NorthEdge has backed the cyber security distributor using its SME Fund to accelerate international expansion.
"Cyber security has quickly become one of the largest high-growth markets with revenues in the sector nearly doubling between 2017 and 2020. The impact of COVID-19 has led to widespread remote working and the increasing threat of more sophisticated cyber-attacks are likely to drive long term demand in the sector."
Eldridge led the Series B round alongside existing backers Index Ventures, Sussex Place Ventures, and Contour Ventures.
"The pressure on business leaders to deliver more change at a faster pace, and with more resiliency, is not new. However, the move to a distributed and remote workforce has made it ever more challenging. As a result, we are seeing digital transformation and the drive to move work from analogue to digital, rising rapidly on the C-level agenda,"
The financing round drew participation from Legal & General, Tencent, and QVentures to support genomics software development.
"We are thrilled to be supporting Congenica in developing their world-leading technology to deliver life-changing answers. At QVentures, we strive to support cutting-edge technology companies that really change how an industry operates and we believe David and his team are doing just that. We are pleased that QVentures’ Family Offices and UHNWI investors could join us on that journey."
Graham McDonald led the investor consortium, with funds directed towards team expansion and technological enhancements.
"With existing users in 89 countries and growing, our long-term aim is to become one of the leading global healthcare education providers and to form a worldwide network that can be used to address global healthcare challenges. This investment represents a major step forward in fulfilling our ambitions."