Melius Cyber Consultancy secures £500k from Mercia to expand platform
The Newcastle-based cybersecurity business has raised its second funding round within a year from the North East Venture Fund.
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.
Newcastle-based cybersecurity firm Melius Cyber Consultancy has secured £500k in a funding round backed by the North East Venture Fund, supported by the European Regional Development Fund and managed by Mercia.
The capital will be used to enhance the company platform and expand its client base across the market. This transaction follows an initial £350k investment from the same backer in June 2022.
The business has recently strengthened its leadership team with the appointment of Matt Little as Chair as it prepares for its next phase of growth.
Investor perspective
"Cybersecurity is no longer viewed as an optional extra but as an essential service, one that is required for reporting, insurance and governance purposes. Melius’s platform could solve the security headache for many SMEs."
Ian Wilson
Fund Principal, Mercia
Use of funds
- 01Continue product development
- 02Accelerate go-to-market
Investors
Categories
About the company
Melius Cyber Consultancy
An automated cybersecurity platform that helps smaller businesses detect IT vulnerabilities.