Episode 1, MMC Ventures and NHN Ventures backed the mobile authentication platform as it exits stealth mode.
"Digital identity is an important investment theme for us and the key to unlocking the next leg of growth for the digital economy. The kind of frictionless authentication the founders have delivered is pretty close to magic. When a team, an idea and a solution come together at the same time – that’s what being a VC is all about"
The funding round was led by Maven Capital Partners alongside the Finance Durham Fund and The Future Fund.
"We are delighted to have secured £400,000 of investment to help support us on this next stage of growth. With COVID-19 we have witnessed great change globally, which is impacting the security landscape. Intelligence Fusion has supported our clients through this period and helped them to mitigate emerging threats. With this investment we will deepen our technology to enhance our intelligence solution, as well as add to our sales and marketing teams to increase and diversify our client base into new sectors and markets."
The seed round was led by the Development Bank of Wales with backing from angel investors and Innovate UK.
"We’re delighted to have secured our first equity investment and very much look forward to continuing to grow and develop alongside the Development Bank of Wales and our Angel co-investors."
IQ Capital led the Series A investment, which will fund go-to-market expansion and research capabilities.
"We believe in people. And we passionately believe in the impact data and behavioural science can have on human cyber risk management. Our platform is for organisations who ultimately want to do more than rely just on e-learning and phishing simulations. It’s a platform that can grow with them through to when they are ready to measure security behaviour change."
Northstar Ventures and angel investors back Durham information security software provider.
"According to IBM, the average cost of a data breach in 2020 was £2.9 million. Yet most businesses are left with inefficient, costly and paper-heavy manual processes to manage this risk."