Software platform Hicomply has been backed by BGF with a £3m investment.
We provided comprehensive legal advice to BGF on the deal.
Hicomply gives companies the tools to build their information security management system (ISMS).
The funding will allow the business to accelerate growth through investment in sales and marketing, as well as continuing to develop its technology.
“We are delighted to have advised BGF on its investment into Hicomply. Congratulations to all involved and we look forward to watching the platform grow with the help of BGF’s investment.” Steven Millward.
Ed Bartlett, chief executive, said: “The rapid acceleration of digital transformation in a remote working world and the consequent increased cyber risk has seen data security rising to the top of the agenda for many businesses. We’re ideally placed to support SMEs to improve governance and protect their people, operations, and intellectual property assets.
“We were looking for an investor with a strong track record in our sector but one who also understood our business and could support a clear roadmap to achieve our long-term ambitions. With BGF’s backing, we can accelerate our own expansion and empower more businesses to access our technology, ensuring robust compliance.”
This is the third North East technology investment for BGF in the past 12 months, following its £14m funding for tech-enabled procurement platform Bloom and its investment in Stockton-based Datum360.
Chris Boyes of BGF’s Yorkshire and North East team led the deal. He added: “The North East benefits from a rapidly growing tech sector with access to excellent talent because of the universities and global organisations based there.”
BGF were advised by our team:
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