What's Happening?
CybaVerse, a cybersecurity company based in Chichester, has successfully closed a Series A funding round, raising £5 million. The investment was led by Pembroke VCT, Airbridge, and Haatch, and aims to
transition the company from founder-led sales to a scalable SaaS growth model. Founded in 2018, CybaVerse has evolved from a boutique consultancy into a recognized UK cybersecurity vendor, employing nearly 40 people and serving a growing customer base. The funding will be used to accelerate sales and marketing efforts, expand the team, and continue product development of its proprietary platform, CybaOps. CEO Oliver Spence expressed excitement about the new chapter for CybaVerse, emphasizing the validation of their vision to empower MSPs and SMEs with innovative solutions.
Why It's Important?
The funding marks a significant milestone for CybaVerse, enabling the company to enhance its AI-driven features and expand its team, which is crucial for scaling operations and improving cybersecurity offerings. This development is particularly important for small and medium-sized enterprises (SMEs) and managed service providers (MSPs) that rely on CybaVerse's solutions for detection, compliance, security, and testing. As cybersecurity threats continue to evolve, the ability to offer smarter, scalable security solutions is vital for protecting businesses and maintaining trust in digital operations. The investment also highlights the growing interest and confidence in cybersecurity innovations, which are essential for safeguarding sensitive data and ensuring business continuity.
What's Next?
With the new funding, CybaVerse plans to accelerate the development of CybaOps, its proprietary platform, and enhance AI-driven features to offer more robust security solutions. The company aims to expand its team to support these efforts and increase its market presence among MSPs and SMEs. As CybaVerse transitions to a scalable SaaS growth model, it will likely focus on broadening its customer base and strengthening its position in the cybersecurity industry. The successful Series A round may also pave the way for future investments and partnerships, further solidifying CybaVerse's role as a key player in the cybersecurity sector.
