CyberSmart raises £5.5m in Series A funding led by IQ Capital to fuel expansion

"I set up CyberSmart after witnessing first-hand how SMBs suffer data breaches and realising that hundreds of thousands of businesses were suffering cyberattacks. When we started, 74% of SMBs had a breach that year. If 74% of buildings caught fire, there would be fire stations on every corner. The technology is now there that enables us to automate protecting SMBs by implementing a cloud-based platform that is both simple and cost effective to deploy, backed by a Cyber Essentials Certification. Businesses have gone through two stages, the first phase was rapid, digital transformation that was all about connectivity, communication, basically getting your team and your company back online remotely. Phase two is now. We have spent all these years building our secure, corporate infrastructure or drilling into people these secure working practices, but that has all gone out the window because everyone is now working remotely. So, I think now people are thinking about how they secure their teams and their employees remotely. So that’s the big wave which we are seeing now that has been driving demand from all types of companies because our technology is automated, certified, comprehensive and can be deployed, managed and monitored remotely. CyberSmart are working with many different types of channel partners as there is a massive opportunity to reach the SMBs. For partners there are many benefits: an income stream that also prevents churn, it makes customers more sticky; but more importantly, it makes customers more secure, so that helps with cyber hygiene across the whole UK business supply chain."