Gresham House Ventures has invested £5.5 million into OnSecurity, a cybersecurity services business providing independent third-party penetration testing services.
Established in 2018 and based in Bristol, OnSecurity has built a technology platform to efficiently deliver pentests that identify and address vulnerabilities in computer systems, networks and web applications.
The business provides human pentesting services via a platform technology that automates traditionally manual, cumbersome processes such as booking, scheduling and reporting.
The business has grown rapidly since launch to serve almost 300 clients.
The investment will enable OnSecurity to accelerate new customer acquisition and further develop and leverage its existing technology platform through R&D. This is OnSecurity’s first institutional investment round.
As part of the investment, Grace Cassy will join the board as non-executive chair, bringing significant experience of supporting some of the world’s leading cybersecurity businesses.
“OnSecurity have built a robust and differentiated platform offering in a market that has historically been plagued with manual processes and poor customer experience,” said Steve Carle, GHV operating partner at Gresham House Ventures.
“We believe the business is well placed to expand its client base further over the coming years and support businesses and organisations worldwide in the face of new cybersecurity challenges.
“We look forward to working closely with [CEO] Conor [O’Neill], Grace and the OnSecurity team over the coming years to bring OnSecurity’s innovative solutions to a wider market.”
O’Neill added: “Securing our first external investment marks an important moment for OnSecurity as we look to further advance our platform’s capabilities and bring our streamlined solutions to more clients.
“Gresham House Ventures has a fantastic track record of helping to scale up technology-enabled businesses like ours and we are confident that this backing will play a key role in driving the next stage of growth for OnSecurity.”