RiskSmart Gains Momentum with Maven's Investment
Deal News | Jan 20, 2025 | Maven Capital Partners
Maven Capital Partners has spearheaded a new funding round through its Venture Capital Trusts (VCTs) for RiskSmart, a Manchester-based risk management platform. Founded by former risk managers Ryan Swann and Mike Aldred, RiskSmart aims to leverage AI and machine learning to optimize risk management practices for companies by providing data-driven insights. The platform emerged from the founders' frustration with obsolete tools that impeded efficient data entry and management. Its secure, user-friendly system is designed to supersede traditional spreadsheet reliance, enhancing productivity significantly. The initial funding from NPIF Maven Equity Finance supported the launch of RiskSmart's product in mid-2022, catalyzing significant growth including a triple-digit revenue increase and the acquisition of notable clients such as ASOS and Rightmove. The latest investment is expected to bolster product development and team expansion, aiding RiskSmart's scaling efforts within the UK and on an international scale. Maven's involvement is seen as pivotal, offering expertise and shared vision to capitalize on market opportunities across different company sizes, including those underserved in the SME segment.
Sectors
- Risk Management Technology
- Artificial Intelligence and Machine Learning
Geography
- United Kingdom – RiskSmart is based in Manchester and the initial growth and client acquisition have been predominantly within the UK.
Industry
- Risk Management Technology – RiskSmart operates in the risk management technology sector, providing data-driven insights to manage corporate risks, which is crucial for companies operating in complex sectors.
- Artificial Intelligence and Machine Learning – RiskSmart leverages AI and machine learning to enhance risk assessment capabilities, improving operational efficiency and decision-making processes.
Financials
- Not disclosed – The amount of funding Maven Capital Partners provided in the latest investment round was not disclosed.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| RiskSmart | Target Company | Company | RiskSmart is a risk management platform using AI and machine learning to provide insights for businesses to manage risk efficiently. |
| Maven Capital Partners | Investor | Company | Maven Capital Partners is a private equity firm providing the latest round of funding through its Venture Capital Trusts. |
| NPIF Maven Equity Finance | Investor | Company | NPIF Maven Equity Finance provided the initial funding which helped RiskSmart launch its product in 2022. |
| Ryan Swann | Founder | Person | Co-founder of RiskSmart, contributing to the company’s vision and innovation in risk management technology. |
| Mike Aldred | Founder | Person | Co-founder of RiskSmart, involved in developing and steering the company's technological advancements. |
| Simon Robb | Portfolio Director | Person | Portfolio Director at Maven Capital Partners, involved in the decision to invest in RiskSmart. |
| ASOS | Client | Company | ASOS is a high-profile client of RiskSmart's risk management platform. |
| Rightmove | Client | Company | Rightmove uses RiskSmart's services for managing corporate risk exposure. |
| Allica Bank | Client | Company | Allica Bank is one of the companies that has adopted RiskSmart's risk management tools. |
| PensionBee | Client | Company | PensionBee is a client that benefited from RiskSmart's AI-driven risk management solutions. |