PureCyber Secures $6.45 Million Investment from BGF to Drive Growth

Cardiff-based cybersecurity firm PureCyber is poised for significant growth after securing a $6.45 million (£5 million) equity investment from BGF. The company, founded in 2016 by CEO Damon Rands, offers a comprehensive range of cybersecurity solutions and acts as an outsourced provider for businesses seeking to strengthen their defenses against cyberattacks.

PureCyber's subscription services encompass brand protection, incident response, global penetration testing, and fully managed security operations center services. The firm, which employs a team of 37 cybersecurity specialists, has adopted an “affordable, entry-level approach” to attract clients of various sizes across different sectors.

Damon Rands, CEO of PureCyber, expressed his enthusiasm for the investment, stating, “Having successfully scaled the business since its inception in 2016, it was a natural time to look ahead to the next phase of growth.” He emphasized that BGF's experience in the technology market and their track record of supporting ambitious businesses made them a “natural fit” for PureCyber. Rands also highlighted the opportunity to work with Ben Marnham, who has extensive experience with fast-growth tech scaleups.

The funding, led by BGF, one of the largest growth capital investors in the UK and Ireland, will be used by PureCyber to expand its client base within the SME market and increase its market share among larger, global enterprises. BGF investor Hannah King commented on the investment, noting, “PureCyber represents an exciting opportunity to back a high-growth and high-profile business that is operating in an attractive part of the cyber market.” She added, “We are proud to be investing in an ambitious team with a clear vision for the future and look forward to adding another dynamic technology business that is flying the flag for Welsh enterprise to our portfolio.”

The investment will enable PureCyber to further its mission of providing robust cybersecurity solutions to a broader audience. By targeting both SMEs and larger global enterprises, PureCyber aims to solidify its position in the cybersecurity market and continue its trajectory of growth. This strategic move is expected to enhance the company's ability to deliver high-quality, managed security services and support businesses in safeguarding their digital assets.

As PureCyber prepares for this new phase, the company remains committed to its core values of affordability and accessibility. The investment from BGF will not only facilitate the expansion of PureCyber's services but also reinforce its commitment to protecting businesses from the ever-evolving threats in the digital landscape.

In summary, the $6.45 million investment from BGF marks a significant milestone for PureCyber. With this financial boost, the Cardiff-based firm is well-positioned to expand its reach and impact in the cybersecurity sector. By leveraging BGF's expertise and resources, PureCyber is set to advance its growth strategy and continue providing essential cybersecurity solutions to businesses across various industries.