Last Updated on: 10th July 2024, 07:01 pm
PureCyber is excited to announce a £5 million investment from BGF, one of the foremost growth capital investors in the UK and Ireland.
Established in 2016 by CEO Damon Rands, PureCyber has rapidly emerged as one of the fastest-growing technology firms in Wales. The company offers a comprehensive and unique range of cybersecurity solutions, functioning as an outsourced cyber team for businesses. Our unique suite of subscription services includes brand protection, incident response, global penetration testing, and fully managed Security Operations Centre (SOC) services.
Our growth has been propelled by an affordable, entry-level approach, making top-tier cybersecurity services accessible to businesses of all sizes across various sectors. We have developed a strong presence in the professional and financial services, manufacturing, education, and sports sectors. Our clients include prestigious global institutions, large educational organisations, and Premier League football clubs.
Today, PureCyber is supported by a dedicated team of 37 cybersecurity specialists and has received accolades as the ‘Most Innovative Cyber Security Company in the UK’ and the ‘Best International Cyber Consultancy Firm in the UK’.
With this substantial investment from BGF, PureCyber aims to strengthen its position as a leading force in the cybersecurity industry. We plan to expand our client base in the SME market and increase our market share among larger, global enterprises.
Founder and CEO Damon Rands remarked, “Having successfully scaled the business since its inception in 2016, it was a natural time to look ahead to the next phase of growth. With a wealth of experience in the technology market and a pedigree of supporting ambitious businesses on their scale-up journeys, BGF was a natural fit. The PureCyber team and I are committed to growing the business to support the ever-increasing needs of the global SME and enterprise market and are delighted to be working with an investment partner that shares our vision for the future.”
“This investment marks a pivotal moment for PureCyber. It will enable us to enhance our service offerings, reach a broader audience, and continue our mission of providing best-in-class cybersecurity solutions. We are excited about the opportunities ahead and remain committed to protecting businesses from the ever-evolving landscape of cyber threats.”
Ben Marnham, a highly experienced former tech CEO and Chair, has joined as NXC and comments, “PureCyber has excellent growth potential: the market is expanding & its track record suggests that the culture, proposition & delivery are all on point. I am looking forward to joining the board and working alongside BGF, Damon, and the wider PureCyber team.”
Lexington Corporate Finance acted as the lead Corporate Finance Advisor to PureCyber. Thomas Edwards, Director at Lexington, said, “We are delighted to have acted for PureCyber on this important transaction. The business is a market leader in the sector and is an example of a high-growth, Welsh technology business offering a dynamic solution to its customers both in the UK and internationally. Lexington is excited to see the next stage of growth of the business, led by Damon with support and guidance from BGF and the wider team.”
The deal was led for BGF by Hannah King and Edwin Davies, investors in BGF’s Wales and South West team.
Commenting on the deal, Hannah King, Investor at BGF, said, “PureCyber represents an exciting opportunity to back a high-growth and high-profile business that is operating in an attractive part of the cyber market. We are proud to be investing in an ambitious team with a clear vision for the future and look forward to adding another dynamic technology business that is flying the flag for Welsh enterprise to our portfolio.”
