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."
BGF has acquired a minority stake and a board seat in the precision component manufacturer.
"BGF has invested in a number of exciting manufacturing businesses to date and it is fantastic to be able to welcome VTL into this group. Employing over 300 skilled staff in the UK alone, VTL is a prime example of a Yorkshire manufacturing firm with its heart in the UK and operations across the globe."
The investment takes total funding to £1.2m and will be used to accelerate product development.
"We are very happy to have EC1 Capital on board. Winning our first VC investor is an important milestone for the company, and will help accelerate our product development."
Business Growth Fund has provided growth capital to back the Scottish toiletries manufacturer.
"Everyone working at Arran Aromatics is deeply passionate about the brand and incredibly proud of its global recognition. After the hard work by all of our employees over the past four years, there is a new confidence in the business. BGF’s growth capital investment will go towards brand development, upgrading our IT infrastructure, investing in our retail estate and allow for a significant investment in our e-commerce capabilities to drive our online business."
