Contego Fraud Solutions, an Oxford, UK-based risk management software company, raised £900k in funding.
Backers include a syndicate of London Business Angel Investors (including an investment by the LBA EIS Roundtable Synidcate Fund 2013), the Rainbow Seed Fund; the Angel CoFund and other investors. In conjunction with the funding, angel investors Matt Slatter and Howard Sarna (who have both invested in Contego) will join the Board.
The company, which had previously raised in 2012 by seed angels and the Cass Entrepreneurship Fund, intends to use the funds to expand its sales and marketing team in the UK and accelerate revenue growth.
To date, it has raised £1.4m.
Founded by CEO Adrian Black, Contego provides a software platform that performs due diligence and risk analysis on individuals and companies, with applications across a wide range of industry sectors, including: business centres and virtual offices; recruitment; pre-employment screening; property and financial services – and any sector with intelligence sharing requirements.