November 7, 2023 at 05:38PM
London-based cyber security business Risk Ledger has raised £6.25m ($8.5m) in a series A funding round led by Mercia Ventures. The company plans to use the funding to strengthen supply chains and develop tools to combat supply chain security attacks. Risk Ledger offers a social network approach to supply chain risk management, allowing organizations to share a single profile of their controls across security domains and visualize the entire supply chain ecosystem. The platform currently has over 5,000 organizations and 17,000 users as customers.
Risk Ledger, a cyber security business, has raised £6.25 million in a series A funding round to strengthen supply chains. The funding was led by UK investor Mercia Ventures, along with other investors such as Seedcamp, Firstminute Capital, Episode 1, Village Global, and Finnish VC Lifeline Ventures. This brings Risk Ledger’s total venture funding to £9.8 million. The company aims to help businesses improve their resilience against third-party security breaches, which have affected 73% of organizations in the past three years. Supply chain attacks are on the rise, and recent cyber attacks on organizations like The Metropolitan Police and NHS Trusts have highlighted the potential risks. Risk Ledger offers a social network approach to supply chain risk management, allowing organizations to share information about their controls across various security domains. By visualizing the entire supply chain ecosystem and identifying critical interdependencies and concentration risks, organizations can make better decisions to protect themselves from supply chain threats. Risk Ledger has seen rapid adoption, with over 5,000 organizations and 17,000 users as customers, including those in sensitive sectors such as critical national infrastructure, financial services, and the public sector. The new funding will be used to further develop Risk Ledger’s products and deepen partnerships within key industries. The company’s mission is to build a global network of connected organizations working together to defend against cyber attacks in real-time, through collaboration and the exchange of information.