HomeFundingLondon-based CyberSmart raises €1.4 million to help SMEs have greater control over...

London-based CyberSmart raises €1.4 million to help SMEs have greater control over their cybersecurity

London-based CyberSmart‘s mission is to strengthen the cybersecurity of SMEs, which tends to be weaker than that of their corporate counterparts. Its platform and products allow SMEs of any size to protect themselves easily and affordably, and be compliant with UK regulation.

The startup has secured €1.4 million in financing led by deep-tech investor IQ Capital, after two years in stealth mode. This funding will allow CyberSmart to further accelerate its rapid growth, build next-generation technical capabilities and secure Britain’s future as a leader in cybersecurity.

CyberSmart is able to automatically check, fix, and certify for Cyber Essentials compliance – a UK government cybersecurity certification that is recommended by the Information Commissioner’s Office (ICO) and is increasingly required across supply chains in multiple industries.

A Cyber Essentials certification is easily attainable the same day via the CyberSmart platform, reducing the cost and resources typically required to achieve compliance to a matter of hours. SMEs are able to maintain 24/7 compliance across all their devices, including laptops and mobile, a considerable challenge for most SMEs. The platform offers simplicity and scalability to a complex and manual process.

The startup uses machine learning to assess and address a company’s cyber compliance and vulnerabilities, and having recently emerged from stealth, is already being used by fast-growing startups and more established organizations.

CyberSmart helps organizations identify weaknesses in their information security practices and develop proactive strategies to address cybersecurity threats, thwarting up to 99.3% of cyber threats.

“Having been in stealth mode since 2017, through both GCHQ’s Cyber Accelerator and CyLon, we’re excited to be able to scale our operations and start talking about how we’re helping to protect our nation’s most promising businesses from cyber threats,” said Jamie Akhtar, CEO of CyberSmart. “This funding will enable us to achieve scale within our home market and invest in enhanced technical capability.”

The round was led by the deep tech UK-based VC IQ Capital, which recently raised a €270 million fund to continue deploying capital to deep-tech and AI startups.

“CyberSmart is a superb example of the types of companies that IQ Capital invests in – deep tech startups with the potential for global scale,” said Kerry Baldwin, partner at IQ Capital. “Cybersecurity is now at the top of the agenda at board-level for all data-rich businesses, however, few have proactive strategies in place to tackle the issue. CyberSmart is backed by the Government to help and certify businesses, and we are excited to be part of their growth journey.”

“CyberSmart was recommended by our own clients who use the platform. They speak our language and are in tune with the requirements of SMEs,” said Sally Blake, marketing director at Legal Edge. “Their platform and processes were clearly explained and easily navigated and their responsive platform enables us to communicate and track our compliance activity. The team are extremely helpful, friendly and knowledgeable supporting you at every step of the journey.”

Founded in 2017 by Jamie Akhtar and Mariella Thanner, CyberSmart was selected to take part in the first GCHQ accelerator programme. From this, the companies were able to have access to government tenders and work with GCHQ’s international network of partners.

Mary Loritz
Mary Loritz
Mary served as Head of Content at EU-Startups.com from November 2018 until November 2019. She is an experienced journalist and researcher covering tech and business topics.

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