Today, Tenzing is proud to announce that we’ll be backing Robbie O’Brien, Founder & CEO, and the management team at MetaCompliance.
One of the biggest risks to a company is through the manipulation of people, and MetaCompliance understands this human aspect of cybersecurity. Robbie founded the company in 2005 when cybersecurity was often seen as someone else’s problem. The business’ pioneering cloud-based software enables companies to train their employees around cyber threats and to comply with regulatory requirements, thereby protecting against data breaches and avoiding hefty fines and reputational damage.
Its suite of products is unique in spanning both security awareness training, as well as compliance, with management workflow modules for data privacy compliance.
Security breaches represent an increasing risk for businesses, and companies of all sizes are driving the demand for cybersecurity protection and awareness solutions. The significant financial repercussions for data breaches under GDPR, in addition to reputational damage, have driven strong growth in the market, which is both COVID-resilient and growing at c.27% a year. The market is estimated to be worth $750m globally.
MetaCompliance operates across the UK, mainland Europe and the US and is well-positioned to capitalise on this growth. Due to a market-leading suite of products and consistent innovation, which has led to very strong customer retention, it has delivered a 3-year revenue CAGR of 56%. International sales are an increasingly significant part of the mix, and the company has an enormous white space opportunity.
Following our investment, we’ll support Robbie and management though our Growth Network, featuring our Entrepreneurs Panel and Domain Experts. Our goal is to help the business to maximise its potential by investing in new product development, sales, marketing, acquisitions and internationalisation.
Robbie said: “Our partnership with Tenzing marks an exciting and pivotal moment in the growth of our company. From the outset, it was clear that Tenzing understood the mission of the MetaCompliance team to become the leader in people-based cybersecurity. The growth team at Tenzing will make a significant impact on our scaling strategy and underpin our ability to maximize the opportunities in the cybersecurity and compliance marketplace.”
Guy Gillon, Founder and Co-Managing Partner of Tenzing, added: “We’re super excited about partnering with MetaCompliance. The company is in a large, rapidly growing, sticky sector and we’ve been so impressed by the potential of the management team. There is a strong overlap between the opportunities MetaCompliance has and the expertise and experience of our extended Growth Team. We really think we’ll be able to support Robbie and management to deliver significant growth in their market and help more and more companies stay safe in this increasingly complex environment.”
This is Tenzing’s 11th investment, and the first investment within our £400m Fund II, raised in 2020.