Ideiio secures £2m in seed funding from Maven to enhance its technology platform and expand sales.
Maven provided £2m in seed investment to support software development and team expansion at Ideiio.
Ideiio is a Salford based cyber security company that provides identity governance and administration software for the mid market.
Ideiio has secured £2m in seed funding from Maven, operating through NPIF Maven Equity Finance. The capital will be deployed to enhance the company technology platform, expand sales and marketing operations, and grow channel partnerships.
The Salford based cyber security business targets the under served mid market with its identity governance and administration software, helping clients manage access rights and streamline compliance reporting. Maven backed the round to support the firm as it scales operations, including expansion into the United States.
Investor perspective
"Ideiio is an excellent example of a business which can benefit from equity investment through the Northern Powerhouse Investment Fund. It has developed an innovative software solution which is tapping into robust demand from businesses across a variety of sectors and geographies. We believe this investment will enable the business to achieve further scale, including in the large US market. The management team have an impressive range of technical expertise and experience within the identity security space and have a clear strategy for taking the business forward."
Ryan Bevington
Partner, Maven
Use of funds
- 01Continue product development
- 02Invest in sales and marketing
