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The Capital Fund invests in Compliance Software Entrepreneurs

The Capital Fund has announced a significant investment in Iconium, a market leader in the provision of governance, risk and compliance framework solutions. A £50 million venture capital fund, The Capital Fund invests in fast-growing companies based in the Greater London area.

Iconium, specialists in intelligent governance software, will use the capital injection to roll out new business compliance and management platforms.

The Company is operating in a rapidly growing market. As regulators take a closer interest in all corporate activities, the huge costs of falling foul of the rules, in terms of fines, downtime and bad publicity, are not worth risking.

So companies of all sizes must now be ever more diligent with compliance issues – in the wake of some high-profile corporate scandals, there is a growing array of regulations and requirements that must be met. And research by Gartner has shown that companies adopting a framework approach rather than case-by-case solutions to compliance can make massive savings, bringing compliance costs down by 90%.

Toby Waldock, Iconium CEO, said: “Our products are unique, allowing an organisation to automatically and remotely enforce company policy, process and procedural compliance across its entire workforce. If you are, for example, a bank that must comply with certain money laundering legislation, you want to make sure your employees, at whatever level, are doing so. If you have an employee who has not complied with the rules, our system will lock him out and take him through the correct procedures until he has satisfied the requirements.”

But these days it’s not just in the financial services sector that such due diligence is required and Iconium’s “library” facilities mean that the company’s products can be adapted to the requirements of every sector.

It is the enforcement capability that is the unique selling point setting Iconium’s products apart from its competitors. Iconium’s solutions are also designed to be easily matched to a client’s business processes, streamlining the control of policy and procedures. Information regarding compliance issues can be distributed to all relevant employees, and reports generated that analyse the state of compliance across divisions or the entire organisation.

This degree of flexibility and interactivity has attracted companies like Family Investments, Rio Tinto, The Children’s Society, White & Case and Hiscox Insurance to make Iconium’s solutions an integral part of their performance and compliance management systems

Iconium is already the market leader in the UK and is looking to enter the US market within the next 12 months. Mr Waldock said: “The investment from The Capital Fund will allow us to roll out new products and further develop relationships with our partner organisations, such as Logicalis, Thales, Vega plc and 2e2, and technology partners such as Cisco Systems, who take our solutions to market.”

Commenting on the fundraising process, Mr Waldock said: “The Capital Fund were very efficient to deal with, and helped us through what could have been an extremely daunting procedure. I was impressed that they saw the potential in our market, and our leadership within it – and Helen Reynolds was always available with help and advice to ease the process of completing our funding round.”

Helen Reynolds, Investment Manager at The Capital Fund, commented: “We know from our own business the importance of compliance management, and so were delighted to be able to invest and help Iconium develop its widely applicable solutions. I look forward to working with Toby and the team, and to the further success of the company.”

Helen Reynolds, Investment Manager at The Capital Fund, congratulates Toby Waldock, Chief Executive Officer of Iconium, UK market leaders in intelligent governance software. Iconium will use the capital injection to roll out new business<

Publisher Contact Information:

The Capital Fund
+44 (0)1865 811199

Company profile of The Capital Fund
Past press releases of The Capital Fund.


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