Integrated risk management and cybersecurity provider, SureCloud, has recently secured a multi-million venture debt facility from growth lending specialists, BOOST&Co.
News of the funding comes just as SureCloud moves on its plans for growth in the UK, as well as its plans for expansion into the US. The funding from BOOST&Co, a fast-growing alternative lender that invests in high-growth SMEs, also acts as a vote of confidence in the new direction SureCloud is forging, which is expected to change the GRC & cyber risk industry landscape significantly.
SureCloud has been operating for more than 15 years, supporting the governance, risk and compliance (‘GRC’) market and cyber and risk advisory services of major corporate firms. The company operates across multiple sectors, including banking, manufacturing and government, implementing flexible, cloud-based solutions that focus on user experience, data aggregation and artificial intelligence that helps clients de-mystify risk, compliance and cybersecurity.
Now, with the support of the funding from BOOST&Co, SureCloud is seeking to build on its recent success and plot a new path forward that will shape the industry in 2021 and beyond.
“SureCloud has already demonstrated 40% growth per year for the last five years, but as the firm has begun to scale, it has had to invest heavily in its own growth,” says Ryan Sorby, principal at BOOST&Co and head of the lender’s Manchester office. “The team is expecting to double the size of its US operations during the next couple of years, as well as scale its UK client base, but they need growth funds to support this and our investment provides exactly that.”
SureCloud has also been recognized in three of Gartner’s Magic Quadrants and identified as a challenger within the consulting firm’s 2020 IT Risk Management and IT Vendor Risk Management quadrant reports. This accolade, alongside CREST certified cybersecurity capabilities and ISO compliant solutions, demonstrates the calibre of the business, as well as the growth trajectory that BOOST&Co is confident to support.
“In SureCloud we recognize a robust business with an exceptional offering, demonstrating significant growth metrics,” Ryan Sorby continues. “The firm is operating in an attractive sector, with an impressive customer list, so we’re excited to be a part of its journey.”
SureCloud CEO, Richard Hibbert, said of the investment: “We’re thrilled that BOOST&Co are with us on this journey. We’re confident that SureCloud will have a game-changing impact on the cybersecurity, compliance and risk management landscape in the coming years, and this funding will help support our exciting plans for growth and expansion. It’s always been our goal to not just serve clients, but innovate and develop on their behalf, shaping the GRC industry as we go, and this investment will help us continue to do just that.”
BOOST&Co is a UK-based independent asset manager specializing in growth-lending solutions for UK SMEs. It has offices in London, Manchester, Bristol, Cambridge and Cape Town. Its funds come from large pension funds, as well as insurance companies.
SureCloud is a provider of Gartner recognized GRC software and Cyber & Risk Advisory services. Whether buying products or services, your organization would benefit from automated workflows and insight from the award-winning SureCloud platform. All of SureCloud’s service offerings are fully compatible with the GRC suite of products enabling seamless integration of information, taking your risk programs to the next level.
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