Cyber firm targets growth with £250,000 support

A cybersecurity firm is eyeing market growth after securing £250,000 support.

Melius CyberSafe has been backed by the North East Venture Fund.

The Newcastle-based operator says the cash will aid the roll-out of a “new and more powerful version” of its online monitoring platform.

Continuously analysing the IT networks, websites and mobile apps of clients including Virgin Wines, Crafter’s Companion and Jules B, the technology simulates attacks to detect weaknesses.

The firm also helps users gain standards such as Cyber Essentials.

Richard Brown, Melius CyberSafe chief executive, said the investment will bolster support for businesses at a time of heightened cybersecurity awareness following Marks & Spencer’s high-profile security breach.

He said: “The recent attacks 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 threats and take swift action.”

The firm’s funding boost follows previous support from the North East Venture Fund – which is supported by the European Regional Development Fund and managed by Mercia – to develop its technology in 2022.

Ian Wilson, Mercia fund principal, added: “We are proud to have played a key role in the success of Melius CyberSafe. 

“Traditional cybersecurity is beyond the reach of many small firms due to high cost, but CyberSafe helps to solve this problem by automating key processes.”

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