London-based cybersecurity company Torsion Information Security has raised £1.1m in equity funding to roll out its software for businesses to monitor who has access to cloud-based documents.
The pre-Series A funding round was co-led by Bayes Entrepreneurship Fund, Juno Capital and The FSE Group. It also attracted investment from several Cambridge angel networks.
Torsion told UKTN that the funding brings its total capital raised to “around £2.2m”.
Founded in 2013 by Peter Bradley, Torsion’s data governance software integrates with collaboration systems such as Sharepoint and Office 365 to monitor and control employee access to documents.
It uses “intelligent automation” instead of IT professionals manually keeping track of who is accessing documents, with the goal of preventing potential breaches.
“Inappropriate access has been the root cause of many serious cyber breaches, and businesses need to invest in solutions to protect themselves,” said Linda Coyle, investment director of the Bayes Entrepreneurship Fund. “Whereas early cybersecurity solutions focussed on network infrastructure, the focus is shifting to data governance and monitoring the activity of users.”
The company’s tools are used by the likes of England & Wales Cricket Board and due diligence company Neotas.
Torsion said it will use the capital to roll out its automated Data Access Governance platform, bolster marketing, engineering and business development.
“We strongly believe our automated business-centric approach to controlling data access and sharing is the only way that enterprises can truly control access to their data,” said Peter Bradley, founder and CEO of Torsion. “With this funding, we are truly solving the ‘who has access to what’ problem, on a global scale.”