Leeds-based RapidSpike secures £1m
Posted on September 18, 2020 by Alistair Hardaker
Leeds-based RapidSpike, a website performance and security monitoring firm, has secured £1m in funding to enhance and scale its product and expand its client base.
The firms existing clients include William Hill, Npower and major US brand retailer Helen of Troy, the owner of Revlon, Braun and Honeywell.
RapidSpike’s platform monitors websites to identify slow-loading pages and real user journey activity. It also includes a feature that detects cyberattacks in which data such as customer payment details and personal information are targeted.
RapidSpike was founded in 2015 by Andrew Mason and Robin Hill, and the business is now led by CEO Gav Winter, the founder of IT consultancy The Test People.
He joined in 2018 to drive the company’s growth. All members of the senior management team have previous experience of successfully building and exiting tech businesses.
The £1m investment by Manchester-based Praetura Ventures was led by Guy Weaver and Sim Singh-Landa.
RapidSpike CEO Gav Winter said: “The online retail market has been supercharged this year, sharpening the focus on both customer experience and security. Today’s online consumers are sophisticated and have high expectations of transactional websites, meaning companies must ensure an outstanding user experience.
“At the same time cybersecurity threats are increasing all the time and businesses are recognising that they must invest to protect themselves and their customers.
“The team at Praetura Ventures have proved that they understand our business and our market. Their funding and the experience and expertise they bring to the table will allow RapidSpike to continue to improve our suite of products and grow our blue-chip client base.”
Praetura Ventures has invested in 13 businesses in the past 18 months, including investments into AI and machine learning business Peak and online delivery platform Sorted.