Cloud compliance SAAS firm NowWeComply has raised a $1.2m pre-Series A round from AngelLab and the Mayor’s London Co Investment Fund.
The startup, which launched in 2011, works with FTSE 100 companies and SMEs to help manage compliance, risk and governance through a suite of open APIs and apps.
Founder and CEO Ben Stoneham, said: “It has also been exciting to see how NowWeComply has been an engine for client growth. Two of our staffing clients, including Capita PLC, have used NWC to control the offshoring of back office operations and expand their capacity to grow their business.
“Now the AngelLab and LCIF funding will power up our growth and enable us to build on our successful track record in the staffing and recruitment sector to serve new vertical markets.”
Managing Partner of AngelLab Andrew Fullerton has joined NowWeComply’s board. He said: “We were attracted by the huge growth potential in the compliance sector and the fact that NowWeComply already has an enviable client roster, including serving Footsie 100 companies. With their fully developed tech platform in place our funding can be focussed on supporting sales growth.”
The company has been backed by more than $1.75m investment in its development, which came from a group of founding investors, including Stephen Bullock, who sits as NWC chairman.