RapidSpike secures £1m from Praetura Ventures to scale its website monitoring and security platform.
Manchester-based Praetura Ventures led the funding round to help the Leeds technology firm enhance its product and expand its client base.
RapidSpike provides a monitoring platform that helps businesses defend against customer-focused cyberattacks and improve website performance. The Leeds-based firm serves an international roster of blue-chip clients.
RapidSpike has secured £1m in seed funding from Manchester-based investor Praetura Ventures. The capital will be deployed to enhance the company's product suite and expand its client base.
The Leeds-based business operates a platform that monitors consumer interfaces to detect cyberattacks and improve digital performance. The funding follows a period of heightened demand driven by increased online traffic during pandemic lockdowns.
Praetura Ventures led the financing through its team, adding RapidSpike to its portfolio of regional technology investments. The company already counts major brands among its clients and generates a significant portion of its revenue outside the UK.
Investor perspective
"RapidSpike is one of the most exciting young businesses in the North’s tech scene, with a unique platform that allows businesses to build safe, reliable and secure ecommerce websites. We have all seen the huge financial and reputational impact cyber breaches can have on businesses. RapidSpike is well-placed to support the growth in ecommerce and help to protect against the rise of cybercrime and particularly the Magecart threat."
Sim Singh-Landa
Head of the GMC Life Sciences Fund by Praetura, Praetura Ventures
Use of funds
- 01Continue product development
- 02Expand into international markets
Investors
Categories
About the company
RapidSpike
RapidSpike provides website performance monitoring and cybersecurity defence for consumer-facing businesses.