CloudGuard secures equity funding from NPIF II, Praetura Equity Finance to expand its Manchester hub and accelerate talent development
The investment was led by Praetura Ventures to support regional team growth and cybersecurity research.
CloudGuard is a Manchester-based cybersecurity specialist focusing on automation and AI-led threat detection, protection and response services. The company provides adaptive security solutions to small and large enterprises across various sectors.
Manchester-based cybersecurity start-up CloudGuard has secured equity funding from NPIF II, Praetura Equity Finance to expand its regional footprint and scale its workforce. The investment will support the creation of up to 20 new jobs in the area, growing the team from 30 to 50 employees.
Managed by Praetura Ventures under the Northern Powerhouse Investment Fund II mandate, the funding will also be directed towards strengthening artificial intelligence research with local universities and expanding the CloudGuard Cyber Academy to nurture early-career and career-transition talent.
From the founder
"Unfortunately for many businesses, the complexity and volume of cyber events is increasing every day. More effective use of Automation and AI is fundamental to enabling better detection, protection, response and resolution outcomes, but equally as threats continually evolve so to must our capabilities. Response time is critical to mitigating the impact of cyber events in any business, as well as improving business resilience. CloudGuard are striving to provide more cost-effective, more responsive resolution-based services for all businesses with leading security solutions from Microsoft and other partners. Manchester is our home. It’s such an amazing City, rapidly becoming one of the UK’s leading cyber hubs. We are thrilled with the Northern Powerhouse investment and plans to accelerate our business and talent."
Matt Lovell
CEO at CloudGuard
Investor perspective
"Manchester has grown to become a leading cybersecurity ecosystem over the last several years because of companies like CloudGuard and their commitment to developing and growing the next generation of cybersecurity specialists locally. Alongside Matt and Javid’s extensive domain expertise and experience, this commitment is what attracted us to invest and sums up why NPIF II is so important. The mission is to find and fund innovative businesses that are not only committed to their own growth but to the region’s growth as a whole – CloudGuard is one of those businesses and is doing exceptional work in its field."
Michael Rees
Investment Manager, Praetura Ventures
Use of funds
- 01Grow the team
- 02Fund research and development
Investors
Categories
About the company
CloudGuard
CloudGuard provides automated and AI-driven cybersecurity and threat detection services for businesses.