Precursor Technology Group, a leading cyber security firm, is continuing to expand its presence in the North East with the support of a six-figure investment.
The company, which offers a comprehensive range of cyber security services including cloud security, continuous security testing, and backup, established a security operations centre in Newcastle earlier this year, creating ten new jobs.
With the help of NEL Fund Managers, Precursor has secured funding from the North East Growth Capital Fund Supported by the European Regional Development Fund. This investment will enable the firm to attract the necessary expertise to meet growing client demand and create an additional eight jobs by the end of the year, bringing its Newcastle team to 18.
The Precursor management team was introduced to NEL Fund Managers by their chairman, Neil Stephenson, a prominent entrepreneur and tech investor. Stephenson and his business partner, Stuart Bramley, are prolific Angel Investors and have contributed to the funding round. Their active support is driving the business’s growth.
Scott Cardow, chief executive at Precursor Technology Group, said: “The talent pool available in the North East was one of the drivers in choosing Newcastle as the location for our second base, and we’re extremely pleased with the progress we’ve made so far in building our expert team here.”
Image: l-r: Neil Stephenson and Scott Cardow of Precursor Technology Group, angel investor Stuart Bramley, Jane Siddle of NEL Fund Managers and Michael Lamb of Precursor Technology Group (Photo credit: NEL Fund Managers)
