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KRM22 happy with progress since April IPO

Published: 07:57 25 Sep 2018 BST

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Keeping an eye on it all with KRM22

Risk management software specialist KRM22 PLC (LON:KRM) has recorded its first revenues since joining AIM in April.

Set up by serial tech entrepreneur Keith Todd, the group raised £10.3mln to acquire business to plug into a platform that can instantly assess business and financial risks.

In early June, KRM22 acquired 60% of Irisium, a specialist in market monitoring technology for £2.3mln.

Isirium has annual revenues of £1.1mln and 14 customers following a recent crypto-currency win and contributed one month’s sales to the half year numbers.

Revenues in the half year were £73,000, with a loss of £1.4mln reflecting the early stages of  its development. Cash at the June was £6.9mln.

Since June, KRM22 has also signed a development and royalty agreement with Ascent Technologies for an artificial intelligence-based regulation monitoring product and also strengthened the enterprise risk team.

Todd, who is executive chairman and chief executive, said: "It has been just a few months since our IPO, but in that short time we have achieved a great deal. 

“We have secured our first investment and have wasted no time in building out the early foundations of what, we believe, will be the new standard in risk management for capital markets.”

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