TIDMSURE
RNS Number : 5152F
Sure Ventures PLC
10 March 2020
SURE VENTURES PLC / ISIN: GB00BYWYZ460 / Ticker: SURE / Market:
SFS / Sector: Investment
10 March 2020
Sure Ventures plc ('Sure Ventures' or 'the Company')
New Investment in Getvisibility, an AI Security Company
Sure Ventures plc, a London listed venture capital fund that
invests in early stage software companies across a range of
high-tech verticals, is pleased to announce that Sure Valley
Ventures ('Sure Valley'), in which it holds a circa 25.9% interest,
is leading a EUR1,250,000 investment round in Getvisibility, an AI
security company.
Overview
-- Sure Valley has invested EUR750,000 in Getvisibility as part of EUR1,250,000 investment round
-- Proprietary software that leverages AI to discover, classify and protect critical data
-- Notable blue-chip client base and strong pipeline of new business opportunities
-- Capital raised will be used to accelerate international go to market initiatives.
Sure Valley CIO, Barry Downes, said, "Getvisibility's software
leverages AI to discover, classify and protect critical data. With
a world-class team, proprietary technology and given its total
addressable market is $4 billion today, Getvisibility's opportunity
is vast. It already has an impressive list of blue-chip clients
across various sectors including oil & gas, finance and
healthcare, and is growing rapidly. We look forward to supporting
the company on its exciting journey as it scales global sales."
Getvisibility CEO & Founder, Ronan Murphy, said, "Given our
global ambition to build a business with international scale and
further strengthen our blue-chip client base, we are delighted with
this investment. We are particularly pleased to have the support of
notable investors, which have track records recognising and
investing in other successful high-tech companies."
Details
Cork, Ireland based Getvisibility provides an enterprise
security product that helps organisations manage the 80% of their
data that is unstructured, i.e. Word, Excel, PowerPoint, Pdf,
versus the other 20% being data in databases. In doing so,
Getvisibility helps organisations gain control over unstructured
data, categorise it and make it organised, protectable, migrated to
the cloud and searchable. In essence, the software enables
companies to quickly visualise their data footprint, where new and
changing data risks have surfaced thus allowing for proactive data
management and security.
Getvisibility's technology utilises the latest in Deep Learning
AI, a lightweight enterprise architecture that provides fast and
accurate visibility of all the data within the clients'
environment. Notably, it removes the need for large teams of people
to try and deal with this problem manually and eliminates the need
for legacy tech that attempts to tackle this problem using regex or
dictionary look up. Getvisibility's highly scalable AI models are
adapted for specific data structures on a per industry basis and
can process and understand unstructured information as it is being
created.
Having launched its software in 2018, Getvisibility already
boasts an impressive international blue-chip client base including
leading insurance, healthcare, data provision and accountancy
businesses such as Ireland's largest healthcare provider, Laya
Healthcare, and FBD Insurance plc. It also has a strong pipeline of
advanced diverse new opportunities. Accordingly, to help scale its
global sales, Getvisibility has raised EUR1,250,000 in an
investment round led by Sure Valley Ventures, which has invested
EUR750,000, and which includes other investors such as AIM listed
Pires Investments PLC.
Post the investment, Getvisibility is strengthening its board
with the appointments of Sure Valley Ventures Partner, Brian
Kinane, and software industry veteran Ferras Zalt.
Mr. Zalt has held positions at the NASA Space Agency, and Compaq
Computer Corp. in the USA. In 1995, he founded SoftTech, an IT
consultancy business with a focus on the energy sector to
capitalise on the need for specialist IT technical services
particularly in the Oil and Gas sector. SoftTech grew rapidly and
went on to deliver the largest SAP installation in the world at the
time for Saudi Aramco. In 2001, Mr. Zalt sold the company to Atos
Origin achieving several fold returns on invested capital and
remained on as CEO to drive the business to further success. In
2005, as a result of a global repositioning strategy, Mr. Zalt had
the opportunity to lead a management buyout of the company and
within two years sold the company to Hewlett Packard, achieving
significant returns to investors. In 2010, he led an investment
management buyout in Gulf Energy, an Oil and Gas full-service
company; in three years, he sold the investment achieving healthy
returns. More recently, in 2019 Mr. Zalt took up a position of
Executive Chairman of TSX listed Elixxer Ltd.
Mr. Kinane is an experienced industry software technology
entrepreneur and investment manager with extensive corporate
technology experience including product management roles at global
telecom companies such as Ericsson Group and Telenor Group and
executive roles at venture capital-backed technology start-ups. Mr.
Kinane has had a successful track record as an alternative
investment manager, having funded over 100 companies and achieving
attractive returns for fund investors.
- ENDS -
For further information, please visit
https://surevalleyventures.com/ or contact:
+44 (0) 20 7186
Gareth Burchell Sure Ventures 9951
St Brides Partners +44 (0) 20 7236
Isabel de Salis (Financial PR) 1177
-------------------- -----------------
Susan Brennan Getvisibility +353 86 141 5150
-------------------- -----------------
Notes to Editors
Sure Ventures plc listed on the London Stock Exchange in January
2018 to give retail investors access to an asset class that is
usually dominated by private venture capital funds. The Company
aims to provide investors with a diversified exposure to three
rapidly growing markets: augmented reality/virtual reality, fintech
and Internet of Things. Sure Ventures is focusing on companies in
the UK, Republic of Ireland and other European countries, making
seed and series A investments in companies with first rate
management teams, products which benefit from market validation
with target revenue run rates of at least GBP400,000 over the next
12 months.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
MSCUPUPGWUPUGBB
(END) Dow Jones Newswires
March 10, 2020 03:00 ET (07:00 GMT)
Grafico Azioni Sure Ventures (LSE:SURE)
Storico
Da Mar 2024 a Apr 2024
Grafico Azioni Sure Ventures (LSE:SURE)
Storico
Da Apr 2023 a Apr 2024
