet the standards required for high-stakes public and private sector tendering — it’s a niche that demands deep expertise. BidScript embodies that exact principle and this latest funding round will allow us to take the next step on our journey as we expand into new markets and geographies.”
Harry Manley, investment associate at PXN Ventures, said: “Our investment into BidScript was one of the first cheques written following our inaugural PraeSeed programme, and watching the business grow in size and stature since then has been inspiring.
“We’re excited to see where this next round of NPIF II funding takes the business, given our belief in both Henry and his co-founder Tyler and the issue they are solving for businesses, who too often get swamped by resource-heavy bidding processes.”
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Ed Stevenson, principal at SFC Capital, said: “Henry and Tyler are tackling a problem most people overlook; the antiquated system of managing public and private contracts. They’ve built real traction early, and their sector focus and commercial discipline are exactly what we look for at pre-seed.”
Sue Barnard, senior investment manager at British Business Bank, said: “It’s great to see the Northern Powerhouse Investment II supporting ambitious technology businesses like BidScript as it continues to develop innovative AI-powered solutions and pursue its growth plans.
“As AI and digital technologies have an increasingly important role in driving productivity and innovation across the UK economy, businesses like BidScript reflect the ambitions set out in the UK’s Modern Industrial Strategy to support high growth companies and strengthen the digital economy.”
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