CPP makes £1.2m investment in cybersecurity firm with plans to re-enter UK market

CPP Group plc, the Leeds-headquartered product innovation firm, has agreed to invest £1.2m to take a shareholding in the cyber risk startup KYND.

KYND will use proprietary cyber risk management technology to enable businesses to monitor and understand the cyber risks they face, take action when necessary and be alerted to future risks as they arise.

KYND was founded by Andy Thomas, who led consumer data and fraud protection company Garlik through to its acquisition by Experian and Mike Harris, the founding CEO of First Direct, Egg and ex-CEO of Mercury who will be chairman of the business.

Following the acquisition of Blink Innovation in March 2017, CPP said that the investment in KYND further demonstrates its “commitment to investing in innovative people, businesses and products that have relevance for its distribution partners internationally.”

The products developed by KYND will be available to CPP’s current and future partners later this year, creating differentiation for those partners and helping businesses manage cyber risk more effectively.

CPP plans a re-entry into the UK market in the first half of 2018 with the new products from KYND and Blink leading the relaunch.

CPP has also announced the appointment of Michael Whitfield as managing director of the new UK business. Michael will lead the company’s re-entry into the UK market by developing partner distribution opportunities that utilise the increasing product portfolio available to the business in the UK.

Commenting on the investment and the re-launch of the new UK business, CPP chief executive Jason Walsh said: “I am excited about re-entering the UK market and our investment in KYND, both of which are important steps in our ongoing commitment to innovation and new product development, ensuring our partners have access to the best products for their customers.

“Cyber threats are the fastest rising risk facing organisations across the world. KYND is a UK company with the potential for global reach and I look forward to partnering with them to help them grow.”