Board evaluation and board development specialists Better Boards has secured a £250,000 equity investment from the Development Bank of Wales and £125,000 from a panel of four angel investors.
Better Boards was first established in 2014 by Dr Sabine Dembkowski in response to increasing regulation and compliance for Board Directors. After five years of academic and market research, the business now utilises advanced software to provide evidence-based Board evaluations for Governing Boards and Executive Committees. With a portfolio spanning the FTSE 250 and 100, clients include Easyjet, National Grid and the Go-Ahead Group.
Based in the Tramshed, Cardiff’s tech-hub, the funding from the Development Bank of Wales and angel investors will now accelerate further growth for Better Boards by enabling the business to invest in technology and the recruitment of in-house functions.
As Chief Executive of Better Boards, Dr Sabine Dembkowski feels passionate about the value the data is bringing to Better Boards clients. She is one of the very few female entrepreneurs that represent just 1% of the total capital deployed for British venture capital. She said: “Our research, evidence-based approach means that we can provide bespoke reports for individual Board members so that they can understand what they can do to have a greater impact in the boardroom.
“We have spent several years developing onboarding programmes, board evaluation and board reviews to support Board members. All tools and techniques are grounded in research and peer-reviewed meaning that we have a solid foundations to become the trusted partner and go-to place for Board evaluations, board reviews and board development.”
“We are also ideally placed in the Tramshed to access the support available for early-stage tech businesses here in Wales. We’re looking forward to working with our investors to leverage years of research and learning for the benefit of Board members across the private and public sectors.”
Alex Leigh, Investment Executive with the Development Bank of Wales added: “Good corporate governance is necessary to enable companies to operate more efficiently, to improve access to capital, mitigate risk and safeguard stakeholders. It also makes companies more accountable and transparent to investors; an increasingly important consideration given the recent demise of several blue-chip businesses in the UK.
“With a mission to create better boards and to bring corporate governance to life, Better Boards benefits from a technology-driven platform and the expertise and reputation of Dr Sabine Dembkowski as an internationally renowned board advisor. Sabine has got our full support and that of our co-investors who share our commitment to nurturing technology businesses that set up here in Wales.”