Contego secures further funding
Contego Fraud Solutions, a the rapidly growing Oxfordshire-based risk management software company, has announced that they have raised £900k in their latest investment round. This follows early investment in 2012 by seed angels and the Cass Entrepreneurship Fund, making the total raised to date £1.4m. Investment has been secured from the Rainbow Seed Fund; the Angel CoFund; select business angel groups London Business Angels, Surrey 100 and Thames Valley Investment Network; and new angels who have joined existing angels following-on in this round. Matt Slatter and Howard Sarna, experienced angel investors, have both invested and will join the Board.
Contego is an innovative software platform that performs due diligence and risk analysis on individuals and companies, with applications across a wide range of industry sectors, including: business centres and virtual offices; recruitment; pre-employment screening; property and financial services – and any sector with intelligence sharing requirements.
The investment will allow Contego to expand its sales and marketing team in the UK and accelerate revenue growth within target segments following the successful launch of the system and early commercial traction.
Contego Founder and CEO Adrian Black commented, “We have developed a unique product that solves a clear need in the important and rapidly growing governance, risk and compliance software market. To have closed this latest round is a significant moment for us and means that we can further enhance Contego and scale the business into new market sectors. We believe that providing cost effective tools to address compliance, fraud and other business risks will be game-changing for many businesses, both in the UK and internationally.”