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Cyber threat monitoring software firm ExactTrak raises £1m

ExactTrak
Image credit: ExactTrak

ExactTrak, a cybersecurity company that has developed remote physical memory destruction technology, has raised £1m.

Based in Banbury, ExactTrak provides firms with embedded security solutions to protect devices and data from attacks.

The company says its flagship product, SmartSafe, remotely monitors devices and performs cyber surveillance when the machine is switched off. Features include location tracking and remote data encryption.

ExactTrak has secured 19 patents, including what it describes as a “Mission Impossible” patent, used to destroy compromised memory remotely.

The company said the new funding will support the development of cybersecurity tools to protect against quantum computers.

“This investment marks a significant milestone in our pursuit of creating cutting-edge solutions that redefine cybersecurity standards, particularly in the face of quantum computing cyber threats,” said Norman Shaw, ExactTrak founder and CEO.

“Our mission is to transform the industry by ensuring the utmost security for government and commercial sector customers alike.”

The new funding was split between £500,000 from the Ministry of Defence-backed defence and security fund from UKI2S, as well as a host of angel investors and existing backers.

Mark White, investment director at UKI2S, managed by Future Planet Capital, said the company’s solutions use across government, finance and the health sector “demonstrate the cross-sector impact of [ExactTrak’s] technology.”

ExactTrak previously participated in GCHQ’s Cyber Accelerator.

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