Encompass Corporation, the technology company that provides sophisticated analytic aggregation software for lawyers and insolvency practitioners, has been awarded investments totaling £3.6 million.
Scottish Investment Bank, the investment arm of Scottish Enterprise, has invested £1.8 million to help support the expansion of Encompass, whose UK head office is in Glasgow. A further £1.8 million was invested by Sydney-based Adcock Private Equity Group.
Founded in 2012 in Australia, Encompass provides sophisticated analytics software for financial and professional service firms. It established its UK head office in Glasgow in 2015 and has since expanded to thirty two employees in the UK.
The funding will enable Encompass to increase the numbers of domestic and international data suppliers which currently stands at twelve. 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 said: “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.”