We are pleased to confirm that Deepbridge has supported investee company VoxSmart in successfully completing a $25 million (£18 million) growth equity financing round to expand its multi-award-winning markets surveillance technology suite.
We believe that this funding will now enable the Company to increase the rate of its, already impressive, growth and ultimately lead to an appealing exit opportunity for our investors in due course.
The lead investor in this investment round is multi asset fund management firm Toscafund Asset Management LLP and is one of the largest fundraises conducted for the RegTech and Compliance sector.
Prior to the Toscafund investment, Deepbridge invested in excess of £10 million into VoxSmart via the Deepbridge Technology Growth EIS fund.
VoxSmart provides global firms with innovative voice and electronic communications analytics and remote compliance solutions, enabling businesses to supervise communication conducted on a range of different voice and digital platforms for risk and compliance purposes.
The investment will fund further expansion and growth particularly into North America and the emerging markets as well as product development in key areas such as instant message capture on emerging channels such as Telegram and Signal as well as enhanced employee risk and productivity analysis.
Demand for cloud-based surveillance technology has grown significantly as employees are required to adhere to increased compliance and reporting standards irrespective of where they choose to work. This trend to “work from anywhere” is becoming standard market practise for many firms as they adjust to the post-pandemic economy. VoxSmart clients can ensure best practice and accountability of their employee communications in the event of audit, dispute, or misconduct.
VoxSmart first introduced compliant WhatsApp surveillance to the market in 2016 and their proprietary technology now captures three messages a second for tier one financial institutions across capital markets, commodity trading and the broker-dealer market. VoxSmart continues to transform capital markets with the capability to proactively perform real-time reconstructions of communication, trade and RFQ data which significantly reduces time and operational cost for market participants.
Through strategic partnerships and a strong focus on M&A activity, VoxSmart is setting the standard for an integrated markets surveillance model that offers a consolidated solution to capture and supervise all communications and trade data under one platform. VoxSmart has unparalleled expertise in unstructured data processing and indexing for complex technology environments and believes that by harnessing this data, a business will drive significant operational efficiencies and build a strong foundation for intelligent risk and control analysis.
VoxSmart’s goal is to become the global reference for risk and compliance surveillance technology and offer end-to-end remote conduct and employee monitoring that connects a firm’s people, processes, and technology to enable smarter business decisions.
The Toscafund investment in VoxSmart was brokered by Deepbridge Capital in conjunction with Ragnar Capital.
Ian Warwick, Managing Partner at Deepbridge Capital; “We have been working with VoxSmart since 2017, via our EIS fund, and are immensely proud of what the team have built. VoxSmart is exactly the type of business the Enterprise Investment Scheme is designed to support, being a growth-focused unique technology with global reach. We look forward to working with Toscafund to help the business continue to grow”.
Oliver Blower, CEO of VoxSmart: “We have always carefully chosen our funding partners, which is why we have worked closely with Deepbridge over recent years and were delighted with their assistance in attracting this further funding round. As market practitioners we have always been acutely aware of market developments and working with market participants to shape our product development and innovation. As such it was important we found a partner who shared our vision and mission within financial services. We believe that Toscafund’s global expertise and impressive market connectivity will be of tremendous benefit to VoxSmart in our next stage of growth. We look forward to working with both Deepbridge and Toscafund to ultimately generate great returns for our investors.”