CoComply, a RegTech scale-up providing an external workforce compliance platform, has raised £1.9m in seed funding. The investment round was led by NPIF - Mercia Equity Finance, which is managed by Mercia Ventures as part of the Northern Powerhouse Investment Fund II (NPIF II), with participation from Haatch. Experienced technology and business investors formed part of the round including Richard Law former CEO of GBG who also becomes chair; Seb Timpson, co-founder of financial data and intelligence business With Intelligence, which was acquired by S&P Global for $1.8bn in November 2025; and Stephen Cann, CEO of Bollin Group, whose brands include Mountain Equipment, Sprayway, Ronhill and Bridgedale.
CoComply helps mid-market and large organisations uncover and manage their external workforce, including workers hidden within supplier contracts. The platform identifies how people are engaged, determines which compliance checks are needed and combines technology with expert classification to help organisations reduce risk and engage workers with confidence. Sitting at the point where work first enters a business, CoComply supports organisations to establish what work is needed, identify the appropriate engagement route, classify workers correctly and determine necessary checks and approvals. The approach focuses on prevention rather than cure, addressing risks such as worker classification and IR35, Right to Work and modern slavery before they become liabilities.
Businesses often have clear visibility of their own employees, but hidden headcount sits in work delivered through contractors, agencies and service providers. These workers can be buried within supplier agreements, statements of work and service contracts, leaving organisations without a clear picture of who is delivering work, how they are engaged or which compliance obligations apply. CoComply aims to give organisations confidence about who is working for them and to provide a decision and governance layer across HR, procurement, finance and legal functions.
CoComply's revenues grew by 240% in 2025 and are forecast to grow by a further 120%+ in 2026, while customer expansion has grown 300% year-on-year. The platform is already used by organisations ranging from mid-market businesses to FTSE 100 companies, including Aston Martin, Take-Two, RS Group, Thredd, Quint Group, Dementia UK and the Royal Yachting Association. CoComply was awarded an Innovate UK Smart Grant in 2024.
The funding will be used to accelerate product development and build out CoComply's sales, marketing and delivery capability. CoComply is pursuing a vision to categorise and classify the world's workforce, ensuring compliance everywhere, and has brought together investors with first-hand experience of building substantial businesses to support this next stage of growth.
Despite growing reliance on external workers in every industry, many businesses still struggle to answer a very basic question: how many people actually work for us, what are they doing and how are they engaged? That becomes a serious governance and compliance problem when responsibility is spread across business functions. Our mission is to provide the decision and governance layer across these teams, helping them choose the right engagement model and classify work correctly from the outset.
Organisations increasingly rely on outsourcing, yet many lack a clear understanding of who is delivering the work. What stood out to us was the scale of the problem and how poorly it is currently addressed. CoComply's ability to identify and classify hidden workers differentiates it from other solutions and positions the business well as regulation and governance requirements continue to increase.
CoComply is tackling a significant and often overlooked challenge for businesses, with a platform that gives organisations much-needed visibility and control over their external workforce. We've been impressed by the team's first-hand understanding of the problem, the traction they've built and the opportunity to establish a new standard for workforce compliance. We're delighted to be backing Michael and the team as they scale the business in the UK and internationally.
