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London-based cybersecurity startup Risk Ledger bags £2.1M funding

Risk Ledger
Image credits: Risk Ledger

Supply chain cyber breaches often result in personal data such as payment details, addresses and medical records being accessed by unauthorised third parties. Major supply chain cyber security breaches in 2021 at Accellion, Solarwinds and Microsoft have put the challenge of defending against supply chain breaches at the top of the agenda for every large organisation globally.

The Risk Ledger platform is a first-of-a-kind global network of connected organisations, all working together to defend as one against cyber attacks. This game-changing approach makes the platform ideal for almost any organisation trying to identify, measure and mitigate supply chain risks regardless of industry.

To grow team and operations

Headquartered in London, Risk Ledger is a cybersecurity company that manages cyber security risks in supply chains. Now, the company has bagged £2.1 million in a seed funding round. The investment round was led by Finnish VC Lifeline Ventures with participation from Seedcamp, firstminute Capital, Episode 1 and Village Global.

The proceeds of this round will help Risk Ledger grow its team and operations to fully capitalise on the heightened focus on supply chain security driven by all the new regulations and high-profile breaches.

Haydn Brooks, founder and CEO at Risk Ledger commented: “The past 18 months have been a period of rapid growth in the company. We grew our client base and our user numbers have sky-rocketed despite the significant economic disruption caused by the pandemic. We have expanded the product into non-cyber security factors, including ESG and financial supply chain risks. Testament to the wider scope of the platform, we are now engaging procurement leaders in companies as well as their information security counterparts.”

Petteri Koponen, founding partner at Lifeline Ventures said: “We wanted to be part of Risk Ledger’s growth journey because they have the right product at the right time. With supply chain breaches becoming mainstream and regulators globally mandating better management of the risks, the Risk Ledger platform is in a fantastic position to become the industry agnostic tool of choice and penetrate the market extensively. The potential for the platform to proliferate virally is also unique. Capturing 30% of the UK water market in just over a year shows this possibility which is exciting for us.”

Growing cybersecurity startup in UK

Founded by Haydn Brooks, Risk Ledger is a rising star of the UK’s growing cyber security industry that has won several competitions run by the UK Government’s National Cyber Security Centre and many others. Also, the company is a member of the UK Government backed LORCA programme (London Office of Rapid Cybersecurity Advancement).

Risk Ledger’s client base includes a wide range of organisations including NHS Test & Trace, BAE Systems Applied Intelligence, City of London Police, Schroders Personal Wealth and ASOS among others. Recently, the Risk Ledger platform was able to help the NHS Test & Trace team identify complex vulnerabilities in multiple interdependent suppliers that provide key reagents to the organisation.