Melius Cyber Secures £500K Funding to Enhance CyberSafe
Melius Cyber is making strides in the battle against cyber risks, an escalating concern for businesses everywhere. In a recent funding round, the Newcastle, UK-based company secured an additional £500K, pushing its total funding to £1.35M. This financial backing, led by the North East Venture Fund with support from the European Regional Development Fund and managed by Mercia, highlights a growing investment interest in cybersecurity solutions—a critical area for many startups, especially those targeting SMEs.
Under the leadership of CEO Richard Brown, Melius Cyber is set to use this new capital to enhance its innovative platform, CyberSafe.
The funds will not only facilitate the launch of a revamped version of the platform, planned for release in the coming months, but also contribute to the creation of six new jobs within the company. This growth enables Melius Cyber to bolster its capabilities in providing a comprehensive security operation centre (SOC) and a robust security information and event management (SIEM) solution, essential components for safeguarding businesses in today's digital landscape.
The upgraded CyberSafe platform is designed to empower organizations to continuously monitor their IT networks, websites, and mobile apps. With automated vulnerability scanning and penetration testing integrated into the system, businesses can proactively identify weaknesses before they are exploited. Additionally, the new features—such as enhanced reporting, built-in anti-ransomware, and advanced email security—will ensure that SMEs can achieve crucial accreditations like Cyber Essentials and ISO 27001. As investment in cybersecurity continues to grow, Melius Cyber is poised to become a vital partner for investors looking to back innovative solutions in the ever-evolving arena of digital security.
Key Terms Explained
- Funding Round
- A type of financing designated for start-ups and early-stage businesses, often involving several different potential investors. In this context, Melius Cyber secured additional capital to support its growth plans.
- Venture Fund
- A form of private equity capital, usually provided by outside investors, that is used to build new businesses or revamp existing ones with high growth potential. The North East Venture Fund backed the funding round of Melius Cyber.
- Cybersecurity Solutions
- Products or services designed to protect internet-connected systems, including hardware, software and data, from cyber threats. Melius Cyber is a provider of these solutions, specifically targeting SMEs.
Frequently Asked Questions
- How much funding has Melius Cyber secured in its recent funding round?-Melius Cyber has secured an additional £500K in its recent funding round, pushing its total funding to £1.35M.
- Who are the investors backing Melius Cyber?+
- What is the purpose of the investment received by Melius Cyber?+
- What features does the upgraded CyberSafe platform offer?+
- What type of companies does Melius Cyber aim to assist?+
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