Melius Cyber, a Newcastle, UK-based company providing a platform that helps businesses detect cyber risks, raised additional £500K in funding.
The round, which brought the total raised to date to £1.35M, was led by North East Venture Fund, supported by European Regional Development Fund and managed by Mercia.
The company intends to use the funds to launch a new version of its platform, expand its team with the creation of six new jobs, work towards building a full security operation centre (SOC) and a security information and event management (SIEM) solution.
Led by CEO Richard Brown, Melius Cyber provides SMEs with the CyberSafe platform, which enables them to monitor an organisation’s IT network, website and mobile apps around the clock. The system automates the process of vulnerability scanning and penetration testing, in which experts simulate attacks to detect weaknesses, and helps businesses to gain accreditation to standards such as Cyber Essentials and ISO 27001 by showing they have monitoring in place. The new version, which will be launched in the coming months, will include enhanced reporting and analytics, built-in anti-ransomware, advanced email security, automated alerts and the ability to check over 250,000 vulnerabilities daily.
FinSMEs
14/10/2024