The investment comes from The Capital Fund, a £50m fund for growing businesses in the Greater London area.
Iconium purports to be the market leader in the fields of corporate governance software and its clients include Family Investments, Rio Tinto, The Children’s Society, White & Case and Hiscox Insurance.
The company will use the investment to rollout the new products into what it considers to be a rapidly growing market; regulators are becoming increasingly stringent in all corporate activities, there are huge costs to falling foul of the rules.
Iconium says that research shows that companies that adopt a framework approach to corporate governance and compliance rather than case-by-case solutions can reduce costs by 90%.
Toby Waldock, chief executive of Iconium, said: “The investment from The Capital Fund will allow us to roll out new products and further develop relationships with our partner organisations, such as Logicalis, Thales, Vega plc and 2e2, and technology partners such as Cisco Systems, who take our solutions to market.”
“The Capital Fund were very efficient to deal with, and helped us through what could have been an extremely daunting procedure.”
© Crimson Business Ltd. 2007