TIDMPIRI
RNS Number : 4192E
Pires Investments PLC
11 March 2022
11 March 2022
Pires Investments plc
("Pires" or the "Company")
Getvisibility secures EUR10 million in new funding
Pires Investments plc (AIM: PIRI), the investment company
focused on next generation technology, announces the completion of
a EUR10 million funding round by one of its investments,
Getvisibility, an artificial intelligence-based data discovery,
classification and protection platform company.
Getvisibility has raised EUR10 million in equity principally
from new investors Alpha Intelligence Capital ("AIC"), a global
venture capital firm which invests in deep arti cial
intelligence/machine learning technology-based companies and
Fortino Capital Partners ("Fortino"), a leading B2B software
venture capital and growth equity firm.
Certain existing investors, including Pires, Sure Valley
Ventures ("SVV") and Manifold Investments Limited have also made
follow-on investments alongside AIC and Fortino and other
additional new investors. As part of this funding round, Pires will
be investing an additional EUR50,000 from its existing cash
resources.
Pires made its original investment of EUR250,000 in March 2020,
with a follow-on investment of EUR62,000 in June 2021. Since then,
Getvisibility has made significant progress such that, based on the
post funding round valuation, Pires' direct stake in Getvisibility
(including its additional investment) is now valued at circa
EUR1,500,000 or over 4 times its total investment cost to date
since it made its first investment two years ago. In addition,
Pires has a further interest in Getvisibility via its 13% interest
in SVV and an indirect interest through its holding in Sure
Ventures plc, which together are now valued at circa EUR1,330,000.
Pires' interest in Getvisibility, in aggregate, is therefore now
valued at circa EUR2,830,000.
Getvisibility, is a leader in data visibility and control, using
state-of-the-art artificial intelligence ("AI") to classify and
secure unstructured information. Getvisibility also provides risk
and compliance assessments as well as enforcing protection on
sensitive data. The company operates across the US, Europe and the
Middle East and North Africa with a presence in several industry
sectors including banking, healthcare and the public sector.
Getvisibility's clients include a leading global producer of energy
and chemicals, a major airport group, one of the largest financial
institutions in the Middle East as well as US government entities
in the pharmaceutical and manufacturing sectors.
The funds raised will be used to build out the senior management
team, further develop the route to market and deliver the company's
near-term strategic plan.
Nicholas Lee, Director of Pires commented:
"We are very excited about the progress that Getvisibility has
made to date and the significant increase in the value of our
investment. The products and services offered by Getvisibility are
becoming even more critical in today's world given the rapid growth
in cybercrime and constant attacks on IT systems and data that are
taking place globally on a daily basis.
This latest funding round to raise EUR10 million, led by global
venture capital investors AIC and Fortino, clearly validates the
excellent investment that Getvisibility has represented to date and
strongly endorses the company's business prospects going forward.
Getvisibility is now well funded and clearly set on a path to make
even greater progress with the new funds that it now has available.
We look forward to providing further updates on Getvisibility's
progress in due course.
This is yet another example of the exciting results that are
being achieved by Pires from its investment portfolio, indicating
the potential of this portfolio going forward."
This announcement contains inside information for the purposes
of the UK Market Abuse Regulation and the Directors of the Company
are responsible for the release of this announcement.
Enquiries:
Pires Investments plc Tel: +44 (0) 20 3368 8961
Nicholas Lee, Director
Nominated Adviser Tel: +44 (0) 20 7213 0880
Cairn Financial Advisers LLP
Liam Murray/Jo Turner/Ludovico
Lazzaretti
Joint Broker Tel: +44 (0) 20 7469 0935
Peterhouse Capital Limited Tel: +44 (0) 20 7469 0936
Duncan Vasey/Lucy Williams
Joint Broker Tel: +44 (0) 20 3167 7221
Tennyson Securities
Peter Krens
Financial media and PR Tel: +44 (0) 20 3004 9512
Yellow Jersey
Sarah Hollins
Henry Wilkinson
Annabelle Wills
Notes to Editors
About Pires Investments plc
Pires Investments plc (AIM: PIRI) is an investment company
providing investors with access to a portfolio of next generation
technology businesses with significant growth potential.
The Company is building an investment portfolio of high-tech
businesses across areas such as Artificial Intelligence, Internet
of Things, Cyber Security, Machine Learning, Immersive Technologies
and Big Data, which the Board believes demonstrate evidence of
traction and the potential for exponential growth, due to
increasing global demand for development in these sectors.
For further information, visit:
https://piresinvestments.com/
About Getvisibility
Getvisibility is an artificial intelligence security company
addressing the substantial and increasing problem which
corporations face in storing, sorting, accessing and protecting
data. Getvisibility has developed and launched a software platform
using artificial intelligence that delivers visibility over a wide
range of data.
Getvisibility, a leader in data visibility and control, uses
state-of-the-art artificial intelligence ("AI") to classify and
secure unstructured information, allowing organisations to quickly
visualise their data footprint where new and changing data risks
have become evident, thus allowing for proactive data management
and security. Its dual-approach provides flexibility to employees
to manually classify data whilst also being created with
suggestions and automated checking. Getvisibility also provides
risk and compliance assessments as well as enforcing protection on
sensitive data.
Further details about Getvisibility can be found at https://www.getvisibility.com/ .
Caution regarding forward looking statements
Certain statements in this announcement, are, or may be deemed
to be, forward looking statements. Forward looking statements are
identi ed by their use of terms and phrases such as "believe",
"could", "should" "envisage", "estimate", "intend", "may", "plan",
"potentially", "expect", "will" or the negative of those,
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assumptions. These forward looking statements are not based on
historical facts but rather on the Directors' current expectations
and assumptions regarding the Company's future growth, results of
operations, performance, future capital and other expenditures
(including the amount, nature and sources of funding thereof),
competitive advantages, business prospects and opportunities. Such
forward looking statements re ect the Directors' current beliefs
and assumptions and are based on information currently available to
the Directors.
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