Wolverhampton cybersecurity firm, Goldilock, secures £1.36M investment from prominent US angel groups
A Wolverhampton-based cybersecurity firm, Goldilock, has successfully secured $1.7 million (£1.36M) in investment from two prominent New York-based angel investor groups.
In a recent seed funding round, Goldilock attracted financial support from the Harvard Business School Alumni Angels of Greater NY (HBSAANY), which is the largest angel network in New York with over 350 members, and New York Angels (NYA), whose members have played a pivotal role in fueling the growth of 300 companies by investing a total of $160 million.
Established in 2020, Goldilock expanded its operations by setting up research and development facilities in the West Midlands a year later. The company has also undergone incubation programs, including participation in the UK’s National Cyber Security Centre’s joint NCSC For Startups program in collaboration with Plexal. Goldilock further benefitted from the Ministry of Defence’s Defence and Security Accelerator, as well as several other programs, including Hub71 in the United Arab Emirates and TechUK.
KPMG has extended an invitation to Goldilock to join its esteemed Global Unicorn Program. Additionally, the UK’s National Cyber Security Centre has recognised Goldilock as one of five startups chosen to assist in addressing the persistent threat of ransomware attacks.
At the core of Goldilock’s solution, Drawbridge, lies a unique premise – that the only truly secure aspect of the internet paradoxically exists outside of it. Goldilock’s technology enables fast and convenient physical connection and disconnection of assets, all while maintaining independence from internet control. In essence, it functions as a robust kill switch or isolator, empowering organisations to effectively mitigate and contain cyberattacks.
Tom Hirschfeld, who is a member of both investor groups, commented: “In an increasingly dangerous and digital world, the cyber commands of countries such as the US, UK and Singapore are recommending or requiring that critical national infrastructure be kept physically offline whenever possible. Simultaneously, companies with sensitive digital assets need the ability to isolate those assets instantly, at the first sign of a network intrusion.
“Goldilock’s Drawbridge technology delivers an unbreakable hardware-based cyber defence solution. Based on our extensive due diligence, we believe that Goldilock’s DPNS approach (Dynamic, Physical Network Segmentation) delivers a level of safety unmatched by any other solution on the market.”
Goldilock will use the proceeds of this financing round for sales and marketing of already commercially available products, as well as building a worldwide MSSP partner and Security Vendor channel network.