The investment round was led by Evolution Equity Partners with backing from Resonance and Connect Ventures.
"Security, IT and compliance teams have no visibility into the data employees are storing and sharing across third-party SaaS applications. They are suffering from alert fatigue and are overwhelmed with the amount of notifications they have to address,"
Foundation Capital led the investment round, which will fund team expansion and product updates.
"In the wake of a challenging year for the crypto market, Coincover is in high demand, as businesses and consumers scramble to safeguard their digital assets."
The funding will support equipment for upcoming trials and team expansion.
"Our hardware-based solution has none of the disadvantages of current systems and makes the addition of security a ‘no brainer’. The funding will help us to take the final step and bring it to market."
The financial crime platform has secured £3.1m in a pre-series a funding round.
"An estimated 2.7% of global GDP is lost every year to money laundering and associated crimes, enriching criminals and organised crime groups at the expense of people, businesses and our planet, so the importance of ramping up our collective ability to detect and disrupt these threats cannot be underestimated. Through its technology, insight and intelligence, Themis aims to help individuals, businesses, not-for-profit organisations and governments to address their financial crime risks. We couldn’t be more excited about the direction we’re headed in the new year"
The investment brings the company's total seed funding to £6m and will support international growth.
"We’ve put ourselves in a very strong position to deliver on our ambitious 2023 objectives. I am grateful for the support of our new and existing investors and we’ll now continue to show them that they have made a brilliant choice."