Sales growth of 100% has prompted the Sheffield-based company to set up a London office. The new facilities, near the Lloyd's building, place Xactium at the heart of the financial services community, a core customer base for Xactium's custom-fit solutions. Headcount at Xactium's Sheffield HQ has risen with five new hires in development and sales support joining the team to build on the success of the Xactium Governance, Risk and Compliance Suite.

Mark Boleat, Policy Chairman at the City of London Corporation, said: "A crucial component of the City's success is its ability to adapt and embrace new industries. The Square Mile is the natural home for innovative high-growth tech companies looking to tap global investment and markets. It also offers the ideal location to leverage the business experience and expertise found in the City."

Andy Evans, CEO at Xactium says: "Since inception, Xactium's management has set itself a goal to be extremely agile and seriously focused on delivering solutions that exceed our customers' expectations. As a result we're seeing a rapid uptake of our GRC solutions within The Square Mile and a London office has become essential. We are delighted to be hiring highly talented people and adding high-value jobs to the economy, at a time when the momentum of Xactium is so strong."