An ID management technology company that works with the likes of WWF, Tesco Bank and Stanley Black & Decker has secured a £15m investment.
ProofID has been backed by Maven Capital Partners and will use the additional funds to "accelerate its growth ambitions" and make new acquisitions.
The company was founded in 2014 and provides consultancy and managed services for enterprise customers across the UK, Europe and North America from its headquarters in Salford and an office in Colorado Springs.
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The investment will enable the business to grow its partnership with Ping Identity and develop complementary deals with other IAM vendors.
It will also support the company’s acquisition strategy as well as enabling further investment in its sales, marketing and technical resources.
Tom Eggleston, CEO at ProofID, said: "Our partnership with Maven is a major milestone for ProofID.
"This investment gives us the platform to add new services and vendor partnerships to our portfolio to better serve our customers. We are excited about the prospect of working with the team at Maven to grow and develop our business over the coming years."
Jeremy Thompson, investment director at Maven, added: "The investment in ProofID represents an attractive opportunity for our buyout fund to add a high-quality cyber security business to its portfolio.
"The business has experienced significant growth since it was established and benefits from high levels of recurring revenue.
"IAM is increasingly important to businesses and a key enabler to other aspects of cyber-security, including zero-trust strategy.
"Tom and the ProofID team are highly experienced and well regarded within the sector. We are excited to work with them and support the next stage of ProofID’s growth."
