A previously-bootstrapped cybersecurity firm has raised its first investment round nine years into its journey to support its global expansion.
Manchester-based usecure is a human risk management solution for MSPs and internal IT teams and has grown to £3m ARR without external funding.
Now, it has closed its Series A investment with London-headquartered growth equity firm Kennet Partners, which invests in founder-led, bootstrapped B2B SaaS businesses.
It follows the launch of Kennet VI – a £230m fund focused on scaling high-growth software companies.
Charles Preston founded usecure in 2016 and over 400,000 end-users globally now rely on its solutions.
However, now seems a key time for usecure to take external investment for the first time – barring a ‘modest amount of seed investment’ from angel investor Tony Bolland.
“We recognised that the human risk management landscape is evolving quickly with the introduction of AI and our customers and partners require more in depth tooling to be able to properly protect their employees,” explained Preston.
“We could have continued to grow organically but we want to deliver the best in class product to market more quickly and working with Kennet will allow us to do this.
“Also with both the cyber security and MSP markets scheduled to double by 2030 we want to make sure we are positioned to become the global leader for MSP’s delivering human risk management.
“This investment marks a significant milestone for usecure, our team, and our partners.
“Our mission has always been clear – to become the global leader in human risk management for MSPs and IT teams. With Kennet’s support and expertise in scaling SaaS businesses, we’re ready to accelerate that journey, deliver more value to our partners, and drive innovation that helps organisations worldwide strengthen their human firewall.”
The investment from Kennet Partners will enable usecure to accelerate its strategic growth plans.
The company will also continue growing its team, strengthening expertise across product development, engineering and partner-focused service delivery to support its expanding global footprint and deliver greater value to its customers.
Alex Taylor-Harris, director at Kennet Partners, added: “We’re excited to back usecure at a key point in its growth. Charles and the team have built an efficient, partner-first business tackling a real and growing market need.
“We’re looking forward to helping them scale globally and strengthen their position as a leader in human risk management.”