FTV Capital leads $40m series-C for Egress

Previous backer Albion VC, the technology investment arm of Albion Capital Group, also took part in the round.

As part of the transaction, FTV partner Kyle Griswold will join Egress's board of directors to support the management.

The company plans to use the fresh capital to boost its growth in Europe and North America, and accelerate development of new technology across its data security platform.

Previous funding
Albion VC invested £2.2m in Egress in a series-A round in March 2014, securing a minority stake in the business. Subsequently, the company raised £3m in a series-B funding round in September 2017.

Company
Founded in 2007, Egress is a provider of data security and compliance software to help enterprises protect unstructured data, meet compliance requirements and drive business productivity. The company's AI-powered platform enables users to control and secure the data they share in line with evolving compliance regulations, including GDPR, and provides email and document classification, accidental send prevention, file protection, secure online collaboration, and audit and compliance reporting.

Egress is headquartered in London, with regional centres across the UK, as well as North American offices in Boston and Toronto. The company supports five million users globally and its clients base includes the CLCH NHS Trust, Spire Healthcare and HCA Healthcare, as well as charities, housing associations and schools. It generated gross profit of £7.7m and a turnover of £9.4m in 2017, according to public documents.

People
FTV Capital – Kyle Griswold (partner).
Egress – Tony Pepper (co-founder, CEO).
Albion VC – Ed Lascelles (partner).

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