Cardiff-based cybersecurity firm PureCyber is looking to grow its customer base following a £5m equity investment boost from BGF.
Founded in 2016 by CEO Damon Rands, the company provides a range of cybersecurity solutions, acting as an outsourced provider for businesses looking to bolster their defences against cyberattacks.
Subscription services include brand protection, incident response, global penetration testing and fully managed security operations centre services.
The firm, which has a team of 37 cyber security specialists, has opted for an “affordable, entry-level approach” to attract clients of different sizes across varying sectors.
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 scale-up 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 funding, which was led by BGF, one of the largest growth capital investors in the UK and Ireland, will be used by PureCyber to expand its client base across the SME market as well as grow its market share among larger, global enterprises.
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.”