David Culshaw, partner in the Porter Dodson Corporate Commercial Team, has acted for iAM Compliant Limited (iAM) on its recent second round of investment from Maven Capital Partners.
The deal secured £1.42m investment from Maven, one of the UK’s most active investors in growing businesses, for Chester-based iAM who specialises in offering eLearning courses to enterprise customers as well as a cloud-based estates and compliance platform tailored for the education market.
David and Porter Dodson had previously acted for iAM on Maven’s initial £1 million investment in iAM in 2021 completed through NPIF Maven Equity Finance, managed by Maven Capital Partners and part of the Northern Powerhouse Investment Fund, a fund it manages on behalf of the Northern Powerhouse Investment Fund*.
David commented, “We are delighted to have been able to help iAM for a second time, with the most recent round of funding. Having got to the know the business and the management team back in 2021, we were very pleased to see that the business continues to grow and that there is real confidence in the product offering. The future looks really bright!”
The newly secured funding will be utilised to support iAM's ongoing growth initiatives. This includes further enhancing its compliance software and its eLearning library through product development, as well as strengthening its sales and marketing operations. Since Maven's initial investment in iAM over two years ago, the company has achieved significant growth, with annual recurring revenues quadrupling.
Tom Moore, Chief Operations Officer and Founder of iAM Learning added, “We are absolutely delighted with this follow-on investment round, supported by Maven and NPIF which allows us to build on our increasing market position and accelerate our learning library and compliance product plans. The additional round also gave us the opportunity to work with David Culshaw and Porter Dodson, once more, who expertly advised us and made the whole legal side of the investment painless and seamless.”
James Rosthorn, Investment Director at Maven Capital Partners said, “Maven is delighted to maintain its support for iAM following the company's consistent commercial growth in recent years. We’ve been impressed by the ambition and drive demonstrated by the management team, as well as the strong performance of both business units in developing compelling propositions and ensuring customer retention. Furthermore, we acknowledge the immense value within the sectors iAM's divisions operate, which are currently undergoing substantial growth and witnessing robust merger and acquisition activity. This additional investment will enable iAM to further expand its client offering and achieve significant revenue scaling.”
The Corporate Commercial Team advised iAM on all legal aspects of the investment, led by David Culshaw and supported by Remziye Aldogan.
*The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.
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