Manchester-based CloudGuard is set to expand, aiming to create 20 new jobs over the next year. This growth follows significant investment backing from Northern Powerhouse Investment Fund.
- The company will leverage this investment to increase its workforce from 30 to 50, reflecting its commitment to growth and innovation.
- CloudGuard plans to strengthen its partnership with Manchester universities, focusing on enhancing AI research capabilities.
- Additionally, the firm intends to expand its CloudGuard Cyber Academy, offering industry-relevant training to a diverse range of individuals.
- The strategic move underscores the firm’s dedication to improving cybersecurity resilience and providing cutting-edge solutions.
CloudGuard, a cybersecurity start-up headquartered in Manchester, has announced plans to expand its operations and workforce significantly. The company, founded in 2020, is set to increase its employee count from 30 to 50 within the next 12 months. This ambitious growth is supported by a substantial investment from Northern Powerhouse Investment Fund, specifically the NPIF II – Praetura Equity Finance managed by Praetura Ventures. Although the exact figures of this multi-million pound backing have not been disclosed, the impact is poised to be significant for the company and the local economy.
The firm’s expansion isn’t just about numbers; it’s also about enhancing capabilities. CloudGuard intends to deepen its research ties with Manchester’s academic institutions, with a particular focus on advancing artificial intelligence applications in cybersecurity. This move is part of a broader strategy to leverage cutting-edge technology for better detection, protection, and resolution of cyber threats, as highlighted by co-founder and CEO Matt Lovell. ‘More effective use of Automation and AI is fundamental to enabling better detection, protection, response, and resolution outcomes,’ Lovell stated, emphasizing the critical role of technology in addressing evolving cyber challenges.
In addition to boosting its research capabilities, CloudGuard is expanding its educational initiatives through the CloudGuard Cyber Academy. This programme is designed to provide comprehensive training and practical industry experience to individuals across various skill levels and ages, further nurturing the next generation of cybersecurity experts. By doing so, the company not only enhances its talent pool but also strengthens the region’s standing as a burgeoning hub for cyber innovation.
Matt Lovell further elaborated on the company’s strategic outlook, expressing enthusiasm about the company’s roots and future in Manchester. He noted the city’s rapid growth as a cyber hub and the importance of timely response in mitigating the impact of cyber events. The firm’s services aim to deliver more cost-effective and responsive solutions through collaborations with leading security providers, including Microsoft.
The Northern Powerhouse Investment Fund II, which supports this venture, covers the North of England, offering financial tools to stimulate regional business growth. Senior Manager at British Business Bank, Sue Barnard, acknowledged the North West’s rising prominence in the cybersecurity sector, citing the investment in CloudGuard as a testament to the region’s potential for high-skilled job creation.
CloudGuard’s expansion represents a significant step forward for Manchester’s cybersecurity landscape, aligning investment with innovative growth.
