Melius CyberSafe, a Newcastle-based cybersecurity firm, has secured an additional £250,000 in funding from the North East Venture Fund (NEVF), managed by Mercia Ventures. This latest investment aims to bolster the company’s CyberSafe platform, which provides robust cybersecurity solutions for Small and Medium-sized Enterprises (SMEs).
The funding, supported by the European Regional Development Fund, signals continued confidence in Melius CyberSafe’s mission to make sophisticated cybersecurity accessible to SMEs, a sector increasingly targeted by cybercriminals.
The CyberSafe platform offers continuous cybersecurity monitoring and automated penetration testing, providing what the company describes as “big business security” for smaller firms. This new capital injection will be used to expand Melius CyberSafe’s market share, particularly following the launch of an enhanced version of its platform earlier this year. The platform was initially developed in 2022 with previous funding from Mercia and the NEVF. To date, Melius CyberSafe has raised a total of £1.6 million.
Richard Brown, CEO of Melius CyberSafe, highlighted the urgency of the firm’s work: “The recent attacks on leading retailers should be a wake-up call for every company.” CyberSafe aims to make cybersecurity accessible for businesses of all sizes, enabling them to rapidly detect any threats and take swift action. We would like to thank Mercia and the NEVF for their support to help us develop the platform, bring it to market, and – with this latest funding round – to further expand our reach.”
Melius CyberSafe has demonstrated significant growth, nearly doubling its annual recurring revenue (ARR) to over £500,000 in the past twelve months, with a trajectory to achieve £1 million in ARR in the upcoming year. The company has also successfully onboarded several key distribution partners.
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