Melius Cyber Consultancy secures £350k pre-seed investment from Mercia to expand its automated security platform.
Mercia provided the pre-seed backing through the North East Venture Fund to support software development and team expansion.
Melius Cyber Consultancy provides an automated cybersecurity platform designed to help small and medium enterprises detect IT vulnerabilities and manage risk. The business operates as a spin-off from the Melius Group.
Melius Cyber Consultancy has raised £350k in a pre-seed funding round led by Mercia via the North East Venture Fund. The capital will be directed towards expanding the firm's sales and marketing footprint, alongside product development initiatives aimed at the financial services sector.
The Newcastle enterprise offers continuous IT network monitoring and automated penetration testing tailored specifically for small and medium-sized businesses. Founded in 2019 by former Bank of England specialist Dave McPherson, the company plans to use the fresh injection of capital to grow its client base and hire five additional staff members over the coming six months.
From the founder
"Cybersecurity is a growing problem for businesses, particularly with the rise in home working, and it is no longer enough to rely on off-the-shelf solutions such as spam filters and firewalls. Big companies regularly stress test their network, but the cost is prohibitive for smaller firms."
Richard Brown
CEO at Melius Cyber Consultancy
Investor perspective
"CyberSafe fills a gap in the market for a product that provides security testing at a price that SMEs can afford. It not only helps them prevent attacks, but also to comply with recognised standards and provide reassurance for customers and suppliers. The investment will help Richard and the team to target the growing cybersecurity market."
Ian Wilson
Fund Principal, Mercia
Use of funds
- 01Invest in sales and marketing
- 02Continue product development
- 03Grow the team
Investors
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About the company
Melius Cyber Consultancy
An automated cybersecurity platform that helps smaller businesses detect IT vulnerabilities.