£103.5 million raised by Ideagen Plc to bolster international growth plans
Dec 09, 21
Leading global provider of information management software, Ideagen Plc, has today announced that it has raised £103.5 million to accelerate product investment and scale global operations through further acquisitions.
The multi-million pound investment was raised through placement of ordinary shares and follows Ideagen’s 12th consecutive year of revenue profit and growth.
Ideagen’s rapid growth trajectory in recent years has been accomplished by a combination of both organic growth and multiple acquisitions across the globe. The funds raised today will aid the company’s bold ambitions to support even more customers around the world with an increased range of solutions.
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 world renowned 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.
Ideagen CEO, Ben Dorks, said: “This investment marks the next stage of Ideagen’s exciting growth journey. Our mission is to surpass £200 million annual recurring revenue (ARR) 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 25th and biggest acquisition to date, that of Sydney-based CompliSpace and was also this week recognised as one of the world’s most innovative RegTech companies.
The honour marks the second consecutive year Ideagen earned a place on the RegTech100 2022 list of the world's most innovative providers that offer cutting-edge solutions, products and services in the areas of compliance, risk management and information security.
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.