UK-based, iAM Compliant, which specialises in providing eLearning courses and a cloud-based compliance platform, has successfully secured a funding round.
The £1.42m investment was spearheaded by Maven Capital Partners (Maven), recognised as one of the UK’s most engaged investors in burgeoning businesses. This funding round was a combined effort with Maven VCTs and NPIF Maven Equity Finance.
iAM Compliant stands out in the edtech market with its unique bifurcated business model. One arm, iAM Learning, extends a comprehensive library of eLearning courses, covering topics from health and safety to mental health, while the other arm, iAM Compliant, offers a cloud-based software platform for estates and compliance management. Their primary focus is to service the education sector, granting schools access to its exclusive learning library to support their training requirements.
The fresh funds of £1.42m will be harnessed for several of iAM’s growth strategies. These include product development for their compliance software and eLearning library, and bolstering their sales and marketing departments.
iAM has displayed impressive financial growth since Maven’s initial investment in 2021, with annual recurring revenues quadrupling. This round builds upon the prior £1m investment made by Maven through NPIF Maven Equity Finance, another fund managed by Maven and part of the Northern Powerhouse Investment Fund (NPIF).
Maven Investment Director James Rosthorn said, “Maven is delighted to maintain its support for iAM following the company’s consistent commercial growth in recent years. We’ve been impressed by the ambition and drive demonstrated by the management team, as well as the strong performance of both business units in developing compelling propositions and ensuring customer retention.
“Furthermore, we acknowledge the immense value within the sectors iAM’s divisions operate, which are currently undergoing substantial growth and witnessing robust merger and acquisition activity. This additional investment will enable iAM to further expand its client offering and achieve significant revenue scaling.”
Echoing this sentiment, iAM Compliant COO Tom Moore added, “We are absolutely delighted with this follow-on investment round, supported by Maven and NPIF. Since the initial investment round, we’ve seen strong growth coupled with further development of our product offerings.
“This investment allows us to build on our increasing market position and accelerate our learning library and compliance product plans as well as our head office capabilities (in sales, marketing and customer delight). The really exciting part is that we’ve already been challenging the competition, but now we can really start to shake things up.”
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