Chester-based education software company iAM Compliant has scored £1.42m from regional investment firm Maven.
Edtech iAM Compliant provides an e-learning library and compliance management software, which is targeted towards schools.
Its compliance checking covers tasks associated with school management, health and safety, and incident reporting.
“This investment allows us to build on our increasing market position and accelerate our learning library and compliance product plans as well as our head office capabilities (in sales, marketing and customer delight),” said Tom Moore, COO of iAM Compliant.
The financial support for the firm comprises £1.1m from Maven’s VCTs venture capital trusts (VCTs) and £320,000 from the Northern Powerhouse Investment Fund.
Maven’s investment director James Rosthorn said there is considerable growth and healthy merger and acquisition activity happening in the areas the company works within.
“This additional investment will enable iAM to further expand its client offering and achieve significant revenue scaling,” added Rosthorn.
iAM Compliant’s latest investment follows an earlier £1m from Maven in 2021.
Keira Shepperson, director of regional funding at British Business Bank, said: “iAM Compliant has social impact at its heart by helping schools become more compliant in a world that is rapidly becoming more digital every day.”
Investor Maven recently had its contract managing the £20m Finance Durham Fund renewed for a further five years.