The Glasgow-based company, which achieved 20 per cent year-on-year growth in 2011, said it plans to use the equity finance to help open branches in London and Singapore.
PGE partner Malcolm Kpedekpo said, “Dog Digital is an exciting digital agency and we believe that it is well placed in a high-growth sector to take advantage both domestically and internationally.”
Dog Digital founder and director Gerry McCusker said the company had not been looking for growth capital when they met with PGE.
He said, “We soon realised that a funding boost combined with their expertise and track record could help us really ramp up our growth ambitions.
“From the off, Malcolm and Drew were completely in tune with what we wanted to achieve for our business, and were careful in this process to not lose sight of the culture and values that we have worked hard to create.
“That was hugely significant.”
Panoramic’s £34m ECF I fund remains the largest granted since the Government-backed scheme launched in 2006, and the only one awarded to a Scottish venture firm.
It aims to make investments between £500,000 and £2m to meet increasing demands for growth capital by SMEs.
The company announced in January it had hired former Business Growth Fund executive Jane Reoch as a senior investment manager.
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