CloudGuard celebrates multi-million pound growth boost

CloudGuard is the latest North West tech firm to benefit from the Northern Powerhouse Investment Fund. The Manchester-based cybersecurity start-up has secured multi-million-pound funding from NPIF II-Praetura Equity Finance, managed by Praetura Ventures.

The investment will enable CloudGuard to create up to 20 new cybersecurity jobs over the next year. The company plans to use the funds to expand its Manchester base, increase its workforce from 30 to 50, and strengthen AI research partnerships with local universities.

CloudGuard, founded in 2020, specialises in automation and AI-led cyber attack detection, protection, and response services. The firm’s technology helps businesses proactively remove threats in real-time.

The investment will also be used to grow the CloudGuard Cyber Academy, which aims to provide training and industry experience to people of all ages and levels, including those seeking their first role in cybersecurity or those looking to change careers.

CloudGuard CEO, Matt Lovell, said: “Unfortunately for many businesses, the complexity and volume of cyber events is increasing every day. More effective use of Automation and AI is fundamental to enabling better detection, protection, response and resolution outcomes, but equally as threats continually evolve so too must our capabilities. Response time is critical to mitigating the impact of cyber events in any business, as well as improving business resilience. CloudGuard is striving to provide more cost-effective, more responsive resolution-based services for all businesses with leading security solutions from Microsoft and other partners.

“Manchester is our home. It’s such an amazing city, rapidly becoming one of the UK’s leading cyber hubs. We are thrilled with the Northern Powerhouse investment and plans to accelerate our business and talent.”

Image source: CloudGuard