£1.95m backing for behaviour firm
Maven invests in online monitoring business
Maven Capital Partners, the Glasgow-based private equity house, has invested £1.95 million in a company which monitors online abuse and cyber bullying in schools and colleges.
The funding will enable eSafe Global to capitalise on market opportunities created by new laws, regulations and political pressures to build more online safeguards into the education sector.
The new investment will also support the expansion of eSafe’s sales, marketing and operational teams at its Salford headquarters, along with further development of its innovative service and technology platforms.
Maven has worked closely with eSafe’s management team over the past two years, following investment in the business in 2015 by the Greater Manchester Loan Fund which Maven manages on behalf of the Association of Greater Manchester Authorities.
The transaction is being jointly funded by Maven’s Venture Capital Trusts and the GMLF, which are investing £1.6 million and £350,000 respectively.
Craig Hopwood, investment director at Maven, said: “eSafe has been able to grow its client base and maintain impressive customer retention levels.
“The knowledge and expertise of the eSafe behavioural analysts, coupled with sophisticated software and technology, is impressive.
“It is proven within the market, having already ensured the online safety and well-being of hundreds of thousands of pupils, students and staff across the UK.
“More than ever schools and colleges are being impacted by legislation and eSafe is benefitting from this increased regulation.”