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eCompliance receives $40M investment from Alcumus

DCN News Services
eCompliance receives $40M investment from Alcumus

TORONTO — Alcumus Holdings Limited, a U.K.-based software-led risk management solution provider, has secured a $40-million strategic investment in eCompliance, a Toronto-based workplace safety software company.

Together, the company will become the leading software organization supporting safer and healthier workplaces in both Europe and North America, indicates a release issued by the companies. eCompliance will operate as the North American arm of Alcumus, providing access to the North American market for an expanded portfolio of Alcumus products, as well as accelerating investment in its core product, adds the release. Alcumus is backed by Inflexion, a private equity firm.

“Joining forces with Alcumus enables us to accelerate our journey of innovation in health and safety which we started in 2013,” said Adrian Bartha, CEO of eCompliance, who will continue to lead the business, in a statement. “We were first to market with a mobile app to drive frontline safety participation and now we’re ready to make another leap forward. Teaming up with Alcumus allows us to bring the most innovative products and ideas from both companies to the workforces across North America, the U.K. and Europe.”

“We have been very impressed by the quality of everything we have seen in eCompliance, from the technology that runs through their products to the people and management that we have met, and both organizations share the same mission and values,” said Alyn Franklin, CEO of Alcumus, in a statement. “eCompliance will bring access to an exciting new market as well as additional technology capability as we continue to provide cutting edge services to the growing range of businesses that we support. We are very excited by this acquisition and look forward to welcoming eCompliance into the Alcumus family.”

The Daily Commercial News will have more on this story.

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