Geopolitical risk analytics startup Cytora has closed a funding round led by Cambridge Enterprise, the commercialisation arm of the University of Cambridge, Parkwalk Advisors and angel investors including Alan Morgan of MMC Ventures.
Cytora works by scanning web data in real time which allows it to alert clients to geopolitical risks such as fires, port strikes, weather events or pipeline explosions.
It is currently used by risk advisories and consultancies, airlines, investment banks and hedge funds to asses potential risks.
Anne Dobree, head of seed fund investment at Cambridge Enterprise, said: “With increasingly connected global markets and operations spanning limitless geographic locations, the task of monitoring events and anticipating their direct and indirect impacts is becoming more and more complex. Cytora is in a position to enable clients to observe the world using the web, producing a massive disruptive impact for all sorts of information, analytics and decision support companies.”
And Richard Hartley, co-founder of Cytora, added: “Increasingly the web is providing a window on to the world, to a high level of factual detail. Our mission is to enable organisations to monitor supply chains, infrastructures and entire geographies using the power of web information. We are excited to receive support from a prestigious set of investors, and this funding will allow us to develop the product further and align it with the needs of different verticals.”
Terms of the investment were not disclosed and the round was oversubscribed.