PureCyber, a Cardiff-based cybersecurity startup, has secured a £5 million investment from BGF (which invested in Kooth and Echion Technologies), one of the largest and most experienced growth capital investors in the UK and Ireland. Hannah King and Edwin Davies, investors in BGF’s Wales and South West team, led on the deal.
How will it use the investment?
The company will use the investment to look to become a dominant force in the cyber industry through the continued expansion of its client base across the SME market. It will also look to grow its market share among larger, global enterprises.
Commenting on the deal, Hannah King, Investor at BGF, said: “PureCyber represents an exciting opportunity to back a high-growth and high-profile business that is operating in an attractive part of the cyber market. We are proud to be investing in an ambitious team with a clear vision for the future and look forward to adding another dynamic technology business that is flying the flag for Welsh enterprise to our portfolio.”
Makes new appointment
In addition to the investment, Ben Marnham, a highly experienced former tech CEO and Chair has also joined PureCyber as Non-Executive Chair as part of the deal.
Ben Marnham, incoming non-executive chair, added: ‘PureCyber has excellent growth potential – the market is expanding, and its track record clearly demonstrates that the culture, proposition and delivery are all on point. I am looking forward to joining the board and working alongside Damon, the PureCyber team and BGF.”
What does PureCyber do?
Founded in 2016 by CEO Damon Rands, PureCyber provides a broad range of cyber security solutions, acting as an outsourced provider for businesses looking to optimise their protection against attacks.
Its subscription services range from brand protection, incident response, global penetration testing, and fully managed SOC services.
Growth to date has been driven by the company’s affordable, entry-level approach making its best-in-class cyber services accessible to businesses across a range of sectors and sizes. It has a good foothold in the professional and financial services, manufacturing, education, and sport sectors, with many global customers, including large education institutions and premier league football clubs.
As per the company, it has a team of 37 cybersecurity specialists.
Damon Rands, CEO of PureCyber, said: “Having successfully scaled the business since its inception in 2016, it was a natural time to look ahead to the next phase of growth. With a wealth of experience in the technology market and a pedigree of supporting ambitious businesses on their scaleup journeys, BGF was a natural fit. We are also delighted to be working with Ben Marnham who has worked with a number of fast growth tech scaleups. The PureCyber team and I are committed to growing the business to support the ever-increasing needs of the global SME and enterprise market and are delighted to be working with an investment partner and a non-exec chair that shares our vision for the future.”
What do we think about PureCyber?
PureCyber is positioned for significant growth with a £5 million investment from BGF and the addition of experienced tech leader as Non-Executive Chair. Its accessible, top-tier cybersecurity solutions cater to a broad range of sectors, showing strong potential to dominate the market and expand globally. The company’s ambitious vision and proven track record are promising.
