In a significant boost for cybersecurity, MELIUS Cyber, a Newcastle-based innovator, has successfully raised £500,000 from the North East Venture Fund (NEVF), bolstered by the European Regional Development Fund and managed by Mercia. This funding aims to enhance their cutting-edge platform, CyberSafe, designed specifically for small and medium-sized enterprises (SMEs) to swiftly identify cyber risks.
The CyberSafe platform offers around-the-clock monitoring of an organization’s IT infrastructure, including networks, websites, and mobile applications. By automating vulnerability scanning and conducting simulated penetration tests, MELIUS Cyber not only helps businesses discover weaknesses in their systems but also supports them in achieving important security accreditations like Cyber Essentials and ISO 27001.
The upcoming version of CyberSafe promises enhanced features, including advanced reporting and analytics, built-in anti-ransomware protection, improved email security, and the capability to identify over 250,000 vulnerabilities daily. With over 60 clients, including prominent names like Virgin Wines, Crafters Companion, and Jules B, MELIUS Cyber is poised for continued growth.
Richard Brown, CEO of MELIUS Cyber, emphasizes the urgency of their mission: “It is bad enough if a cyberattacker breaches your system, but the damage can be far greater if you are not aware of it. CyberSafe reduces the average time it takes to detect a breach from 277 days to just one, enabling companies to take swift action.” This significant reduction in detection time showcases the platform’s potential to save businesses from catastrophic breaches.
The recent funding round brings MELIUS Cyber’s total capital raised to £1.35 million and will support the establishment of a full security operation center (SOC) and a security information and event management (SIEM) solution. Additionally, this investment will allow the company to expand its team, creating six new job opportunities.
Ian Wilson, Fund Principal at Mercia, expressed his enthusiasm for MELIUS Cyber’s trajectory: “Mercia has an in-depth knowledge of the cybersecurity market. Having supported MELIUS early on, it’s been rewarding to see its progress with each funding round. CyberSafe solves a security headache for SMEs, and this latest investment will enable Richard and the team to establish it as a leader in its field.”
Editorial Opinion
MELIUS Cyber stands at the forefront of a crucial market, where the threats to cybersecurity are constantly evolving, particularly for SMEs that often lack the resources to combat sophisticated attacks. By offering a comprehensive, user-friendly platform, MELIUS Cyber not only addresses immediate security needs but also empowers smaller businesses to maintain compliance and secure their operations. The company’s commitment to rapid breach detection and robust monitoring solutions reflects a profound understanding of the landscape, making it an invaluable partner for organizations navigating the complexities of cybersecurity.
As the demand for advanced cybersecurity solutions continues to rise, MELIUS Cyber is strategically positioned to capitalize on this trend. With its focus on automation and real-time monitoring, the company is not just reacting to threats but proactively equipping SMEs with the tools they need to safeguard their digital assets. The forthcoming enhancements to CyberSafe, particularly the integration of AI capabilities, further underline the company’s commitment to innovation and excellence in cybersecurity.
In a world where cyber threats loom larger each day, MELIUS Cyber is paving the way for a more secure future for businesses, ensuring that even the smallest organizations can effectively combat cyber risks.
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