Cyber security firm ZoneFox bags £3.6m Series A
Edinburgh-based business will use finance to will triple its headcount to 30, move to a new headquarters in Edinburgh and open a London office
ZoneFox, an Edinburgh-based cyber security firm, has landed a £3.6m Series A funding round led by angel investment syndicate Archangels, The Scottish Investment Bank and TriCap.
Founded in 2012, ZoneFox provides security systems to help businesses fend of cyber security threats across financial, pharmaceutical, gaming and other sectors.
It counts Craneware, Zenith Bank and Rockstar Games as customers, who can use the platform’s dashboard to see where their data is going, who is accessing it and who is doing things they shouldn’t be.
The funding will be used to grow the business over the next year, investing in product development and innovation. ZoneFox will triple its headcount to 30 by the end of the year, move to a new headquarters in Edinburgh and open a London office.
Dr. Jamie Graves, CEO of ZoneFox, commented: “We have established a strong reputation and generated a lot of interest from some global organisations, which have in turn become clients. Having the funding and support of Archangels, The Scottish Investment Bank and TriCap will allow us to continue to grow and develop ground-breaking solutions that will protect businesses.”
Niki McKenzie, investment director at Archangels, added: “Archangels’ investors were keen to lead this round of follow on funding in an area that is currently underserved. Customers using ZoneFox report that the product is helping them to shape more robust, tailored and effective IT policies, alerting them to security threats from within their own walls.”