London-based due diligence and HR screening platform Neotas has secured £1m in its latest equity round.
The capital was supplied by Symvan Capital, Force Over Mass and a number of other unnamed private investors.
Through the new line of equity, the company is hoping to reinforce its platform and technology development. Alongside this, the company is looking to expand its team of advanced analysts and increase its sales and marketing efforts.
Founded in 2017, the company analyses the digital movements of individuals to help organisations generate deeper insights in background, behaviour and networks. Its solution lets investors and employers to screen key personal, safeguard their investments, mitigate fraud and insider threats and meet necessary compliance standards.
Enterprises can use Neotas for their HR and onboarding processes, with the platform investigating risk factors such as violence, racism and explicit content. The technology identifies information around the individual, their behaviours and their online presence.
Private equity and venture capital firms can also use the service to give better insights into their investments.
Symvan Capital investment director Nicholas Nicolaides said, “People are the biggest risk in any organisation. Neotas allows businesses to access the wealth of information available in today’s digitally interconnected world to safeguard their operations and investments.
“Driven by both changes in the regulatory environment and the exponential growth of available information, the company’s client base has been expanding steadily, and this investment will allow it to propel its growth to a new level.”
Copyright © 2018 RegTech Analyst
