EncompaaS targets global growth after $A14M funding
Enterprise compliance SaaS provider EncompaaS has completed a $A14 million capital raise led by CVC Emerging Companies, Future Now Capital, and Marshall Investments. The SaaS entrant will now further develop and take its suite of cloud-based enterprise content management and compliance products to global markets.
EncompaaS is a rapidly emerging SaaS compliance platform that delivers intelligent, automated information governance across on-premises and cloud content repositories and cloud application services.
EncompasS CEO Jesse Todd said, “Organisations are under enormous pressure to meet complex regulatory requirements for managing content appropriately. Hybrid working environments driven by COVID are exacerbating this risk with more content being created in cloud collaboration tools than ever before.
“Understandably boards are increasingly concerned about their ability to demonstrate appropriate compliance to both regulators and their customers, and potentially putting their licence to operate at risk.
“Utilising AI & machine learning the EncompaaS platform takes a unique approach to identify, visualise and manage key compliance risks across the enterprise at scale. This allows executives and boards to demonstrably prove that they are responding rapidly and responsibly, while protecting their organisations.
“The need to manage vast amounts of content under increased regulatory pressure has created an excellent growth opportunity for EncompaaS. This investment round will underpin our scaleup strategy, increase our international sales presence and fund further product development,” Jesse Todd said.
EncompaaS was recently awarded significant contracts from one of Australia’s top five banks and a large NSW Government department, and has a strong global pipeline. The company has also established offices in the UK and US, recently adding a major European bank to its client list.