West Midlands-based Comply Serve has secured new equity fundraising from its existing partners as it embarks on international expansion.
Compliance software business Comply Serve is set to accelerate its expansion plans on the back of securing additional syndicated investment capital from previous backers.
New support has come from lead investor Chord Capital, through its Advantage Growth Fund, as well as Midven, through its Advantage Growth fund, and Catapult Venture Managers, as part of its Advantage Enterprise & Innovation fund.
Following its new undisclosed equity fundraising, Comply Serve will embark on both international and technical expansion as it looks to build on new contract wins with Etihad Rail and Laing O’Rourke.
Mark Chambers, chairman of Comply Serve, comments, ‘Securing this additional investment will enable the business to build momentum a lot faster; building on the success to date.
‘In the past 12 months the company has laid down some significant growth.’
The new appointments of Don Cameron, as sales director, and Steve Tosh, as product development and operations director, are said by Chambers to be about ensuring ‘key milestones are made’ through utilising ‘exceptional talent’.
Rollison identifies its ‘flagship’ product as ComplyPro, which enables major infrastructure programmes to get compliance and assurance processes under control.
Rollison adds, ‘Not only are we winning significant new clients, we are also continuing to see development in our existing long term clients such as Crossrail.’
Chord Capital is a venture investment company based in Cambridge and London and manages £40 million of assets on behalf of three funds. Its investment focus centres on commercialising technology companies alongside entrepreneurs.