SureCloud has secured a multi-million-pound venture debt facility.
The London-based risk management and cybersecurity provider will use the funding to accelerate its plans for expansion into the US and forge a new direction for the company.
SureCloud has been operating for more than 15 years, supporting the governance, risk and compliance market and cyber and risk advisory services of major corporate firms.
The company operates across multiple sectors, including banking, manufacturing and government, implementing flexible, cloud-based solutions that focus on user experience, data aggregation and artificial intelligence that helps clients de-mystify risk, compliance and cybersecurity.
Now, with the support of the funding from growth lending specialists BOOST&Co, it says it is seeking to build on its recent success and plot a new path forward that will shape the industry in 2021 and beyond.
“SureCloud has already demonstrated 40% growth per year for the last five years but, as the firm has begun to scale, it has had to invest heavily in its own growth,” said Ryan Sorby, principal at BOOST&Co and head of the lender’s Manchester office.
“The team is expecting to double the size of its US operations during the next couple of years, as well as scale its UK client base, but they need growth funds to support this and our investment provides exactly that.”
Meanwhile the firm has appointed Caren Havelock to the newly created position of chief marketing officer.
She joins from Ping Identity where, for over four years, she built and led the EMEA marketing team.
“I’m delighted to be joining the SureCloud team on the eve of a pivotal chapter in the company’s growth,” she said.
“I’ve seen first-hand the security challenges present in an increasingly complex IT landscape. SureCloud is not only committed to overcoming these challenges for individual businesses, but revolutionising the industry as a whole.”
SureCloud CEO Richard Hibbert said: “We’re thrilled that BOOST&Co is with us on this journey. We’re confident that SureCloud will have a game-changing impact on the cybersecurity, compliance and risk management landscape in the coming years, and this funding will help support our exciting plans for growth and expansion.
“I am thrilled to have Caren’s talents at the company, and I am sure she will play a key role in our quest to becoming the go-to organisation for subscription-based integrated risk management and tech-enabled cyber services.”