Cybersecurity startup ZoneFox has secured a £3.6m Series A round led by Scottish business angel investment syndicate Archangels.
The Edinburgh-based firm said the new funding will enable it to triple headcount, open a new HQ and set up a team in London.
ZoneFox provides security systems to combat insider threats to businesses across sectors including financial, pharma and gaming. It recently launched a new machine based learning solution, called ZoneFox Augmented Intelligence and its customers include healthcare firm Craneware, Zenith Bank and Rockstar Games.
Other participants in the Series A round included The Scottish Investment Bank and TRI Cap, an investment group based in the Scottish Borders with a particular interest in businesses located in the Borders, Lothians and North of England.
This round follows the £2.5m in Seed funding the company has raised since 2010.
Dr Jamie Graves, CEO at ZoneFox, said: “We have established a strong reputation and generated a lot of interest from some global organisations, which have in turn become clients. Having the funding and support of Archangels, The Scottish Investment Bank and TriCap will allow us to continue to grow and develop ground-breaking solutions that will protect businesses.”
The firm currently employs 10 members of staff, but plans to increase this 30 by the end of 2017.