REG - Sure Ventures PLC - Getvisibility secures new funding

Sure VenturesAnnouncement

11/03/2022 07:15

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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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