Private equity investor Tenzing has announced a significant investment in NI cyber-security firm MetaCompliance.
Northern Ireland's cyber-security field has grown significantly over just the last few years thanks to significant investments in local companies. With a base in Derry, cyber-security firm MetaCompliance has become a key player in the local Governance Risk and Compliance (GRC) market, providing a cloud-based platform for staff training and policy management.
Private equity investor Tenzing has now confirmed that it's investing in MetaCompliance in order to accelerate the company's growth. Tenzing invests in high-growth UK and Northern European SMEs valued at between £10m and £200m, specifically looking for upcoming market challengers with the potential to disrupt the markets they operate in.
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MetaCompliance currently employs 110 people and has clients around the world, with its training content being used by over 900 organisations to improve staff awareness of cyber-security threats and to demonstrate compliance with security regulations to national regulators. The new investment will be used to continue R&D on the firm's products and to rapidly expand its workforce.
Robbie O’Brien, CEO of MetaCompliance, commented: "The people aspect of information security and compliance is a fast-growing and exciting market. We have been actively scaling our company and executing on our product strategy. We are excited about the new phase of expansion and believe that Tenzing are the ideal partners to help us realise our ambitions for future growth."
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Guy Gillon, Founder and Co-Managing Partner of Tenzing, added: "We’re super excited about partnering with MetaCompliance. There is a strong overlap between the opportunities MetaCompliance has and the expertise and experience of our extended Growth Team. We really think we’ll be able to support Robbie and management to deliver significant growth in their market and help more and more companies stay safe in this increasingly complex environment."
Source: Written based on press release, Tenzing announcement
