iAM Compliant secures £1 million Seed investment from Maven

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iAM Compliant secures £1m funding from NPIF – Maven Equity Finance

Globally recognised online compliance tool receives investment to increase its product portfolio and invest in company infrastructure to scale up

Cheshire based iAM Compliant Limited has received £1m funding from NPIF – Maven Equity Finance, managed by Maven Capital Partners and part of the Northern Powerhouse Investment Fund (NPIF).

The investment will be used to accelerate the build out of the iAM learning library, a cloud-based content as a service that provides a range of eLearning topics and offers bespoke content build for larger international eLearning businesses.

The company, which spearheads a safety management, premises and compliance online tool, alongside a characterful and disruptive animated online elearning library, has seen strong growth since formally launching to the market in 2019.

The compliance tool is widely used in the education sector and provides a complete solution for health, safety, compliance and premises needs. A fully loaded training library is also included, which is widely used by a variety of corporate customers including DPD Group, Interserve, Dreams, Countrywide Group and Mountain Warehouse. The company has been nominated for Learning Start-up of the Year by the Learning Performance Institute in 2021.

The emergence of cost-effective e-learning training modules is a major driver of the global corporate training market, currently worth $200bn in size. Corporate training is increasingly seen as a key expense of any organisation, with lifelong learning becoming more important as career structures change and technology evolves. The market is expected to grow c.10% by 2022 as more organisations convert from traditional training methods to giving employees access to the digital content.

Luke Pargeter, CEO and Founder of iAM Compliant commented:

“This investment couldn’t have come at a better time for us. Our brands of iAM Compliant and iAM Learning are gaining real brand traction and are already enjoying global recognition. These funds will allow us to leverage our existing products and scale them, with a predicted focus on additional online compliance app functionality and even more stellar content covering a wide range of topics from mental health to soft skills and everything in between. We are truly excited to work within this partnership vehicle.”

Tom Gagen, Chief of Design added:

“We have some big ideas for our content roadmap, and we expect to add at least 150 titles to our existing library in 2021. The investment will allow us to bring these to market quicker, whilst maintaining the high quality visuals, engaging animation and character driven content we have already become famous for delivering.”

Tom Moore, COO and Co-Founder, summarised by commenting:

“Working through the investment process has already made our business stronger and we’re confident that the plans we have jointly agreed will really unlock our potential. It’s safe to say we’re ready to really ramp up our brands and help our customers meet the demands of their business training, health, safety and compliance needs. The investment will be immediately put to work, scaling up our content production line, securing the support of industry experts (in L&D and Health & Safety) and putting in place the infrastructure we need – in sales, marketing and account management – to see us quickly move forwards on our rapid revenue growth curve.”

James Rosthorn, Investment Manager at Maven Capital Partners commented:

“We are delighted to support the management team as they look to accelerate their international expansion and implement their ambitious business plan. There is significant potential for the iAM Compliant brand to disrupt the education market and beyond, and for the iAM Learning brand to gain global recognition through its outstanding online elearning library.”

Sue Barnard at British Business Bank said: 

“iAM Compliant is an innovative business that has grown significantly in its first two years of trading and already boasts a strong portfolio of high-profile clients. Ensuring these kinds of Northern businesses have access to finance and the means to grow will prove crucial as the UK looks to recover, and NPIF will continue to provide support in any way it can.”

The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.

—ends—

Principals and advisors

Maven advisors: Ryan Brown at Browne Jacobson (legal advice), Confidas People (management due diligence) and PriceRoberts (technological due diligence).

iAM Compliant advisors: David Culshaw at Porter Dodson (legal advice)

Further information

For media enquiries or any questions about the investment, please contact:

Maven Capital Partners
Emma Neal0191 731 8590[email protected]
Sapience Communications (PR to Maven)020 3195 3240[email protected]

Notes to Editors

About Maven Capital Partners UK LLP       www.mavencp.com

Maven Capital Partners UK LLP (Maven) is a lower-mid cap private equity house focused on the provision of growth capital and mezzanine finance to SMEs across the UK. It is one of the most active private equity fund managers in the country, managing over £415 million of assets for a variety of client funds, including Venture Capital Trusts, UK regional debt and equity funds, and Maven Investor Partners – a syndicate of institutional, family office and experienced investors.

Headquartered in Glasgow, and with ten other offices throughout the UK, Maven has nationwide coverage of the market for SME finance and is introduced to around 400 deals per year through 20 regionally based investment executives. With over 50 staff and partners, Maven executes a range of private company transactions, offers hands-on proactive portfolio management to investee companies and provides a fully integrated back-office support function to client and third-party fund managers. Since 2009 Maven has invested over £285 million in SMEs across the UK.

About The Northern Powerhouse Investment Fund

The Northern Powerhouse Investment Fund will invest in Microfinance, Business Loans and Equity Finance sub-funds which will offer financing ranging from £25,000 to £2m, specifically to help small and medium sized businesses secure the funding they need for growth and development.

The Northern Powerhouse Investment Fund is operated by British Business Financial Services Limited, wholly owned by British Business Bank, the UK’s national economic development bank. Established in November 2014, its mission is to make finance markets for smaller businesses work more effectively, enabling those businesses to prosper, grow and build UK economic activity.

The Northern Powerhouse Investment Fund is supported by the European Regional Development Fund, the European Investment Bank, the Department for Business, Energy and Industrial Strategy and British Business Finance Limited, a British Business Bank group company.

The NPIF covers the following LEP areas: Tees Valley Combined Authority, Greater Manchester, Cheshire and Warrington, Cumbria, Liverpool City Region, Lancashire, Humber, Leeds City Region, Sheffield City Region, York, North Yorkshire and East Riding.

The project is receiving up to £140,359,192 of funding from the England European Regional Development Fund as part of the European Structural and Investment Funds Growth Programme 2014-2020. The Department for Communities and Local Government is the Managing Authority for European Regional Development Fund. Established by the European Union, the European Regional Development Fund helps local areas stimulate their economic development by investing in projects which will support innovation, businesses, create jobs and local community regenerations. For more information visit https://www.gov.uk/european-growth-funding.

The funds in which Northern Powerhouse Investment Fund invests are open to businesses with material operations, or planning to open material operations, in, Yorkshire and the Humber, the North West and Tees Valley.

The British Business Bank has published the Business Finance Guide (in partnership with the ICAEW, and a further 21 business and finance organisations). The guide, which  impartially sets out the range finance options available to businesses and provides links to support available at a regional level, is available at www.thebusinessfinanceguide.co.uk/bbb

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Safiya Marzook

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