Calash is pleased to announce that it provided commercial and management due diligence to the Scottish National Investment Bank on its investment into Cyacomb, a digital forensics and online safety company.
Edinburgh-headquartered Cyacomb is a provider of digital triage tools and a developer of online safety tools to combat harmful online content. The Scottish National Investment Bank is investing £2.6m of equity to scale up its operations, explore new markets and grow its ability to work with more clients and meet its long-term growth plans.
Calash provided commercial and management due diligence on the deal on behalf of the Scottish National Investment Bank. Commercial due diligence included reviewing the target’s business activities and pipeline, market sizing, service demand from existing and adjacent markets, and exploring exit opportunities. Calash’s management due diligence included a review of Cyacomb’s team structure and composition to best achieve its growth ambitions.
The funding round also attracted follow-on investment from existing investors Scottish Enterprise, Par Equity, the MacLeod Trust and Mercia Ventures.
The Calash team included James Kirby, Iain Gallow, and Rob Neves.
“The Bank was pleased to engage Calash for commercial and management due diligence for this transaction. The Calash team’s network of sector experts, assisting them to understand a niche area along with their attention to detail were invaluable in helping us assess the market and business growth potential.”
Jane Roach, Executive Director, Scottish National Investment Bank
Read the full press release Here
The Scottish National Investment Bank invests in Scottish businesses, projects and communities to deliver environmental, social and financial returns for the people of Scotland. Investments in debt and equity are made on commercial terms based on the needs of individual projects or businesses.
The Bank invests in businesses based in Scotland, projects based in Scotland, or businesses seeking to move to Scotland. Typically, the Bank will invest in businesses and projects seeking more than £1m in investment support (debt or equity). All investments must deliver both commercial returns and mission impact returns that support at least one of the Bank’s missions.
Cyacomb was founded in 2016 by entrepreneur Ian Stevenson and former police forensics analyst Bruce Ramsay. Born out of a research project at Edinburgh Napier university, their vision was to create a new technology to make the online world a safer place. It has developed ground-breaking technology that pinpoints harmful content, at source. This helps law enforcement, cloud companies and social media bring perpetrators to justice while protecting the innocent.
