Getvisibility secures new funding

RNS Number : 4776E

Sure Ventures PLC

11 March 2022

 

Sure Ventures plc ('Sure Ventures' or 'the Company')

Getvisibility secures new funding at a significantly increased valuation

Sure Ventures plc, a London listed venture capital fund which invests in early-stage software companies in the rapidly growing technology areas of Augmented Reality ('AR'), Virtual Reality ('VR'), Internet of Things ('IoT') and Artificial Intelligence (AI), is pleased to announce the completion of a €10 million funding round for Getvisibility, an artificial intelligence-based data discovery, classification and protection platform company. The exposure to Getvisibility has been taken via the investment in Sure Valley Ventures "ICAV fund".

Getvisibility has successfully raised €10 million in equity from new investors Alpha Intelligence Capital ("AIC"), a global venture capital firm which invests in deep artificial intelligence/machine learning technology-based companies and Fortino Capital Partners ("Fortino"), a leading B2B software venture capital and growth equity firm.  

Certain existing investors, including Sure Valley Ventures and Pires have also made follow-on investments alongside AIC and Fortino and other additional new investors. As part of this funding round, Sure Ventures PLC will invest a further 310,773 Euros from existing cash resources as part of the follow-on round.

Getvisibility has made significant progress in both winning customers and identifying customer needs, in what is clearly a requirement that has become "front and centre" to commercial operations across the globe. This round of funding, based on the post funding round valuation of Getvisibility, provides a 4x uplift to our original investment.

Getvisibility, is a leader in data visibility and control, using state-of-the-art artificial intelligence ("AI") to classify and secure unstructured information. Getvisibility also provides risk and compliance assessments as well as enforcing protection on sensitive data. The company operates across the US, Europe and the Middle East and North Africa with a presence in several industry sectors including banking, healthcare and the public sector. Getvisibility's clients include a leading global producer of energy and chemicals, a major airport group, one of the largest financial institutions in the Middle East as well as US government entities in the pharmaceutical and manufacturing sectors.

The funds raised will be used to build out the senior management team, further develop the route to market and deliver the company's near-term strategic plan. Importantly, this is another portfolio company that has successfully progressed from our initial "seed round investment" in a short investment time horizon.

 Gareth Burchell, Director comment:

"Getvisibility is an AI software company with a clear use case, that helps solve major data visibility issues, in a world where Cybercrime risks are at the forefront of Governments, Local authorities, Business leaders and business owners all over the globe.

This deal has attracted global venture capital investors, such as AIC and Fortino, which validates the calibre of their technology and capability. This latest funding round to raise €10 million, will allow the company to make the most of the significant market opportunity they can service. We are very excited with potential this can bring our investors."

Enquiries:

Sure Ventures PLC

Gareth Burchell

Director

0207 186 9951

Corporate Broker

Damon heath

Shard Capital

0207 186 9952

 

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