The funding round was backed by Rainbow Seed Fund, Angel CoFund, and various angel groups.
"We have developed a unique product that solves a clear need in the important and rapidly growing governance, risk and compliance software market. To have closed this latest round is a significant moment for us and means that we can further enhance Contego and scale the business into new market sectors. We believe that providing cost effective tools to address compliance, fraud and other business risks will be game-changing for many businesses, both in the UK and internationally."
The funding round was led by Leopard Rock Capital with participation from angel investors.
"A $30 billion market opportunity, the cloud offers tremendous growth opportunities for service providers that can scale, deploy and configure cloud services simply and cost effectively,"
The investment was led by Scottish Equity Partners to finance the creation of a combined document collaboration business.
"By joining forces with Workshare, we are uniquely positioned to help knowledge-based employees improve productivity, without sacrificing enterprise information security requirements. The investment will enable us to deliver on our plans for developing the most comprehensive, effective and secure collaboration platform on the market that integrates into existing productivity, document management and enterprise content management applications."
