Cyber security firm secures six-figure backing

A fast-growing cyber security specialist is accelerating its expansion plans after securing fresh investment to support jobs growth and AI innovation.

Precursor Technology Group has received a six-figure investment from NPIF II – NEL Debt Fund, managed by NEL Fund Managers as part of the Northern Powerhouse Investment Fund II (NPIF II).

Bosses say the funding will support the company’s expansion into new geographical markets while creating two new jobs in Newcastle.

It will also accelerate development of Precursor Intelligence, the company’s AI-powered cyber threat intelligence platform.

Designed to make advanced cyber intelligence more accessible, the platform continuously analyses global threat data from more than 160 countries, helping organisations identify risks relevant to their sector, supply chain and technology systems.

Precursor combines AI-driven analysis with expert human oversight to provide businesses with simplified, actionable cyber security insights.

Founded in 2018, the company operates from offices in Leeds, Newcastle, Edinburgh and London, offering services including penetration testing, compliance certification and a 24/7 managed Security Operations Centre.

Precursor’s Newcastle-based Security Operations Centre, launched in 2024, holds accreditation from CREST, the UK’s leading cyber security accreditation body.

Scott Cardow, chief executive at Precursor Technology Group, said: “Precursor has grown rapidly over the last few years, and now in the age of AI, we are positioned at the forefront of its use in the Cyber Security sector.

“This is now the second time we have taken investment from NEL. 

“This speaks to the ease of the process, and the fact that they are genuinely interested in seeing businesses grow. 

“It’s fantastic to have them as a true partner as we scale.”

The latest investment marks NEL’s second backing of the business as demand for cyber security and AI-driven threat intelligence continues to grow across public and private sector organisations.

Michael Williams, investment executive at NEL, who led on the investment, added: “The Precursor team demonstrate exceptional knowledge in their field and possess a thorough understanding of the market they operate in. 

“Recent high-profile incidents have highlighted the increasing importance of robust cyber security measures for businesses, and Precursor’s comprehensive suite of services directly addresses these challenges.

‘This is Precursor’s second round of investment which reinforces our continued commitment to supporting existing investees throughout their lifecycle, highlighting the value of a close, long‑term funding partnership and positions Precursor to capitalise on favourable market conditions.

“It was a pleasure to work with the team and provide investment to ensure the timely rollout of ‘Precursor Intelligence’. 

“I’m looking forward to continuing our relationship and seeing what the business does next.”

The £660 million NPIF II fund, operated by British Business Bank, provides loans from £25,000 to £2 million and equity investment up to £5 million to help small and medium-sized businesses.

Sarah Newbould, senior investment manager at the British Business Bank, added: “We’re proud to be supporting businesses through the Northern Powerhouse Investment Fund II that are bringing new technological innovations to market and supporting the Government’s Industrial Strategy. 

‘With a new AI Growth Zone in the North East, businesses like Precursor Technology Group are driving innovation in cyber security and AI, while creating highly-skilled jobs that are supporting regional economic growth.”

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