MELIUS Cyber, a startup whose platform assists companies in identifying cyber threats in a matter of hours, has received funding of £500k from the North East Venture Fund, which is overseen by Mercia and is backed by the European Regional Development Fund.
SUMMARY
- MELIUS Cyber, a startup whose platform assists companies in identifying cyber threats in a matter of hours, has received funding of £500k.
- Melius Cyber created the industry-leading SaaS platform Cyber Safe, which is based on continuous assessment and continuous improvement
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Follow usCyberSafe, the company's software platform, was created especially for SMEs and keeps an eye on an organization's website, mobile apps, and IT network around-the-clock.
It automates penetration testing and vulnerability scanning, which include professionals simulating assaults to find vulnerabilities. Businesses can become accredited to ISO 27001 and Cyber Essentials by demonstrating that they have monitoring in place.
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Richard Brown, CEO of Melius said: “It is bad enough if a cyberattacker breaches your system but the damage can be far greater if you are not aware of it. CyberSafe reduces the average time it takes to detect a breach from 277 days to just one, enabling companies to take swift action. This support from Mercia Ventures and NEVF will enable us to accelerate product development and incorporate new AI capabilities. We are excited about the latest version of CyberSafe and looking forward to the launch.”
Ian Wilson, Fund Principal at Mercia, added: “Mercia has an in-depth knowledge of the cybersecurity market. Having supported Melius early on, it’s been rewarding to see its progress with each funding round. CyberSafe solves a security headache for SMEs and this latest investment will enable Richard and the team to establish it as a leader in its field.”
The company will also be assisted in its efforts to develop a complete security operation centre (SOC) and a security information and event management (SIEM) system by the most recent fundraising round, which has raised a total of £1.35 million to date. With the most recent investment, CyberSafe will also be able to add six new employees to its staff and release an updated version of its CyberSafe platform.
About Melius Cyber
Melius Cyber created the industry-leading SaaS platform Cyber Safe, which is based on continuous assessment and continuous improvement using machine learning to mimic brute force attacks on vulnerabilities found and vulnerability scanning, penetration testing with decision trees integrated in, and penetration testing.
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