Maven Capital Partners has led a £600,000 investment in military grade security and intelligence platform, Intelligence Fusion. The funding has been provided by the Finance Durham Fund, established by Durham County Council and existing investors.
The follow-on investment will support the business as it enters its next phase of development to further invest in an in-house technology team to make significant enhancements to its platform. The investment will also strengthen the sales and marketing and intelligence team to enhance the quantity and quality of reported incidents and add artificial intelligence tools to the collection of security information. The funding will create a total of 10 new jobs.
Intelligence Fusion deliver enhanced threat intelligence and situational awareness around the globe to help protect people, assets and reputation. The business provides military grade security and intelligence information to clients either displayed on an online platform, integrated into the client’s own systems via a live data feed or from a bespoke white labelled offering.
The global Threat Intelligence market was valued at $5.1bn in 2018 and is expected to reach $17.9bn by 2025. According to Market Watch, the rising trend of digital transformation coupled with the growing number of internet and smart phone users across different regions is driving the growth of the global threat intelligence market.
Backed by a team of specialist experts with on-the-ground experience of situational threat awareness, CEO, Michael McCabe, founded the business with over 15 years’ experience in security intelligence as an intelligence operator with the British Army and in the private security industry. Michael is supported by recently appointed Chairman, ex-Microsoft Director, Robert Hayes. Robert previously held a number of roles within cyber security, crisis management, and strategic risk assessment, and was a trusted and valued advisor to Ministers, senior leaders and the UK Ministry of Defence.
Michael Dickens, Investment Manager of Maven, said, “We’re delighted to take part in this funding round as Intelligence Fusion invests in its team to meet growing demand for its product. Michael is hugely knowledgeable and has demonstrated that there’s a real and growing need for the technology the business has developed across a wide range of business sectors.”
Michael McCabe, CEO of Intelligence Fusion said “This investment will allow us to create our own internal technology team and work with experts in datamining, machine learning and artificial intelligence, so clients can expect the pace at which we develop new innovative tools and features to significantly increase. It also allows us to add to our team of intelligence analysts, taking us to 24/7 operational coverage as we challenge our domestic and foreign competitors for market share.”
Sarah Slaven, Operations Director of Business Durham, said: “It’s great Intelligence Fusion are continuing to grow and invest, they are a fantastic example of the kind of dynamic company Finance Durham was set up to help. The investment will create new jobs in this exciting growth sector in County Durham, supporting Business Durham’s strategy to deliver business and economic growth.”
If your business is in need of finance to help unlock its growth potential, the Finance Durham Fund may be able to help. Contact 0191 731 8595.Source: Finance Durham