Albion injects £2.2m into Egress

Egress is currently focused on the UK market, though it has made some early sales in the Nordic region. The capital injection will be used to support plans for growth and global expansion.

Albion sourced the transaction directly through its own network, with funds to be drawn from its range of VCTs.

The GP recently led a funding round for health and biomedical informatics firm Aridhia Informatics and has also invested in healthcare-as-a-service business Cisiv.

So far in 2014, Albion has invested £3.1m into Green Highland Renewables, a developer of hydropower schemes.

Company
Established in 2007, Egress provides on-demand cloud-based email and file encryption services to the public and private sectors. Its clients include the NHS, Spire Healthcare and HCA Healthcare, as well as charities, housing associations and schools.

In 2013, Egress had a turnover of £2.2m and generated a profit.

People
Ed Lascelles, a partner at Albion, led the deal. Tony Pepper is the CEO and co-founder of Egress.

Advisors
Equity – Bird & Bird (Legal); Crowe Clark Whitehill (Financial due diligence).
Company – Waterfront Solicitors (Legal).

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• Topics
• UK / Ireland
• Expansion
• Technology
• United Kingdom
• Albion Ventures