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BGF invests £5 million into Welsh cybersecurity firm PureCyber

One of the fastest-growing technology companies in Wales, it acts as an outsourced cyber team for SMEs.

9 July 2024

The Cardiff-based consultancy firm PureCyber has secured a £5 million investment from BGF. Founded in 2016, by CEO Damon Rands, PureCyber provides a broad range of cybersecurity solutions, acting as an outsourced provider for businesses looking to optimise their protection against attacks. Its unique suite of subscription services ranges from brand protection and incident response to global penetration testing and fully-managed SOC services.

Growth to date has been driven by the company’s affordable, entry-level approach making its best-in-class cyber services accessible to business across a range of sectors and sizes. It has a good foothold in the professional and financial services, manufacturing, education and sport sectors — with many global customers including large education institutions and premier league football clubs.

Today, PureCyber has a team of 37 cybersecurity specialists, and has been recognised as the ‘Most Innovative Cyber Security Company in the UK’ and ‘Best International Cyber Consultancy Firm in the UK’.

Following the investment from BGF, PureCyber is looking to become a dominant force in the cyber industry, through the continued expansion of its client base across the SME market, as well as growing its market share among larger, global enterprises. As part of the deal, Ben Marnham, a highly experienced former tech CEO and chair, has joined PureCyber as Non-Executive Chair.

“PureCyber has excellent growth potential – the market is expanding, and its track record clearly demonstrates that the culture, proposition and delivery are all on point. I am looking forward to joining the board and working alongside Damon, the PureCyber team, and BGF.”
Ben Marnham
Incoming Non-Executive Chair at PureCyber

Damon Rands, CEO of PureCyber, said: “Having successfully scaled the business since its inception in 2016, it was a natural time to look ahead to the next phase of growth. With a wealth of experience in the technology market and a pedigree of supporting ambitious businesses on their scaleup journeys, BGF was a natural fit. We are also delighted to be working with Ben Marnham who has worked with a number of fast growth tech scaleups.

“The PureCyber team and I are committed to growing the business to support the ever-increasing needs of the global SME and enterprise market, and are delighted to be working with an investment partner and a non-exec chair that share our vision for the future.”

The deal was led for BGF by Hannah King and Edwin Davies, investors in our Wales and South West team.

“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. 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’s flying the flag for Welsh enterprise to our portfolio.”
Hannah King
Investor at BGF

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