Coventry University spin-out CyberOwl secures £150,000
Start-up has created software which can provide early warnings of cyber attacks by monitoring targets for unexpected behaviour
Cyber security start-up CyberOwl, a joint venture between Coventry University and Crossword Cybersecurity Plc, has closed £150,000 in Seed Enterprise Investment Scheme (SEIS) investment from Mercia Fund Management in order to develop its network security software.
Created by Dr Siraj Ahmed Shaikh, CyberOwl's software is able to give brands and organisations early warnings of cuber attacks through target-centric monitoring where it focuses in on high value targets and looks for abnormal behaviour.
The start-up says its software is more efficient, scalable, and cost-effective than current security networks, and believes it is primed to capitalise on the growth of smart cities and the Internet of Things (IoT).
Its software has already been used to provide early warnings of the Heartbleed bug; a serious flaw in the OpenSSL encryption that was first exposed in April 2014.
CyberOwl director Shaikh commented: “It is vital that leading edge British cyber security research has real world impact and the work we’re doing here is directly applicable to the IoT on which we increasingly rely in our connected communities.”
Dr Brijesh Roy, Mercia investment manager, continued:
“We are pleased to provide CyberOwl with its first funding. The company has already received technical validation for its product and […] we are confident that this software will be adopted on an international scale as networks continue to diversify and grow.”