Tenzing invests in MetaCompliance

This marks the first investment from Tenzing Private Equity II, which closed on £400m in June 2020. The fund is expected to make around 10-12 investments. The equity tickets for the fund will be around £20-25m and follow-on capital will reach up to £30m. The fund will focus on fast-growing technology businesses and technology-enabled businesses based in the UK, Ireland and northern Europe.

The firm is backing Robbie O'Brien, the founder and CEO of the company, as well as its management team. Following the transaction, the company is expected to invest in new product development, sales, marketing, acquisitions and internationalisation.

Previous funding
Invest NI provided an investment of £700,000 in 2019; the business planned to use the funding to create 70 new jobs at a cost of more than £4.5m.

Company
Founded in 2005, the company's cloud-based software allows businesses to train their employees around cyber threats and to comply with regulatory requirements.

Londonderry-based MetaCompliance generated £6m in revenues in the year ending on 31 March 2020, with its operations in the UK accounting for £4.5m, and the remainder coming from the rest of the world. It employs 120 people in the UK, Europe and the US.

People
Tenzing Private Equity – Guy Gillon (founder, co-managing partner).

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