Hampshire cybersecurity startup bags £2M
Friday August 6th, 2021
Razorsecure, a Basingstoke based cybersecurity software provider for the rail industry, has secured more than £2 million from the existing investors including, Enterprise M3 Growth Fund; Mainport Innovation Fund II, Wentworth Limited; and Breed Reply.
To date, the company has raised £6 million in funding. The funding will be used to accelerate the company’s growth and scale its products.
Founded by Alex Cowan in 2015, RazorSecure provides a suite of products and services to protect rail companies from cyber-attack. The company’s technology is powered by machine learning and designed to protect rolling stock, signalling, and infrastructure systems. RazorSecure’s solution detects how a system operates and identifies deviations as a possible threat.
The Basingstoke-based company launched EN50155 approved Security Gateway for the industry earlier this year to enhance the protection. It acts as a single source of truth on board the train for cybersecurity, providing real-time visibility of key hosts, the network, and logs from all devices onboard.
Since its inception, the company has provided cybersecurity solutions for the rail industry, covering both onboard and trackside applications.
The UK company has doubled its team size in the last 12 months, driven by strong demand for cybersecurity services across the rail sector. The software has been deployed in over 1600 rail vehicles and protected over 30 million rail passenger journeys, claims the company.
Alex Cowan, CEO of RazorSecure, comments: “This funding will enable us to further develop our global presence and provide an enhanced level of protection to a growing number of customers in the rail industry. We have enjoyed both financial and strategic support from our investors and we will look to deliver significant value to them from this further investment.”