The funding, which includes £1.8 million from the Scottish Investment Bank - the investment arm of Scottish Enterprise, will enable Encompass to increase their numbers of domestic and international data suppliers. Encompass will use the money to accelerate its expansion into the legal market, speeding up their assessment and on boarding of new clients for the legal profession.
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.”
Visualising company data
Encompass takes company information and visualises it. Using the Encompass software, you can analyse multiple sources of information to understand company structures and asset ownership. It is an essential tool for insolvency experts, lawyers and accountants – and it dramatically cuts the amount of time spent finding and understanding company information.
Having licensed the product in Australia, Encompass wanted to expand into international markets. The similarity of the British and Australian legal systems made the UK a natural choice. But it was GlobalScot Hugh Sutherland and the SDI team in Sydney who convinced the founders, Roger Carson and Wayne Johnson, to look to Scotland for their European base.
Encompass chose Scotland for its perfect mix of the right people, a close-knit business community and Regional Selective Assistance (RSA).
Provided by Scottish Enterprise, RSA supports companies to make investments that create or safeguard jobs in Scotland. In this case, the company invested over £2.2 million opening the office in Glasgow and creating 21 new jobs. It has received an RSA grant worth up to £357,000.
RSA has helped them to establish a UK-based R&D hub, an ideal foothold that will ultimately service other global markets. Receiving this support was essential in the decision-making process, but it wasn’t the only factor.
Finding skilled people
A major concern for any technology company is finding and attracting the right people. Glasgow has plenty of talented graduates from top universities across Scotland – and the quality of life in the city is excellent. Running costs are lower than other major cities too making it a popular choice for businesses, many of which could be Encompass clients.
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