CyberHive raises £1.8m to accelerate growth
CyberHive, a UK cybersecurity company, today announced a £1.8m investment, co-led by 24Haymarket and Mercia Fund Management’s EIS funds.
CyberHive has developed a patent-protected cybersecurity platform called Trusted Cloud – a cutting-edge technology, co-developed with the University of Oxford. Trusted Cloud uses a patented technique known as ‘hardware-backed distributed whitelisting’ to block cyber attacks and identify breaches in seconds that would go undetected by competing technologies for weeks or even months. Additionally, its ‘Gatekeeper for Office 365′ was designed to secure Microsoft Office 365 up to National Cyber Security Centre standards to protect remote workers from attack.
With this funding, CyberHive will have the ability to take their innovative solutions to a much wider market so that they too can benefit from the huge leaps in security and productivity being enjoyed by the lead customers.
Alan Platt, CEO of CyberHive said:
“Our technology provided the perfect way to facilitate secure home-working for key organisations at a critical time using our ‘Gatekeeper for Office 365’ remote working solution. Since then, we have applied the same concepts and technology to protect numerous other applications for large organisations, from remote working solutions to securing cloud computing and handling highly sensitive information.”
Matthew Bowcock, Investor Director representing 24Haymarket, added:
“Governments and businesses need to be able to take advantage of new technologies with confidence, especially as remote working has become a reality of life for many. Any attack has to be instantly identified to minimise damage. CyberHive is a world leader in this field and 24Haymarket is excited to be supporting its ambitious growth plans, alongside Mercia.”
Chris Kilroy, Investment Director at Mercia commented:
“The increasing threat from cyber attacks is one of the most challenging problems facing governments and commercial organisations globally. CyberHive’s solution is state-of-the-art and the company is led by a strong and highly backable management team. That is why we are excited to invest alongside 24Haymarket to help CyberHive in the next stage of their journey.”
CyberHive’s board is supported by Enda Kenny, who served as Taoiseach of Ireland from 2011 to 2017. Mr Kenny commented: “I am delighted to work with CyberHive to roll this product out globally, putting a stop to the spread of increasingly damaging data breaches that have plagued our society for years.”
Notes to Editors
CyberHive is a trading name of 100 Percent IT Ltd, a UK owned and operated company that has nearly two decades of expertise and experience in providing both Cloud and Cyber Security services to commercial organisations of all sizes as well as to the Public Sector.
CyberHive brings you a new standard in Cyber Security. Using our advanced technology, co-developed with the University of Oxford, we help to protect your data not only from external threats, but also from your security lapses by your own employees and even from the cloud provider. Our leading solution, Trusted Cloud, dramatically improves the security of all servers within a data centre by detecting unauthorised changes to the software running on the servers or VM’s and takes appropriate action when required.
For more information contact Alan Platt: [email protected]
24Haymarket is a private capital firm focused on disruptive early stage venture and growth equity investments in the UK, investing up to £5m in a transaction. Our Investor Network includes 100+ senior business leaders combining 3,000+ years of business experience with Director-level experience in companies worth a collective £700 billion. We invested aligned, patient capital in partnership with outstanding entrepreneurs to build the UK’s industrial leaders of the future.
For more information, please visit: www.24haymarket.com
About Mercia Asset Management PLC
Mercia is a proactive, specialist asset manager focused on supporting regional SMEs to achieve their growth aspirations. Mercia provides capital across its four asset classes of balance sheet, venture, private equity and debt capital: the Group’s ‘Complete Connected Capital’. The Group initially nurtures businesses via its third-party funds under management, then over time Mercia can provide further funding to the most promising companies, by deploying direct investment follow-on capital from its own balance sheet.
The Group has a strong UK footprint through its regional offices, 19 university partnerships and extensive personal networks, providing it with access to high-quality deal flow. Mercia currently has c.£872million of assets under management and, since its IPO in December 2014, has invested c.£106million gross into its direct investment portfolio.
The Group raises its own Venture Capital Trusts (VCTs) and Enterprise Investment Scheme (EIS) Funds and details about open offers can be found through Mercia’s website.
Mercia Asset Management PLC is quoted on AIM with the epic “MERC” and includes the following wholly owned subsidiaries –
Mercia Fund Management Limited is authorised and regulated by the FCA under firm reference number 524856
Enterprise Ventures Limited is authorised and regulated by the FCA under firm reference number 183363
EV Business Loans Limited is authorised and regulated by the FCA under firm reference number 443560
For more information, please visit: www.mercia.co.uk