Business

Derry-based tech firm eyes fresh growth drive after private equity backing

Derry-based MetaCompliance now employs 110 people.
Ryan McAleer

DERRY-based cyber security firm MetaCompliance has announced a new investment partner in a fresh growth and innovation drive.

The company founded in 2005 by Robbie O’Brien has grown to 110 staff, with offices in London, Dublin, Atlanta and Birmingham.

Its technology and training content is used by more than 900 organisations across the public and private sectors, with a focus on cyber security threats and regulatory compliance.

Now the cyber security firm has secured a fresh cash injection from London-based private equity specialist Tenzing.

The investment firm primarily focuses on high growth tech companies in the UK and northern Europe valued between £10 million and £200m.

It comes a few years after the Derry firm secured significant grant assistance from Invest NI to boost its growth and create new jobs.

MetaCompliance said its decision to now partner with Tenzing was driven by the fund’s strategic experience in growing similar-sized companies.

Chief executive Robbie O’Brien said the private equity fund has a shared belief in the ability of MetaCompliance to become a global cybersecurity force.

“We have been actively scaling our company and executing on our product strategy,” he said.

“We are excited about the new phase of expansion and believe that Tenzing are the ideal partners to help us realise our ambitions for future growth.”

Gareth Healy and Milan Kellner from Tenzing will join the Derry company’s board of directors, with the existing management team carrying on their roles, and investing further as shareholders in the business.

Guy Gillon, founder and co-managing partner of Tenzing, added: “We’re super excited about partnering with MetaCompliance.

“There is a strong overlap between the opportunities MetaCompliance has and the expertise and experience of our extended Growth Team.

“We really think we’ll be able to support Robbie and management to deliver significant growth in their market and help more and more companies stay safe in this increasingly complex environment.”

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