Following significant product development and growth, the business will use the funding to increase marketing and grow its customer base
Intelligence Fusion has secured a £400,000 investment from a number of sources to continue its growth in the expanding global intelligence market. Led by Maven Capital Partners (“Maven”) the funding has been provided by the Finance Durham Fund, The Future Fund and existing investors. The follow-on investment will support the business as it enters its next phase of growth after it successfully developed and launched its intelligence data feed platform two years ago.
£100,000 was invested on behalf of the Finance Durham Fund which was established by Durham County Council to encourage businesses to grow and invest in County Durham. A further £200,000 was provided by The Future Fund, a government scheme backed by the British Business Bank and £100,000 was invested on behalf of new and existing private investors.
Intelligence Fusion provides software, products, consultancy, and training to help companies understand global threats to enable them to make better-informed decisions. The company combines data and analysis to enable customers to detect and respond to incidents to mitigate against threats and protect their people, assets and operations worldwide.
The company work across a wide range of industries such as medical, manufacturing, telecoms, transport and logistics, energy and chemicals providing data and intelligence which is displayed on an online platform or can be integrated into the client’s own systems via a live data feed.
There is a significant commercial opportunity for military-grade human intelligence particularly at a time of significant uncertainty. Security situations and incidents including public protests, violence and unrest, migration and trafficking, threats to oil and gas pipelines, cyber-attacks and environmental activism are increasing year on year, added to the increasing number of internet and smartphone users across different regions. All driving the growth of the global threat intelligence market which is expected to reach $17.9bn by 2025.
Backed by a team of specialist experts with the on-the-ground experience of situational threat awareness, the company was founded by CEO, Michael McCabe following his experience in security intelligence with the British Army and in the private security industry. The team is made up of 17 different nationalities with over 30 years’ experience in intelligence and risk monitoring. Ex-Microsoft director, Robert Hayes was recently been appointed as chairman, bringing extensive experience of cybersecurity, crisis management, and strategic risk assessment.
Michael McCabe, CEO of Intelligence Fusion said: “We are delighted to have secured £400,000 of investment to help support us on this next stage of growth. With COVID-19 we have witnessed great change globally, which is impacting the security landscape. Intelligence Fusion has supported our clients through this period and helped them to mitigate emerging threats. With this investment, we will deepen our technology to enhance our intelligence solution, as well as add to our sales and marketing teams to increase and diversify our client base into new sectors and markets.”
Michael Dickens, Investment Manager of Maven, said: “We’re delighted to take part in this funding round as Intelligence Fusion enters an exciting phase of growth. With a real and growing need for this technology, the business is set to make waves in the Threat Intelligence market with a highly sophisticated platform backed by a team of dedicated specialists with decades of combined experience in security intelligence.”
Cllr Carl Marshall, Cabinet member for economic regeneration at Durham County Council, said: “It’s fantastic that we are able to support Michael and team through the Finance Durham Fund. The coronavirus pandemic continues to make the current economic climate difficult for businesses, so it is vital that we support companies during this rapidly changing time, ensuring the economy is sustained and resilient in this period of uncertainty.
“Through the support from Finance Durham, we can ensure enterprising businesses with dynamic ideas, like Intelligence Fusion, have the right means to expand, enabling them to thrive while creating and safeguarding more and better jobs in County Durham.”
Sarah Slaven, Business Durham’s interim Managing Director, said: “We are delighted to continue to support Intelligence Fusion as they move the business to the next level. This investment builds on funding awarded to the company in previous years demonstrating how, through the Finance Durham Fund, we are able to support companies in County Durham over the long term. We encourage businesses like Intelligence Fusion to think about how investment could help them take the next step in their own future growth and rise to the post-Covid challenges.”