Member Article

NowWeComply secures $1.2m funding from Angel Lab and Boris Johnson’s London Co Investment Fund

Cloud-based compliance SaaS (Software-as-a-Service) solution provider NowWeComply Ltd has secured $1.2m funding from AngelLab and Boris Johnson’s London Co Investment Fund to drive growth.

Founded in 2011 by experienced SaaS entrepreneur Ben Stoneham and backed by serial tech angel investor Stephen Bullock, NowWeComply has secured more than $1.75m investment to develop the first dedicated compliance management platform in the cloud.

NowWeComply, which is headquartered on Great James Street, London, is used by staffing businesses and workforce management teams to manage the business processes impacted by the ever-changing compliance legislation found within many sectors including health and social care, financial, education and energy markets.

NowWeComply’s diverse client base, from FTSE 100 to SMEs, have benefitted from compliance processes being accelerated by up to 40%.

Commercial and regulatory compliance risks are better controlled and audits less distracting as the Directors of NWC clients can rely on the platforms enforcement of governance procedures and inbuilt fraud protection controls.

As a result workforce management teams are now redeploying critical staff to more value-added activities, like front line on-boarding, while the NWC platform automates repetitive tasks, controls and safeguards documents and provides a bullet proof audit trail.

Founder and CEO Ben Stoneham commented: “We know improved control of compliance enables growth and cuts costs. Two of our staffing clients, including Capita PLC, have used NWC to implement and control the offshoring of back office operations and expanded their businesses as a result. “

A strong part of the vision for the company is placing the NWC platform at the centre of a growing ecosystem via its ‘App store’ of pluggable 3rd party data services. Clients are already speeding up their processes by using the most popular App store services, such as qualification web checks and right to work checks, thousands of times a day.

Stephen Bullock, Founding Investor and NWC Chairman, added“ ’This funding is an endorsement of the exciting opportunity NowWeComply has to impact the GRC market and will support our continued rapid adoption in the Staffing sector as well as accelerate our entry into related workforce and HR compliance markets“

This was posted in Bdaily's Members' News section by Ellen Forster .