Existing shareholders provided the convertible debt as part of a wider £20m funding package to support the company towards profitability.
"I’m delighted to announce this funding round, including £12.5 million from HSBC, which follows another exciting and fast paced year for Yoti. We’re growing quickly and this £20 million funding should comfortably see us through to profitability."
Concept Ventures backed the pre-Seed round alongside high-profile angel investors to support the data-centric security startup.
"Data has become the most valuable asset a company owns, but evolving workplace habits that require greater collaboration and sharing of data are putting enormous pressures on enterprise security. Imagine being able to receive your banking password via WhatsApp or X without having to worry about compliance or security issues. Klarytee is transforming enterprise security architecture by helping teams to be more productive across the platforms that they use every day while embracing the latest technologies from AI to cloud."
The follow-on funding from BGF brings the company's total raised to £11.5m.
"This investment is a testament to the progress OSL has made since our initial collaboration with BGF. The infusion of £3.5 million is dedicated to continuing our trajectory of technological advancements and product development. Importantly, it enables us to invest in our most valuable asset—our people—creating job opportunities and reinforcing our commitment to excellence in business development."
The partnership with ECI Partners will accelerate global growth and product development for ISMS.online.
"Our alliance with ECI is a game-changer, allowing us to scale at pace and enhance customer value without compromising our core principle of user-first innovation."
Mercia Ventures led the Series A round to support product development and industry partnerships.
"Risk Ledger provides us with a more holistic, real time view of our complex supply chain, helping to identify and remediate potential vulnerabilities and issues early."
— David Malkin, former Divisional Information Security Officer at the UK Health Security Agency