Melius Cyber, a Newcastle-based cyber risk specialist, has secured £500,000 from the North East Venture Fund.
- This funding will allow Melius Cyber to launch a new version of its CyberSafe platform.
- The latest investment round will facilitate the creation of six new jobs at the company.
- Developed for SMEs, CyberSafe helps identify cyber threats quickly with advanced tools.
- Mercia Ventures and NEVF have been loyal supporters of the firm since its early days.
Melius Cyber, a prominent player in the cybersecurity sector, has obtained a significant injection of £500,000 from the North East Venture Fund. This investment, supported by the European Regional Development Fund and managed by Mercia, marks another milestone in the company’s growth strategy.
The newly acquired funds will be pivotal in launching an updated version of their CyberSafe platform. CyberSafe, tailored specifically for small and medium-sized enterprises (SMEs), offers cutting-edge technology that scans IT networks, websites, and mobile apps. It automates vulnerability scanning and penetration testing, significantly reducing the time required to identify potential cyber threats.
The funding will also enable Melius Cyber to expand its workforce by creating six new positions. This expansion aligns with its commitment to bolstering cybersecurity support for SMEs, ensuring they have robust systems in place to detect and manage cyber risks swiftly.
CyberSafe’s latest iteration promises enhanced features, including advanced reporting and analytics, anti-ransomware capabilities, and improved email security. It can scan over 250,000 vulnerabilities daily and includes automatic alert systems that aid in achieving standards such as Cyber Essentials and ISO 27001.
Since its inception in 2019, Melius Cyber has been steadfastly backed by Mercia Ventures and NEVF. Their ongoing support has been crucial in the firm’s journey towards innovation and market expansion—servicing over 60 clients, including notable names like Virgin Wines.
The continued investment and development underscore Melius Cyber’s growing influence in addressing cybersecurity challenges for SMEs.
