Encompass Corporation, a technology company that provides analytic aggregation software for lawyers and insolvency practitioners, has secured investments totalling GBP3.6 million.
The Scottish Government’s development arm and Australia’s Adcok Private Equity Group have each invested GBP1.8 million in the company.
Founded in 2012 in Australia, Encompass provides analytics software for financial and professional service firms. It established its UK head office in Glasgow in 2015 and has since expanded to 32 employees in the UK.
The funding will enable Encompass to increase the numbers of domestic and international data suppliers which currently stands at 12. This will further speed up the viability assessment and onboarding of new clients for the legal profession. In addition it will allow the software to be used by the broader financial services community to meet their regulatory requirements for Anti-Money Laundering and Know Your Customer.
Wayne Johnson, co-founder and CEO of Encompass, says: “This funding will enable us to fast-track our product development and enhance the offering to the legal services market. It will also support our launch of Encompass Confirm, a solution for financial services firms who are looking for an answer to the Know Your Customer /Anti-Money Laundering headache.”
