BGF in £6m round for MyLife

BGF contributed £3m to the round, with Barclays providing a £2.7m venture debt facility.

The business will roll out its Consentric personal data platform globally, following its UK launch in 2017. The business intends to reach a £120m turnover within three years, having reported sales of £5m at the time of BGF's initial investment two years ago.

BGF has been particularly active in 2018, as Unquote recently reported, with the MyLife transaction marking its 32nd investment of the year. The latest deal sees the GP surpass its deal volume of 31 transactions last year, with just seven more required to match its all-time record of 39 deals set in 2016.

Previous funding
BGF led a £2m funding round for MyLife in 2016.

Company
Founded in 2015 and headquartered in Hartham, MyLife develops software that enables companies to manage customer data. The software is designed to help promote data transparency and enables users to control the information they share, with the intention of building greater trust surrounding personal data usage. It has 50 partners including Salesforce, Experian and the Read Group.

People
BGF – James Austin (investment director).
Barclays – Juliet Rogan (head of high growth and entrepreneurs).
MyLife Digital – Bruce Finnamore (chairperson).

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• Topics
• Expansion
• UK / Ireland
• Technology
• United Kingdom
• BGF (Business Growth Fund)