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RNS Number : 7461S

Schroder UK Public Private Tst plc

18 November 2021

Schroder UK Public Private Trust plc

Investment in Attest

Schroder UK Public Private Trust plc (the "Company") is pleased to announce it has made a $7.0 million investment in leading market research technology platform, Attest Technologies Limited ("Attest"), as part of its $64 million Series B funding round. The investment in Attest is the third new private equity investment since the appointment of Schroder Investment Management Ltd as the Company's portfolio manager and further progresses the continued rebalancing of the portfolio with Attest being the first business services sector investment to enter the portfolio.

Attest's Series B funding was led by an undisclosed growth investor with participation from specialist tech investment firm Kismet and existing investor, leading global venture capital firm NEA.

Attest has built an intuitive software as a service platform which aims to make checking ideas and actions with target consumers as second-nature as checking the time, so every business decision can be grounded in data. Using Attest's technology, surveys can be created and distributed to target consumers in as little as 90 seconds and results are significantly higher-quality, more reliable, representative, and delivered faster than ever previously possible. This self-serve technology is supported by Attest's in-house team of research experts, leading to trustworthy data that brands can rely on.

Attest has achieved record revenue growth during the pandemic, driving the accelerated importance of customer and market understanding to organisations who are seeking competitive advantage and business growth. Attest has continued to support and grow its ever-expanding client base, including Microsoft, Santander, Walgreens/Boots, Wise, Klarna, Organic Valley and Fabletics. Attest's consumer reach has also increased, with brands now able to access more than 110 million people in 49 countries. Via Attest, this power is now open to any user, in any business to consumer company, on-demand any time.

This latest round will help further accelerate Attest's expansion in both Europe and North America, as well as the company's mission to make high quality research simple, fast and powerful for everyone on a continuous basis.

This investment is in line with the Company's focus on backing innovative UK businesses with disruptive innovation, significant global growth potential, high quality management teams and supported by highly reputable co-investors. The Company is committed to improving its sustainability profile and intends to disclose where appropriate the United Nations' Sustainable Development Goals ("SDGs") associated with new investments. The investment in Attest is in line with SDG 8 "Decent Work and Economic Growth" and Target 8.2 "Achieve higher levels of economic productivity through diversification, technological upgrading and innovation, including through a focus on high-value added and labour-intensive sectors".

Tim Creed and Roger Doig, Portfolio Managers of the Company, jointly commented: "We are delighted to announce the third new private equity investment since our appointment as portfolio manager. We believe Attest represents a high-quality addition to the portfolio with significant growth potential. In the current business climate, the importance of operating in a customer-centric manner and continually monitoring consumer behaviour has never been greater and Attest is revolutionising access to high quality insights for brands around the world. The company's ambition to make market research available to everyone and democratise data represents a sizeable market opportunity which is multiples of the existing traditional market research sector. We look forward to supporting the company on its journey over the coming years".

Enquiries:

Schroder Investment Management Limited

 
 Estelle Bibby (Press)               0207 658 3431 
 Gareth Faith (Company Secretary)    0207 658 5264 
 

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November 18, 2021 02:00 ET (07:00 GMT)

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