CoComply Raises £1.9 Million in Latest Funding Round
CoComply, a UK-based RegTech company, has successfully raised £1.9 million in an undisclosed funding round. The round was led by NPIF – Mercia Equity Finance, with participation from Haatch and several notable investors including Richard Law, Seb Timpson, and Stephen Cann. CoComply, headquartered in Alderley Edge, specializes in helping enterprises manage contractor compliance and mitigate classification risks across their supply chains.
Strategic Investors
The funding round saw significant backing from NPIF – Mercia Equity Finance, alongside Haatch, a UK venture capital firm. Richard Law, the former CEO of GBG, Seb Timpson, co-founder of With Intelligence, and Stephen Cann, CEO of Bollin Group, also participated in this round, bringing their expertise and strategic guidance to support CoComply's growth plans.
Plans for Expansion
CoComply intends to utilize the funds to enhance its external workforce compliance platform and expand its reach across the UK and international markets. The platform is designed to help medium-sized and large businesses manage external workers more effectively by identifying compliance needs and reducing associated risks. By combining advanced technology with expert guidance, CoComply aims to facilitate better workforce decisions as regulatory and governance demands continue to grow.
Leadership Insight
Michael Cleavely, Founder and CEO of CoComply, expressed confidence in the company's direction following this funding round. He noted the importance of adapting to evolving regulatory landscapes and emphasized the role CoComply's platform plays in helping businesses navigate these complexities efficiently.
CoComply's innovative approach to workforce compliance positions it well to address the increasing demands of today's business environment. With new funding and strategic investor support, the company is set to further its impact in the compliance sector.