London-listed Ideagen has raised £103.5 million via a share placing to accelerate product investment and scale global operations through further acquisitions.
The Nottingham-headquartered RegTech has made 25 acquisitions to date, leading to 12 consecutive years of revenue and profit growth.
Now with more than 1,000 staff across the globe, Ideagen’s operations are located throughout the UK, US, Australia, Europe, Middle East and South-East Asia.
Its quality, audit and risk software is already used by more than 7,500 highly regulated customers across multiple industries such as aviation, financial services, life-sciences, healthcare and manufacturing.
“This investment marks the next stage of Ideagen’s exciting growth journey,” said CEO Ben Dorks.
“Our mission is to surpass £200 million annual recurring revenue by April 2025 and this significant milestone will be crucial in aiding further expansion that will help diversify our portfolio of high-quality, high-performing products in the global governance, risk and compliance space.
“The ability to raise such substantial funds shows that the markets are as confident in Ideagen’s performance as we are. The acquisitions we have made to date have brought technology or intellectual property that enhances the functionality of our core solutions, increased our credibility and market presence, or offered opportunities for new market entry.
“We’re tremendously excited to see what the future holds for Ideagen and I look forward to our bold vision to grow both our geographical and sector expertise becoming a reality.”
The company recently completed its biggest acquisition to date, that of Sydney-based CompliSpace.
Ideagen has a diversified customer base including blue chip, global brands such as Heineken, British Airways, BAE, Aggreko, US Navy, Bank of New York and Johnson Matthey, as well as 250 hospitals across the UK and US.