Frog was identified as the most suitable funding partner after a structured process orchestrated by ScaleUp Group involving multiple Funds, which started in April of this year.
The funding process was led by John O’Connell, Executive Chairman of ScaleUp Group, who commented “Clue was a very appealing investment proposition having grown rapidly with many marquee clients across multiple jurisdictions in both the Public and Private, commercial, sectors.”
“Clue the world-leading Investigation and Intelligence software is a great example of a successful female-led business. I am also especially pleased that funding was obtained even though because of its age such an investment did not qualify for EIS relief, which up to now has been our primary focus. Fellow Partner in ScaleUp Group, Adam Hale joins Clue as their first-ever Chairman.”
Clue has been in business in its current form since 2016 following the involvement of the CEO Clare Elford and her brother COO Thomas Drohan.
Clare Elford commented “We are delighted that ScaleUp Group introduced us to Frog Capital who are exactly the type of funding partner we were hoping for. Mike Reid, Founder and Managing Partner of Frog, joining our board, together with Adam Hale, provides us with significant additional management experience and connections.”
“This is on top of the extra funding, allowing us to accelerate our growth plans globally, and continue to innovate with our product, using AI and cognitive services to leverage the power of data for investigations.”
“Demand for ever more dynamic and sophisticated techniques is needed as criminal activity increases across all parts of society and worldwide. We are proud to be part of the solution to help bring justice for victims. ”