London and Luxenburg-based Haven Cyber Technologies Group has secured £5.1m from C5 Capital and announced two new appointments.
Andrew Miller had been appointed as Group Chief Financial Officer, and James Armstrong had been appointed Finance Director of ITC Secure, one of Haven Group’s operating companies, to lead the next phase of growth.
Haven Group, the European focused pure play cybersecurity provider, provide enterprises with cybersecurity services and products via its operating companies, ITC Secure and Onevinn.
The new investment from C5 Capital will support the Haven Group’s organic growth as it focuses on enhancing its solutions, products and consulting competencies to achieve its objective of being a premier European Managed Security Service Provider (MSSP).
Miller will support the Haven growth plan by leading financial planning, reporting and risk management across the Haven Group.
Based in ITC Secure’s London office Miller brings more than 20 years’ experience in finance and operational roles in the technology sector, with corporate and commercial expertise in the US, UK, Europe, Australasia and South America.
He joins the Group from Corero Network Security plc, an AIM-listed cybersecurity business, where he was Chief Finance Officer and Chief Operating Officer.
He has also held senior roles at Datatec, where he led the acquisition and integration strategy of 15 global cybersecurity businesses into the Logicalis Group, Standard Bank, WestLB and Coopers & Lybrand.
James Armstrong has been appointed Finance Director at ITC Secure. Armstrong was previously Chief Financial Officer at 6point6, a technology consultancy specialising in digital transformation, cybersecurity, data and emerging technologies, and prior to that was Finance Director at Bain Capital.
At ITC Secure, he will focus on supporting the business’ growth plans as well as managing the financial and risk aspects of the business.
The Haven Group said it has seen strong demand for its services during the global Covid-19 outbreak, where a spike in cybersecurity threats has put additional strain on businesses and their cyber resilience.
Sir Mick Davis, Board member of Haven Group, says: “The Covid-19 pandemic has demonstrated more clearly than ever the importance of having robust cybersecurity in place. Many organisations do not have the in-house expertise to manage this issue; through Haven Group they can access a broad range of sophisticated services and solutions to protect against the significant threat of cyberattacks to their businesses.
“This investment from C5 Capital and the addition of Andrew and James further strengthens the strong team to deliver on the Haven Group growth plans.”
Andre Pienaar, Founder and Managing Partner of C5 Capital, adds: “There is a clear market opportunity for the Haven Group. It has already seen strong organic growth over the last year and, with this additional investment and bolstered management team, we’re confident that the Group will continue to unlock this potential.”