Start-Up: StayPrivate

Introducing StayPrivate to The LaunchPad!

Year launched: 2014


Management team: Andrew Brogden, Rob Reid

 

Number of employees: 20-25


About StayPrivate: 


StayPrivate makes secure email and file sharing simple.

Compatible with all email accounts and incredibly easy to use, StayPrivate enables businesses to send and receive sensitive data in a convenient, secure and compliant manner.

How did the idea for the business originate?

StayPrivate sparked into life in early 2013 when Rob and I were working on an innovative retail investment product for a FTSE100 financial services company. This product met a clear need and the company wanted to accelerate sales, but there was one problem: the product needed explaining carefully to investors. This we could do, but the issue was how to prove so to regulators, maybe years later. Signatures at the bottom of legal documents would count for little.

What we needed was a secure, transparent electronic record of the private conversation leading to the sale. That technology did not exist.

We realised that the need to be able to communicate securely, privately and conveniently with customers was not limited to specialist financial services, but applied to any business providing a service to their clients. And so we set about building StayPrivate.

Do you have customers yet? If not, how far into your business lifecycle are you?

Yes. We have thousands of businesses using the service, and hundreds of companies paying!


How have you funded your growth to date?

Prior to 2018, Rob and I largely provided the funding, along with a few ex-colleagues. During 2018 we completed our first external EIS fund raise. We are targeting a substantial Series A round in the first half of 2019.

What would a successful 2018 look like for you?

A successful 2018 would be for our business to continue on our current growth trajectory, putting us in a good position for a Series A in early 2019.

Outside of your own business, which start up do you admire the most and why?

Slack. As a B2B business, focussed on delivering scalable growth, we see their journey as being similar to ours in many ways, and therefore something we can learn from. Slack came across a problem, developed a solution, then worked to make their solution as simple and compatible as possible.

Anyone interested in speaking with the StayPrivate team can meet them at the LaunchPad at FinTech Connect 2018, 5-6th December at the ExCeL London. 

For more information on StayPrivatplease visit here

To see who else is exhibiting at Fintech Connect visit here

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