Regtech startup Libryo has closed its most recent funding round at £1.35m. The round was led by Future Energy Ventures and supported by a range of existing and new investors, including the UK Government’s Future Fund and early Libryo supporter Nextlaw Ventures, which is a subsidiary of Dentons.
Founded in 2016, Libryo is a SaaS platform built to overcome regulatory complexity. It provides a dashboard which lists all of a company’s legal obligations per customer and across jurisdictions.
The solution provides five modules to support businesses with knowing, understanding and complying with their legal requirements, from tracking capabilities and customised legal registers, to a full set of collaboration tools, document storage and search capabilities.
Most recently the company launched Libryo Assess, a new module that helps organisations gain visibility of their compliance status and risk levels across each of their operating sites.
To date, over 400 customers and 15,000-plus users across more than 75 countries have used Libryo’s legal compliance software. The Libryo team spans 10 countries across seven different time zones. With the new funding, the company is focusing on providing EHS law to a range of industries, including energy producers, mining and metals companies, apparel brands & supply chains, FMCG and waste & recycling. It is also strengthening its partnership integrations to deliver whole solutions for enterprise customers with partners including IsoMetrix, Rubicon and CleanChain.
Malcolm Gray, Libryo co-founder and CFO, says: “Our positive customer feedback and strong partner support continue to give us confidence in what we are doing, and the strength to continue to make an impact. Together we will keep on having fun, making money, and doing something good as we help companies navigate an increasingly complex regulatory environment.”
“In a constantly shifting regulatory landscape, Libryo’s unique compliance management software enables users to keep pace with their regulatory and compliance requirements as their companies expand and scale,” says Jan Lozek, Managing Partner and co-founder of Future Energy Ventures. “We are proud to support the company in its next chapter of growth as it empowers compliance professionals to make faster, smarter decisions and focus on the business priorities that drive sustainability.”