A £1m boost has been handed to a Cheshire-based online compliance tool which works with the likes of DPD, Dreams and Mountain Warehouse.
iAM Compliant has received the 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 online learning topics and offers bespoke content build for larger international eLearning businesses.
The company first launched to the market in 2019 and also works with Interserve and Countrywide Group.
Chief executive and co-founder Luke Pargeter said: "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."
Chief of design Tom Gagen 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, chief operating officer and co-founder, said: "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.
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"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 and 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, added: "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."
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)
