RazorSecure bags £2.6m to protect passenger transport systems
RazorSecure has secured £2.6 million funding.
The Basingstoke firm, which protects passenger transport systems from cyber risks, plans to more than double its workforce from 12 to 27 and drive European and US expansion.
The funding comes from a consortium of international investors: Mainport Innovation Fund II, Wentworth Limited, and Breed Reply.
Founded by Alex Cowan in 2015, RazorSecure has raised more than £4m to date.
Alex Cowan, Founder, RazorSecure said: “2019 was a good year for RazorSecure as we secured great international customers and partners.
“With the strategic vision and investment of our investors, we aim to more than double the size of our team, and expand our international customer base. We want to take advantage of the incredible growth opportunities we see.
“The world is waking up to the vulnerability of transport systems to cybercrime. Since May 2018, the European NIS Directive requires transport organisations to ensure active intrusion protection against cyber risks. Vulnerabilities exist in the most unlikely places throughout a network, and a transport network with many moving vehicles is particularly challenging to protect.
“Attacks on ‘non-critical’ networks such as entertainment systems or passenger Wi-Fi seem relatively harmless but can be a gateway for hackers to ‘critical’ safety systems.”
RazorSecure’s primary customers are in the rail and aviation sectors. The company’s ambition is to serve a broader market including the automotive and shipping industries.
RazorSecure has worked with transport operators and system suppliers such as Arriva, Icomera, Nomad Digital and VT Miltope to defend their brand reputation and operational continuity in their systems from cyber-attacks.